Eurozone Crisis and Social Models: What We Can Learn from Italy and Spain. CES Papers - Open Forum #20, 2013-2014

This paper considers the role of social model features in the economic performance of Italy and Spain during the run-up to the Eurozone crisis, as well as the consequences of that crisis, in turn, for the two countries social models. It takes issue with the prevailing view - what I refer to as the “competitiveness thesis” - which attributes the debtor status of the two countries to a lack of competitive capacity rooted in social model features. This competitiveness thesis has been key in justifying the “liberalization plus austerity” measures that European institutions have demanded in return for financial support for Italy and Spain at critical points during the crisis. The paper challenges this prevailing wisdom. First, it reviews the characteristics of the Italian and Spanish social models and their evolution in the period prior to the crisis, revealing a far more complex, dynamic and differentiated picture than is given in the political economy literature. Second, the paper considers various ways in which social model characteristics are said to have contributed to the Eurozone crisis, finding such explanations wanting. Italy and Spain ́s debtor status was primarily the result of much broader dynamics in the Euro- zone, including capital flows from richer to poorer countries that affected economic demand, with social model features playing, at most, an ancillary role. More aggressive reforms responding to EU demands in Spain may have increased the long term social and economic costs of the crisis, whereas the political stalemate that slowed such reforms in Italy may have paradoxically mitigated these costs. The comparison of the two countries thus suggests that, in the absence of broader macro-institutional reform of the Eurozone, compliance with EU dictates may have had perverse effects.

Banks and the political economy of the sovereign debt crisis in Italy and Spain. CES Papers - Open Forum #18, 2013-2014

This paper sets out to explain why Spain experienced a full-fledged sovereign debt crisis and had to resort to euroarea financial assistance for its banks, whereas Italy did not. It undertakes a structured comparison, dissecting the sovereign debt crisis into a banking crisis and a balance of payments crisis. It argues that the distinctive features of bank business models and of national banking systems in Italy and Spain have considerable analytical leverage in explaining the different scenarios of the crises in each country. This ‘bank-based’ analysis contributes to the flourishing literature that examines changes in banking with a view to account for the differentiated impact of the global banking crisis first and the sovereign debt crisis in the euroarea later.

The Greek elections and the third bailout programme: Why it could work this time round. CEPS Commentary, 21 September 2015

Following the decisive victory won by the Syriza party in Greece’s general election on September 20th, this commentary explores the key question of whether the third bailout programme can work, where the previous two programmes failed. Whereas most observers argue that the third one cannot work because it merely represents a continuation of an approach that has manifestly failed, the authors argue that a closer inspection of the conditions today give grounds for cautious optimism.

Awkward partner once again? Repercussions for Europe of Poland’s elections. EPIN Commentary No. 27, 3 November 2015

A clear majority of Poles voted to end eight years of Civic Platform (PO) government on October 25th when they brought the national-conservative Law and Justice Party (PiS) back to power. This outcome might be difficult to understand for Poland’s West European partners and may also confuse some EU officials who have observed developments in Poland since it joined the EU in 2004. The implications of these elections for relations with Germany and France, and for Poland’s own EU policy, are a source of concern. Do the results herald a return to the country Poland was during its early years as EU member? In this EPIN commentary the author attempts to throw light on the reasons behind the return to power of Law and Justice Party and considers the wider implications for the EU and European cohesion.

Monthly statistics [of] Milk: No 11-12: 1975: structure of dairies in Italy on 31 December 1974

See AGRICULTURE:Animal Production, Statistics of in "EU Annual Reports" below for additional information on this topic.

La place des emotions dans les campagnes du Front national et du Mouvement democrate pour les elections europeennes der 2014 = The place of emotions in the campaigns of the National Front and democrat movement for the 2014 European elections. Bruges Political Research Papers 43/2015.

No abstract.