BETA

Should Greece leave the eurozone?

2011-09-16

There seems to be no solution to the Greek crisis – as yet. Some say Greece will leave the eurozone, which would ease its situation and that of the EU. What is the probability of a Greek secession?

Bad news continues to come from Greece, the most battered country of the eurozone. At the beginning of this week, the risk premium (CDS - credit default swap) on Greek bonds jumped to a new high, reaching 4,700 basis points on Monday. Just to compare: the same indicator for Hungarian securities also reached a two-and-a-half-year high, but still stood at tenth of the Greek premium, at around 470 basis points on Tuesday. In addition, the yield on 10-year Greek bonds soared to 24%, while it went to an incredibly high 70% (!) in the case of the two-year paper.

eurozone greece cds spreads

Why is the EU not liked despite so far being a successful project?

2011-07-26

As a project, the EU has been fairly successful, although as a brand, it is an utter failure. What is the reason for this contradiction?

The much-debated Hungarian Prime Minister Viktor Orbán was surely right. Ironically enough, not exactly the way he wanted to be. When evaluating the EU presidency of Hungary, he stated that for the opposition Socialists, the European Union is “a matter of belief,” but for the governing Fidesz, it’s simply “a matter of reason.” Mr. Orbán would most probably be offended if he was called a great branding expert, but still, he nailed it. He highlighted a sad fact: so far the EU is a much better product than brand.

eu brand orbán van rompuy

Big ain’t beautiful – why Hungary has troubles with its higher education

2011-05-24

State funding in Hungarian higher education encourages a pursuit of size rather than quality. The educational profile is in a mismatch with the requirements of the economy, which is a crucial bottleneck of development. Where is the way out from this situation?

Higher education is a perennial topic of debate. This is especially so in Central and Eastern Europe, where it constitutes one of the key problems with regards to competitiveness and convergence with the West.

education ireland europe 2020 competitiveness

Should there be a “Europe” brand?

2011-05-11

Does Europe have an identity that could be used and managed in terms of branding?

An increasingly common feature of EU policy documents is the reference to place branding and its potential for European countries, regions and cities. Indeed, recent years have seen the growth of place branding based on its potential to assist in economic, tourism, social and cultural development. This practice is popular and significant amounts of money are invested by local and national authorities in branding activities. Place brandings can be applied to all scales of places, i.e. from towns and cities to national and supranational entities.

brand entity identity european union euroclick

Should Europe abandon nuclear energy after Fukushima?

2011-05-06

Germany’s close-to-business government has made a 180-degree turnaround by coming out against nuclear energy after Fukushima. Why are other countries seemingly not following Berlin?

Since the tragedy of Fukushima I have been pondering whether the Finnish people, or the Swedes, the French, the Swiss, the Czechs, the Russians, the Chinese, the South Africans, the Turks – all of these folks, including their governments and leading scientists, are fools or simply just gamblers. Whether they are really stupid and ignorant of the fact that potential disasters are hiding in each of their nuclear plants. Or are they simply cynics? Or masochists and/or sadists, who like to toy with their own lives and the fate of their children? Is that the reason why they do not follow the suit of the Germans?

germany nuclear energy japan earthquake euroclick

About the blog

This blog delivers opinions and interpretations on current events about the economy in the context of the EU, Hungary and Central and Eastern Europe. We live in turbulent times; the financial crisis affects all of us and has changed some economic rules and paradigms, as well as those of European integration. Here, you will read intellectually inspiring pieces – you do not necessarily have to agree with every post, but you will probably have your own opinion concerning their topics. Our goal is to make you think about what is happening in the European economy. Hungarians and expats with different backgrounds living in Hungary will be asked to contribute: businesspeople, managers, researchers, journalists, representatives of NGOs, those who have special knowledge in this field. Politicians? We will see. Party propaganda – no thanks; policy issues – why not? If you feel like writing a post, do not hesitate to contact me: martin.jozsef.peter@gmail.com.

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About the editor

József Péter Martin was trained at the Corvinus University of Budapest as an economist; he also studied in Leuven (Belgium) and Groningen (The Netherlands). He started his career in journalism at the Hungarian business daily Világgazdaság, then worked 12 years at the editorial office of business weekly Figyelő, where, after several other positions, he was editor-in-chief from 2003 until 2009. Nowadays he appears regularly in the domestic and international media as an economic and EU analyst and columnist. He is author of more than a thousand articles and dozens of studies on economy and politics. In 2010, he co-authored a book on the financial crisis (“Álomcsőd” – The Default of a Dream). He also holds lectures on European studies and economic journalism at the Corvinus University of Budapest. He is a member of the supervisory board of Transparency International in Hungary.

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