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Structural reforms are back. Call the cops!

Hancké, Bob ORCID: 0000-0002-3334-231X (2014) Structural reforms are back. Call the cops! LSE New European Trade Unions (09 Apr 2014). Website.

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Judging by the recent economic news, the real culprits in the crisis have finally been identified. In Italy, Matteo Renzi is putting a lot of his political capital in a labour market reform bill. In Frankfurt, Brussels and a few other important places in Europe, the ECB’s Mario Draghi, ‘senior’ Commission officials and captains of industry and finance (yes, the bright lights who brought you the crisis in 2007-08), including a smattering of Goldman Sachs executives and ex-executives, have all discovered the persistent need for structural reforms. The ECB, thus the complaint, cannot do all the heavy lifting in the European economy. Governments and workers have to do their bit by accepting painful but necessary constraints. Banks are, supposedly, impossible to control in this sense, since they can relocate if regulated too tightly — which probably also explains why so few bankers (none, in fact) have ended up behind bars despite rather spectacularly bad behaviour: being too strict with them would undermine the competitiveness of the financial sector.

Item Type: Online resource (Website)
Official URL:
Additional Information: © 2014 The Author(s)
Divisions: European Institute
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HJ Public Finance
J Political Science > JC Political theory
J Political Science > JN Political institutions (Europe)
Date Deposited: 02 Jun 2017 07:37
Last Modified: 16 May 2024 07:41

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