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Straubhaar, Thomas

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3 articles of this author have been cited in the European Press Review so far.

Aargauer Zeitung - Switzerland | 22/06/2015

Greece is a failed state

Greece's main problem is not the euro or the conflict with its creditors but the lack of state structures, economist Thomas Straubhaar writes in the liberal Aargauer Zeitung newspaper: "Neither a Grexit nor another compromise will alter the fact that Greece is a 'failed state'. … More than new loans or a Grexit what Greece needs is credibility, trust and efficient state institutions. Corruption, tax evasion, cronyism and illicit work are the rule rather than the exception. So it's no use demanding for the umpteenth time what the Greeks can't give. It's no use pushing for them to increase state revenues and reduce government spending without first of all ensuring that the Greek state is subject to comprehensive reforms."

Finanz und Wirtschaft - Switzerland | 07/12/2011

ECB must put out flames

The EU heads of state and government want to adopt further measures for more financial stability in Europe at their summit in Brussels on Thursday and Friday. But as long as there is no fiscal union the European Central Bank ECB must play a greater role, writes economic researcher Thomas Straubhaar in the business paper Finanz und Wirtschaft: "For now the ECB should put out the flames. Then it must make sure that the water necessary to do the fire-fighting is stocked in due time and form. That requires wise monetary policy instruments. If the worst comes to the worst, they should enable the ECB to bolster the loans it guarantees in purchasing old government bonds and thereby nip inflation expectations in the bud. Finally, on the long term a fiscal union with strict debt ceilings and automatic sanctions as well as the ESM as a jointly financed bailout fund should ensure that Europe not only becomes a liability and transfer union, but also a stability union."

Die Welt - Germany | 20/07/2011

Transfer union is the solution

Only a European transfer union can save the euro, writes the conservative daily Die Welt: "What is needed is a jointly financed stability mechanism that makes financial help available to debt-stricken euro countries in times of crisis. Yes, the liability union is a step further on the path to the transfer union Germany so fiercely rejects. But the European transfer union is nothing but the natural and logical next stage in a lengthy process. Every federal country is a transfer union - look at the US, Germany and Switzerland. ... German Chancellor Merkel and French President Sarkozy could then finally voice that key sentence that would immediately quash all the speculation about individual euro countries and the Eurozone as a whole: 'Germany and France guarantee together with the other euro countries that no Eurozone country will go bankrupt."

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