Professor of Political Economy

Sant’Anna School of Advanced Studies, Pisa
Chairman of the Scientific Commitee - Centro Europa Ricerche (CER) , Roma
&
Centre for the Study of Global Governance (London School of Economics)

• Greece and Union Bonds
  The Greek Crisis risks undoing the achievements of the euro. Here is a proposal how to deal with it:
  Private Union Bonds as an Exit from the Greek Drama. (Updated version : June 2010)
  
  
• Policy challenges for Euroland over the next decade. (english version)
  Les enjeux pour la zone Euro dans les dix années à venir (version française)
  In: L'Euro en 2019 (Collectif), Revue d'économie financière; ed. Association d'Economie Financière, Coll. Revue de l'Association d'Economie Financière janvier 2010 N°96.
  
  
• Tackling Europe’s Legitimacy Crisis – A Republican Approach to Euroland’s Governance. (pp 74-90)
  In: Rolf Caesar / Wim Kösters / Hans-Helmut Kotz / Daniela Schwarzer (Eds.). Governing the Eurozone - Looking ahead after the First Decade.
  Stiftung Wissenschaft und Politik - German Institute for International and Security Affairs; Berlin, dec. 2009.
  
  
• L’Union européenne a-t-elle une stratégie économique extérieure ?
  In: Thierry Chopin et Michel Foucher (Dir.). L'état de l'Union 2010. Rapport Schuman sur l'Europe. février 2010, 304 p.
  
  Does Europe have an external economic strategy? (english version).
  
  
• - Theoretical models of fiscal policies in the Euroland - The Lisbon Strategy, macroeconomic stability and the dilemma of governance with governments (chapter 8, pp. 329-366)
  
  - The failure of the macroeconomic dialogue on wages (and how to fix it)
  ( chapter 10 - pp. 427-469)
  
  - The European Republic: Utopia or Logical Necessity? (chapter 13 - pp. 531-577)
  
  In: The Sinews of European Peace - Reconstituting the Democratic Legitimacy of the Socio-Economic Constitution of the European Union
  Raúl Letelier and Agustín José Menéndez (eds); ARENA Report No 7/09 & RECON Report No 10. Oslo, December 2009.
  (download of full report in PDF here) .
  
  

• CER Report on Europe 2010
  Click here to download the PDF version
  Click here to download the Powerpoint presentation (format. pptx)
  
  
• Bloß nicht rauswerfen! Financial Times Deutschland (27.04.2010).
  
  
• Social Europe Journal's Columns : http://www.social-europe.eu/
  
  • Europe’s Keynesian Turn? (04.06.2010)
  • After Greece, the European Republic! (03.05.2010)
  • The Challenge of New Chauvinism in Europe (06.04.2010)
  • What Conservatives do not understand about the Euro (03.03.2010)
  • The Greek Drama and the Social Justice of Responsible Fiscal Policies (03.02.2010)
  • Does Europe need a Strategy for China? (12.01.2010)
  • The Winner is: Democracy! (26.01.2009)
  • Does Europe’s Social Democracy still have a Future? (03.11.2009)
  • Taking Democracy in Europe seriously (24.09.2009)
  • Testing the European Parliament (31.08.2009)
  • The Dawn of a New Era: Social Democracy after the Financial Crisis (06.04.2009)
    
    
    
• Policy papers written for the Economic and Monetary Affairs Committee of the European Parliament
  
  • How to Handle Global Imbalances: a Role for European Monetary Cooperation with Asia.
    Briefing Paper for the Monetary Dialogue March 2010. European Parliament, Committee on Economic and Monetary Affairs.

    Abstract:
    The crisis happened because misguided monetary policies in the US, and high savings from Asia have also allowed Americans to live above their means. Now the party is over, but global imbalances will not disappear.
    China’s model based on unlimited labour supply and a competitive exchange peg to the dollar is under threat. Reforms must preserve Asia‘s growth, give the US flexibility to adjust, and prevent Europe from carrying the burden of global adjustment:
    1. Asia should re-peg from the dollar to a basket of euros and Japanese yen.
    2. Euro-yen volatility must be minimized.
    3. Surpluses are invested in euro and yen, stimulating demand.
    4. The basket leads to a future international reserve currency.
    5. Coordination should be led by a G4 and ASEM.
    

  • Bubbly economics
    Directorate General for Internal Policies - Policy department A : economic and scientific policies - Economic and Monetary Affairs. Nov 2009.

    Abstract:
    The policy-induced rebound of the Euro Area economy still has to be transformed into self-sustaining growth. Monetary policy can contribute to this development by not exiting accommodative policies too early. At the moment, there is no evidence for inflation pressures caused by excessive liquidity creation, nor for the emergence of a new asset bubble in the Euro Area, although the environment needs to be monitored very carefully. The real bubble danger is in Asia and Europe should engage in global economic policy concertation.
    

• You'll find on this link the pictures of a diner party I gave for Helmut Schmitd (Hamburg, 06.02.2010).
  
  
• Rede in Wien
  Im Rahmen des SPÖ-Zukunftsprojekts "Österreich 2020" (Ö2020) lud am 14. März 2010 Sozialminister Rudolf Hundstorfer zu einer Diskussion mit dem Thema "Sozialstaat im 21. Jahrhundert - Vision oder Utopie?" ins Parlament. Hundstorfer ist politischer Verantwortlicher der "Österreich 2020"-Diskursgruppe „Soziales, Beschäftigung und Wirtschaft".
  Hier ist mein Beitrag (video).
  Hier ist die Präsentation in PDF.