Category Archives: Euro crisis

The Morning After Brexit

Posted on June 24, 2016 by Harald Sander

I am now going to say something that will astonish you. The first step in the re-creation of the European Family must be a partnership between France and Germany. In this way only can France recover the moral and cultural … Continue reading →

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New Research Paper: The Resurgence of Cultural Borders during the Financial Crisis: The Changing Geography of Eurozone Cross-Border Depositing

Posted on May 7, 2016 by Harald Sander

This paper, jointly written with Stefanie Kleimeier and Sylvia Heuchemer, has just been published by the Journal of Financial Stability 24(2016) and can be dowloaded here (free access until June 23, 2016). The paper investigates the impact of cultural borders … Continue reading →

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The use of overly intrusive conditionality in Greece is threatening the European project

Posted on May 31, 2015 by Harald Sander

A Greek default may be only a matter of weeks away unless an agreement on the reform programme between Greece and “the institutions” will be reached. But Greece demands to renegotiate the whole programme, while the institutions, fearing a precedent, … Continue reading →

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The ‘Juncker plan’ does not offer a genuine path to boosting the Eurozone’s recovery

Posted on March 22, 2015 by Harald Sander

The €315 billion European investment initiative – the so called ‘Juncker plan’ – was accepted by EU finance ministers on 10 March and is expected to go operational as a new “European Fund for Strategic Investment” (EFSI) by mid-2015. Is … Continue reading →

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Quantitative easing: Germans have nothing to lose but their fears!

Posted on January 22, 2015 by Harald Sander

The European Central Bank is due to decide whether and how to undertake quantitative easing (QE) via large-scale purchases of government debt on secondary markets. For Germany – as the Eurozone’s largest economy and one with a decidedly conservative monetary stance – … Continue reading →

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The case for using public investment to boost growth in the Eurozone is overwhelming

Posted on October 28, 2014 by Harald Sander

One year after the Eurozone’s much hyped ‘recovery’, signalled by some green shoots in the second quarter of 2013, the region’s quarterly economic growth is flat again. Even Germany’s growth prospects have been revised downward, and recent IMF estimates point to an almost 40 … Continue reading →

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Draghi calls for spending to rescue Euro – but will governments do ‘whatever it takes’?

Posted on September 7, 2014 by Harald Sander

In July 2012 European Central Bank president Mario Draghi famously announced that the ECB would do “whatever it takes” to rescue the Euro. And he added: “Believe me, it will be enough.” In fact, it has so far been enough to avoid … Continue reading →

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Cultural borders limit financial integration during financial crises times

Posted on May 24, 2014 by Harald Sander

In a recent working paper, co-authored with Stefanie Kleimeier and Sylvia Heuchemer, we provide new evidence on the “resurgence of cultural borders in international finance during the financial crisis”. We show that cultural differences across countries act as invisible borders … Continue reading →

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