Monthly Archives

March 2021

European, Politics

Europe – Covid and Freedom

The lessons learned from the pandemic opens a window to further European integration. Lassitude, sacrifices, anxieties, unknowns surrounding the pandemic, economic uncertainties are all undermining the spirit of the population, rendering the task of governing ever more complex. The media, be it TV debates, the press or social media platforms, train their sights on the dysfunctionalities, the contradictions, the incoherencies underpinning the opinions of “specialists” (or incompetent participants) who wrangle publicly, thus making the decisions made by political authorities particularly difficult to follow and understand. Within this context, there is a lack of consensus concerning the importance assigned to competing priorities, aiming either at health care, economic activity, social protections or to be respectful of citizen’s rights and liberties, each,…

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Economic and Financial

The debate over the legacy of the sovereign debt burden on future generations is hypocritical.

It constitutes a moralizing fig leaf hiding increasing inequalities. The rejection of an excessive recourse to increasing public debt is often formulated in a language condemning the practice in the name of an “unfair” transfer of its repayment on the shoulders of future generations. Is this criticism necessarily well grounded? In order to pass judgment, it is necessary to define the parameters that establish a level of excess indebtedness. These parameters vary according to the characteristics of the debtor, whether it be an individual, a corporation or a State. In the latter case – which we examine here – it is necessary to determine further whether the State enjoys full monetary sovereignty and whether its debts are expressed in its…

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European, Politics

The Euro as an instrument of Power?

Commentary on the Communication from the European Commission(COM (2021) 32) On the eve of President Biden’s inauguration, the Commission published a Communication aiming at strengthening the role of the Union on the world stage by developing a policy of “open strategic autonomy” outlined in its Communication of May 2020. This new Communication centres on the development of the international role of the €, strengthening the EU’s financial market infrastructures, improving the implementation and enforcement of the EU’s sanctions’ regime as well of the unlawful extra-territorial application of unilateral sanctions and other measures by third countries. As was provocatively suggested in a commentary in the Financial Times of January 21st, the American President will have lost no sleep when informed of…

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