Twenty-five Years of German Unity
When the reunification of Germany became a reality in 1990, it was also time for the forecasters to take center stage. How long would it take until the East German economy had shaken off the consequences of 40 years of communism? And how long would it take until living standards in eastern Germany matched those in western Germany? Views on such issues differed greatly. The optimists’ camp was led by the German chancellor, Helmut Kohl, who held out the imminent prospect of “blossoming landscapes” in economic terms for the five new federal states. The “Aufbau Ost” development program was expected to last around half a decade. It was not only politicians, but also some economists who believed that it might be possible to catch up that fast.
The Euro’s Savior?
In this study, Jörg Bibow, Professor of Economics at Skidmore College, assesses the ECB’s crisis management performance and potential for crisis resolution. Part of AGI’s focus on analysis of the euro crisis, the …
Pleasing and Appeasing Markets: A Fatal Attraction
Following the recent and ongoing turmoil in financial markets, largely triggered by the growing uncertainty about the health of the Chinese economy, financial investors have started to expect and demand …
Breakdown or Breakthrough?
The past few days have certainly been rich with dramatic twists and turns in the Greek drama. Nobody knows with certainty how the story will end—not the Greek politicians, the …
How can Europe help the Greeks?
Over 200 Billion Euros have been handed to Greece. Additional rescue funds will probably follow. Except: The government operates in a nepotistic way and the money doesn’t go to the …
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Support Our WorkCapital Markets Union
These days, creating jobs and boosting growth are the top priorities of European policymakers. In order to do so, policymakers are focused on measures that widen firms’ funding opportunities, which …
Transatlantic Competition Over Institutional Design
In 1996, Martha Finnemore noted in National Interests in International Society that no matter how technical international organizations might seem, they “are never neutral forms.” In his new article, Alexander …
Restructuring Greece’s Sovereign Debt: It’s Not the Answer, Yet
Greece barely managed to repay a loan installment to the International Monetary Fund (IMF) this week, only being able to do so by tapping its own buffer reserves at the …
Greece and Sisyphus: When Myths Risk Becoming Reality
Officially, Greece was not even on the agenda at the Spring meetings of the IMF and World Bank Group last week. But the country’s obstinate flirtation with disaster was very …
Sovereign Debt and Banks
The crises of recent years have shown us that we must part with many convictions held in the past. One of them is that government bonds are risk-free. This also …
Greece and the Euro Zone
German chancellor Angela Merkel is nothing if not the embodiment of pragmatism. It is time that she demonstrates that trait with regard to Greece. In 2009, the chancellor did a …
Perspectives: No Blank ECB Check for Greece
As the new Greek government begins to reconcile its populist message with the harsh realities of governing, AGI Business and Economics Director Alexander Privitera analyzes the implications for the euro. …
