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Greece: a constitutionalist’s two (euro)cents.

Cormac Mac Amhlaigh

Greece is obviously at the forefront of many EU scholars’ minds over the past number of weeks. There has been an avalanche of commentary and analysis on the Greek bailout negotiations both from those with intimate knowledge of the situation and familiarity with Greek politics, the EMU and sovereign debt crises as well speculation from the sidelines from those of us more ignorant of these matters. Therefore as someone whose credibility in the debate (such as it is) is limited to the expertise of the constitutional lawyer with a good familiarity of EU law generally, I have limited my two (euro)cents on the topic to a number of (mostly factual) propositions related to the crisis for what they are worth. Most I think are obvious and (hopefully) few are contentious but I think that they are worth (re)stating in the context of the war of words and recrimination from all sides present in the debate in recent days. Weiterlesen

258 Cormac Mac Amhlaigh

The Euro Summit deal: defeat or victory? A response to Robert Howse

Michael Ioannidis

Avoiding Grexit is, of course, the important achievement of the Agreement. But this counts as a success no more than surviving self-inflicted wounds: Concrete discussions on Grexit revived only in the last months and especially after the recent referendum. They are actually the product of the negotiation strategy itself. If we are looking for success then, we are left with debt relief and the new conditionality. Weiterlesen

408 Michael Ioannidis

Damned if you do, Damned if you don’t: Reflections on Brexit and Grexit

Lorenzo Zucca

Greece might leave the Euro zone, the UK might leave the European Union, Scotland might leave the UK. The naif belief that the market will fix inequality and take care of political unity will have to face reality: Equality and solidarity are not provided by the market, nor are they to be expected without governing institutions. Either there is a clear vision that binds together countries by providing safety nets and solidarity. Or the union will break apart. Weiterlesen

377 Lorenzo Zucca

The Deal on Greek Debt: Political Gamechanger for Europe, Tactical Retreat (not Surrender) by Tsipras

Robert Howse

The conventional wisdom, delivered before anyone could really ponder the fine print of the Greek debt deal, is that Tsipras surrendered to the creditors in a humiliating defeat. His referendum and prior tenacity in negotiations proved futile,according to the predominant account that has emerged in the media and the twitter and blog worlds. Wrong on all counts. And here's why. Weiterlesen

160 Robert Howse

„Haircut“ für Griechenland? (Un-)mögliche Frisuren eines Schuldenschnitts

Armin Steinbach

Die Euro-Regierungschefs wollen Griechenland offenbar mit verlängerten Kreditlaufzeiten und niedrigeren Zinsen helfen, im Euro bleiben zu können. Solange eine Rückzahlungspflicht der Nominalschuld bestehen bleibt, ist eine solche Form des "Haircuts" wohl europarechtlich zulässig - anders als ein tatsächlicher Schuldenschnitt. Weiterlesen

406 Armin Steinbach

Eine Schuldenrestrukturierung setzt keinen Grexit voraus!

Matthias Goldmann

Bundesfinanzminister Wolfgang Schäubles Behauptung, Griechenland könne wegen Art. 125 AEUV nur außerhalb der Eurozone seine Schulden gegenüber anderen Euro-Staaten und EFSF bzw. ESM restrukturieren, beruht auf einem Denkfehler, wenn nicht gar auf einem Taschenspielertrick. Die Pringle-Rechtsprechung des EuGH zeigt: Das Europarecht schaufelt sich nicht sein eigenes Grab. Man muss es nicht erst umgehen, um die Ziele der Union wahrhaft zu verwirklichen. Weiterlesen

239 Matthias Goldmann

The battle over Europe

Detlef von Daniels

In the Anglophone press and in some intellectual circles there appears to be a broad alliance favouring an “end to austerity”. What all these positions share is that they treat the crisis as a matter of theoretical dispute: If only the correct economic or philosophical view would prevail the appropriate course of action would be clear. The current situation might help to remind us, the theorists, that in the course of actions we can only watch and sometimes, like when Hegel saw Napoleon, get a glimpse of world history. It might also remind us that before theoria was invented as an eternal idea a different, more mundane view reigned: Heraclitus's reflection of polemos (war, fight, struggle) as the father of all things. Weiterlesen

405 Detlef von Daniels

Lustration and guilt: Evolution of the Venice Commission’s approach

Nikolai Bobrinsky

On 19 June 2015 the Venice Commission issued its final opinion on the Law on government cleansing (lustration law) of Ukraine. Compared to the interim opinion, the final document is much more favorable to the Ukraine’s lustration initiative. One of the most interesting changes concerns the role of guilt in the lustration framework. Weiterlesen

404 Nikolai Bobrinsky

Merkel, Tsipras und die Schwierigkeit, das offensichtlich Richtige zu tun

Maximilian Steinbeis

In dem aktuellen Drama um Griechenland sehen sich zwei europäische Politiker mit der Erwartung konfrontiert, etwas offensichtlich Richtiges, aber gleichzeitig offenkundig Unmögliches zu tun. Alexis Tsipras soll aus Griechenland endlich einen funktionalen Staat machen, Angela Merkel soll Griechenland endlich aus der Schuldenfalle rauslassen. Wenn das so offensichtlich ist, warum tun sie es dann nicht? Ein großer Teil der Öffentlichkeit übt sich in personalisierender Kompetenz- und Motivationsdiagnostik. Ich halte einen anderen Punkt für interessanter. Weiterlesen

363 Maximilian Steinbeis

How to Leave the Euro More or Less Legally

Andrew Duff

There is much speculation, some of it silly, about how to leave the euro if you want to. The ordinary way requires unanimity in the Council, so Greece (or anyone else) could veto the plan. So is there a way for Greece to exit the euro by qualified majority voting (QMV)? Here the logical thing to do is turn to the decision-making process that applies to joining the euro, and reverse the thrust. Weiterlesen

346 Andrew Duff