Brian M. Lucey

Tag: euro

  • Where does the legal right to a 5y GREXIT exist?

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    brianmlucey
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    The proposal by the German finance minister, and agreed to by others, that Greece take a five year break from the Eurozone is astounding. Its not so astounding that a man who has been musing on this for years has now tabled it. Schauble has as far back as 2012 been wanting this. What is…

  • Grexit and Why It Will Not Happen: Catastrophic for Greece and Destabilizing for the Euro

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      Abstract: Severe cash constraints faced by the Greek Government due to a pretty demanding schedule of interest and amortization payments in the remainder of 2015 have lately engineered a new explosion of sovereign bond spreads and rekindled fears of a GRexit down the road. Such fears have been exacerbated further in late April 2015…

  • The future of the euro — what happens if a Member State leaves?

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    The future of the euro — what happens if a Member State leaves? Abstract The continued viability of the Eurozone as a single currency area is challenged from time to time. Some doubt the ability of Italy and other Member States to remain in the zone, given their difficulties in complying with the applicable budgetary…

  • Can we unscramble the euro mess? Can we afford not to?

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    brianmlucey
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    The greek mess shows how debased the whole Euro project has become. Its time to think the previously unthinkable and consider how to unscramble the eggs. Its time to think about how to back out from the Euro.

  • The Ten Commandments of Eurozone Membership (for small states)

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    The quite wonderful Gavin Kostick of Fishamble Theatre has a comment on Irish Economy which is too good to linger there… It's super.   And Draghi came down from the mountain with two tablets of stone. (1) Thou shall love the god of the market. Thou shall have no other god before it. (2) Thou…

  • Bandaid or bazooka? What the ECB unveiled…

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    The ECB yesterday unleashed another acronym, to add to the stew. This time (it’s different?) we have Outright Monetary Transactions. What this means in detail is dissected in the newspapers and blogs. See in particular Constantin Gurdgiv, the Irish times, and the guardian for good and differing takes. In practice the ECB will purchase lots…

  • Ireland is not in Europe..

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    brianmlucey
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    This is an expanded and updated version of an opinion piece published in the Irish Examiner on Saturday 4 August 2011. National Culture is a funny fuzzy concept. Anyone who has ever dealt across different societies knows that cultures and how things are reflected in them differ widely. It can be thought of in this…

  • The Tin Ear of Dr Sinn

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    One of the great masterpieces of world literature is Gunther Grass’ The Tin Drum, cataloging how Germany fell into the abyss of madness. The eponymous drum is pounded upon by Oskar, who survives the horrors of war and gains fame only eventually to be consigned to a secure institution. Its as much a discussion of…

  • Bundes-boobery

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    One of the first ever pieces of non academic work which I wrote was, shortly after leaving the central bank of Ireland in 1992, to suggest that we should consider ditching the then Irish punt and adopting the then Deutsche Mark. The arguments revolved around a (in retrospect astonishing naive) view that doing so would…