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Reforming Europe

I just finished editing a collective volume, in English and in French, on possible ways to reform Europe. Here is the blog post that presents it:

What Reforms for Europe?

by Christophe BlotOlivier RozenbergFrancesco Saraceno  et Imola Streho 

From May 22 to May 25, Europeans will vote to elect the 751 Members of the European Parliament. These elections will take place in a context of strong mistrust for European institutions. While the crisis of confidence is not specifically European, in the Old Continent it is coupled with the hardest crisis since the Great Depression, and with a political crisis that shows the incapacity of European institutions to reach decisions. The issues at stake in the next European elections, therefore, have multiple dimensions that require a multidisciplinary approach. The latest issue of the Debates and Policies Revue de l’OFCE series (published in French and in English), gathers European affairs specialists – economists, law scholars, political scientists – who starting from the debate within their own discipline, share their vision on the reforms that are needed to give new life to the European project. Our goal is to feed the public debate through short policy briefs containing specific policy recommendations. Our target are obviously the candidates to the European elections, but also unions, entrepreneurs, civil society at large and, above all, citizens interested by European issues.

In the context of the current crisis, the debate leading to the next European elections seems to be hostage of two opposing views. On one side a sort of self-complacency that borders denial about the crisis that is still choking the Eurozone and Europe at large. According to this view, the survival of the euro should be reason enough to be satisfied with the policies followed so far, and the European institutions evolved in the right direction in order to better face future challenges.

At the opposite, the eurosceptic view puts forward the fundamental flaws of the single currency, arguing that the only way out of the crisis would be a return to national currencies. The different contributions of this volume aim at going beyond these polar views. The crisis highlighted the shortcomings of EU institutions, and the inadequacy of economic policies centered on fiscal discipline alone. True, some reforms have been implemented; but they are not enough, when they do not go in the wrong direction altogether. We refuse nevertheless to conclude that no meaningful reform can be implemented, and that the European project has no future.

The debate on Europe’s future and on a better and more democratic Union needs to be revived. We need to discuss ways to implement more efficient governance, and public policies adapted to the challenges we face. The reader nevertheless will not find, in this volume, a coherent project; rather, we offer eclectic and sometimes even contradictory views on the direction Europe should take. This diversity witnesses the necessity of a public debate that we wish to go beyond academic circles and involves policy makers and citizens. Our ambition is to provide keys to interpret the current stakes of the European debate, and to form an opinion on the direction that our common project should take.

The volume can be downloaded  in French and in English, and for free!!


  1. May 7, 2014 at 3:22 pm

    Please consider that God, that is the Sovereign Lord God of the Universe, finished His Collective Volume of Writings, that is the New Testament, with a Dream given by angels to the Apostle John, who in his 90s was living in exile on the Isle of Patmos, that being the Revelation of Jesus Christ, and it, not any man’s collective thoughts, direct future events.

    Liberalism was the paradigm that established the age of credit. Trust in the Banker Regime’s monetary policies, specifically the US Fed’s purchases of 30 Year US Government Bonds, EDV, Ten Year Notes, TLT, and Mortgage Backed Bonds, MBB, as well as the ECB’s purchase of Eurozone Debt, EU, increased the supply of money needed to provide investment liquidity, and produce economic growth; more so in the US than in the Eurozone. Peak Wealth has been achieved. It came via an awesome moral hazard based prosperity. Now, the investor’s risk appetite has turned to risk aversion, as investors fear that the Fed’s monetary policies have crossed the rubicon on sound monetary policy, and have made money good investments bad.

    Liberalism featured the sovereignty of Banker Regime of democratic nation states, which provided policies of investment choice and schemes of credit in fiat money, producing seigniorage in Equity ETFs, and Credit ETFs, where the investor was the centerpiece of economic activity.

    With the failure of credit, seen in China, YAO, ECNS, Russia, RSX, ERUS, Emerging Europe, ESR, and the US Small Caps, IWM, IWC, and Commodities, DBC, trading lower, and these being going through the tipping point, authoritarianism is the new paradigm, which features the age of debt servitude, and features the God ordained sovereignty of the Beast Regime of regional governance and totalitarian collectivism seen in Revelation 13:1-4, which provides policies of diktat and schemes of debt servitude in diktat money, which establish seigniorage in Regional Fascism, where the debt serf is the centerpiece of economic activity.

    It is out of the European Debt Crisis, that is out of sovereign, banking, and corporate insolvency of the Club Med Nations, specifically Portugal, Italy, Greece, and Spain, that the New Monster is rising to replace the Creature from Jekyll Island.

  1. May 7, 2014 at 12:44 pm

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