Q&A: Thomas Piketty responds to surprise Greek election result

Thomas_Piketty_2015In the wake of a surprise re-election of Alexis Tsipras and Syriza, Thomas Piketty, Professor at Paris School of Economics and at EHESS, discusses the need for a more active approach from European leaders when it comes to the Greek question – and for a eurozone parliament to be established.
+++Thomas Piketty will speak at the UCL European Institute on 14 December 2015+++

The Tsipras victory has come as a surprise to some. What has changed for Greece?

Normally, we would expect some stability in the coming years. But above all, Greece and Europe need to make up for lost time. Until now, Europe has obstinately refused to talk seriously about restructuring Greece’s debt. That was what caused the downfall of the last government. Continue reading “Q&A: Thomas Piketty responds to surprise Greek election result”

Catch-22: Give democracy a chance and keep Greece in the Euro

Ulrike Liebert, Professor in European Studies, looks at the tensions that are arising between the need for effective economic governance in the Eurozone and the need for democratic accountability, both of member states and the EU as a whole, particularly in the context of the outcome of the Greek referendum.

Eurozone leaders sometimes seem to forget that that they are governing an economic and monetary union that is part of the European Union of states and citizens, founded on common values such as ‘respect for human dignity, freedom, democracy, equality, the rule of law and respect for human rights, including the rights of persons belonging to minorities’ (Art. 2 TEU).

The Greek population of 11 million represents a minority within the nineteen Eurozone states of some 300 million citizens, a minority which is deeply divided over the burdens which Eurozone rules require them to bear for the sake of the euro’s stability. The referendum of 5 July was an unprecedented instance of a plebiscite on Eurozone bailout conditions, and Eurozone leaders had no choice but to acknowledge it as a legitimate means of democracy. Greek voters turned out in unexpectedly high numbers and forcefully spoke their will.

Continue reading “Catch-22: Give democracy a chance and keep Greece in the Euro”

Greece: a crisis of trust?

Geoffrey Hosking, Emeritus Professor of Russian History at UCL’s School of Slavonic and East European Studies, gives his view of what went wrong before and during the Greek crisis, and of the challenges that now lie ahead. To him the problem is centrally one of a lack of trust. The Greek crisis goes back a long way, and at several stages demonstrated the dangers of … Continue reading Greece: a crisis of trust?

YES, for our Dignity

In this post, Kalypso Nicolaïdis, Professor of International Relations at Oxford, and Othon Anastasakis, Director of the European Studies Centre, St Antony’s College Oxford, explain how a ‘yes’ vote in tomorrow’s Greek referendum is a choice for dignity rather than fear, as canvassed by the No campaign. The SYRIZA government claims that a No vote in the referendum is about dignity. A Greece that can … Continue reading YES, for our Dignity

Greece: Don’t take it at face value

On 30 June, Greece defaulted on its loan repayments to the IMF. Providing a counterpoint to anti-austerity commentaries, Richard Corbett, Member of the European Parliament from 1996-2009 and since 2014, argues that the bailout loans and the debt restructuring that Greece received were a show of European solidarity, rather than imposing austerity. Had they not attenuated the pain, he explains, the plight of Greece would … Continue reading Greece: Don’t take it at face value