A 'Rehn of Terror' in Europe? Not really, say leading economists
Nikos Chrysoloras, Kathimerini (Greek newspaper), 03.03.2013
Quotes
Despite the result of the elections in Italy, the rise of anti-European political forces across the continent, surging unemployment (11.9 percent in January according to Eurostat), and the continuing recession, the eurozone's fiscal policy is unlikely to change in the following months, according to reliable Brussels sources. “Deficits and rising debt are a hurdle to growth, they do not facilitate growth,” an EU Council official told reporters in Brussels, ahead of this Monday’s Eurogroup meeting. […]
Janis Emmanouilidis, senior analyst at the European Policy Centre (EPC) in Brussels, tells Kathimerini that both sides of the argument have their merits: “Yes, the voices of criticism are increasing. But even if it sounds strange, I think that both sides are right or, rather, have strong arguments. One cannot go either ways – 'austerity' or growth-enhancing measures, which at the end of the day cost money. The 'right' recipe – as is so often the case – lies somewhere in between, and one needs to find the right balance at a given time – which, by the way, also means that one needs to learn from one's mistakes. Under the present circumstances, there is a need to provide for more time and a need to somehow [socially] cushion the measures taken. The Italian vote has inter alia shown the need to do so. But one cannot abandon the policy of cutting down public deficits/debts, because that would [also] undermine regained confidence.” […]
Link to original text here
Latest media contributions
EPC Update / Post-summit Briefing: Informal leaders' retreat: New momentum for European competitiveness?
Online Briefing, YouTube, 16.02.2026
EPC Update / Post-summit Briefing: The Greenland crisis: A test for Europe's credibilitye need for strategic choices
Online Briefing, YouTube, 23.01.2026
EPC Update: EUrope in 2026: the need for strategic choices
Online Briefing, YouTube, 12.01.2026
EPC Update / Post-summit Briefing: The last EU Summit of 2025: a real moment of truth?
Online Briefing, YouTube, 19.12.2025
The next MFF: an adequate answer to EUrope’s challenges?
Online Briefing, YouTube, 24.11.2025
The future of enlargement and EU reform – the candidates' perspective
EU Democracy Reform Conversation, YouTube, 27.10.2025
October Summit: Can the European Council move from divisions to delivery?
Online Briefing, YouTube, 24.10.2025
EPC Update / Post-summit Briefing: Copenhagen and beyond: accelerating progress on defence and Ukraine?
Online Briefing, YouTube, 02.10.2025
State of the Union 2025: A crisis of confidence?
Online Briefing, YouTube, 10.09.2025
EPC Update / Post-summit Briefing: A tale of two summits: Will the EU27 agree on a major leap forward?
Online Briefing, YouTube, 27.06.2025