Joint liability in international lending: A proposal for amending the Treaty of Lisbon

Kaushik Basu, Joseph Stiglitz 02 January 2014

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The sovereign debt crisis exposed weaknesses in the Eurozone’s financial architecture that may not have been fully anticipated when the founding treaties of the Eurozone were drafted. Key among these weak spots are the provisions of the Treaty of Lisbon which regulate intergovernmental debt obligations and preclude direct financing of sovereigns by the ECB.

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Topics:  EU institutions International finance

Tags:  eurozone, Maastricht Treaty, sovereign debt, moral hazard, Lisbon Treaty, Eurozone crisis, no-bailout clause

Further thoughts on the Irish referendum

Kevin Hjortshøj O’Rourke 26 June 2008

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Thanks to two opinion polls which were commissioned in a hurry after the Irish rejection of the Lisbon Treaty, we now know a little bit more about the profiles of those who voted yes and no on June 12.

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Topics:  EU institutions Politics and economics

Tags:  Ireland, Lisbon Treaty, Irish no

Europe Was Going Too Far

Alberto Alesina, Romain Wacziarg 22 June 2008

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On June 12, the Irish people dealt yet another blow to European political integration. While many European leaders and commentators despair at the Irish rejection of the Lisbon Treaty, they should see it as an opportunity to reflect upon what is wrong with the process of European political integration. They missed such an opportunity after the rejection of the Constitution and instead tried to bypass the will of the people by adopting without referenda essentially the same provisions.

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Topics:  EU institutions

Tags:  Lisbon Treaty, Irish no

Lisbon Treaty: Democracy vs efficiency?

Sara Hagemann 21 June 2008

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The two main ‘selling points’ of the Lisbon Treaty are that it increases democracy and efficiency in the EU. These were not enough for the Irish evidently. Either they were not explained sufficiently clearly, or Irish voters may have voted on the basis of other issues – including some unrelated to the Treaty text itself. Whatever the reasons, many observers have pointed out that the same result would have prevailed elsewhere if other EU populations had also been asked to vote.

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Topics:  EU institutions

Tags:  Lisbon Treaty, Irish no

The Irish “no” and the rich-poor/urban-rural divide

Kevin Hjortshøj O’Rourke 14 June 2008

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Like many of my compatriots, I spent Friday evening in a pub. In my case the pub was in the heart of France’s beautiful Chartreuse region, and it was full to the brim of French and Dutch football supporters, the latter increasingly rambunctious as the evening wore on.

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Topics:  EU institutions

Tags:  European Union, globalisation, Lisbon Treaty, Irish no

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