@Claudia_Sahm Puts me in mind of a sit com/chekov-style play. Have you seen the interview that Akerlof gave to @SPIEGEL_Wirtsch in 2003 calling for folks to go to the streets? Krugman is on war path. Meanwhile, Yellen is preparing for power. Dynamics within the in-group itself are fascinating.
@JoMicheII @K_K_K_K_K_log @battleforeurope @barneypanofsky5 @alearesu @ForeignPolicy Absolutely confirm this. In fact, I think Jo was a bit taken aback at haste with which I apologized and corrected myself. As I say, if there is any fault – and @battleforeurope seems cool – it is as much mine as anyone’s. Me = author -> responsible. Have a good day everyone.
@battleforeurope @K_K_K_K_K_log @barneypanofsky5 @JoMicheII @alearesu @ForeignPolicy Perfect. Thanks. Get it. Sorry for not digging deeper first time and getting it more precisely right and for not thinking to ask you straight off. Share your lack of interest in labels. Cheers.
RT @ItaliAuto: Good Morning… ☀️With … 1974 #AlfaRomeo Tipo 33 TT 12 😍 … Arturo Merzario 💕 … Great weekend everyone 👍😊 Tim Scott /…
@BenBakkum An essay that had incorporate Kuroda San as well would have been truly dope.
@ThiagoKrause2 I have this fantasy that one day I am going to visit Thiago in Rio and I am going to buy him a drink or two or three in thanks for the lovely tweets he writes about my stuff.
@K_K_K_K_K_log @battleforeurope @barneypanofsky5 @JoMicheII @alearesu @ForeignPolicy Thanks v much, but in fairness to @JoMicheII he in no way compelled me. It was my nervousness in these matters and lack of time to check, counter-check etc. Fault is as much mine as Jo’s. I asked @battleforeurope but he hasn’t replied. “Left eurosceptic” ok as moniker?
@battleforeurope @barneypanofsky5 @JoMicheII @alearesu @ForeignPolicy Hi. Sorry we have been talking about you in the third person. Rude. Euroscepetic ok as an appelation?
@LochgellyDL @zachdcarter Say more. Thats really intriguing. Linking figure that @zeithistoriker and others were focused on for a long-time was Lighthizer. Mnuchin’s Treasury also needs investigation. Brings back memories. Come back Lighthizer, all is forgiven. Or maybe you meant this another way?
@JoMicheII @alearesu @ForeignPolicy @BBonizzi Nice to meet you @BBonizzi thanks. A
@JoMicheII @alearesu @ForeignPolicy Thanks again for reading with such close attention.
RT @bfuste: Tenia pendent aquest "Europe’s decarbonisation challenge? Wir schaffen das" d'@adam_tooze. Hi ha moltes coses interessants, per…
Tracking historical ascent of figures like Janet Yellen involves reprising cycles of forgetting & recollection. Here @zachdcarter reminding us in 2013 of Yellen’s track record in 1990s. huffpost.com/entry/janet-ye… But does 2021 mark a break? A long read: foreignpolicy.com/2021/04/01/jan… https://t.co/Xo6VDgHlgo
RT @RaimondoFabbri: La sottile linea di demarcazione fra il Tecnocrate ed il Politico. Un interessante articolo di @adam_tooze per @Foreign…
@JoMicheII @alearesu @ForeignPolicy Thanks Jo. What would be a better description.
@NathanTankus @DavidBeckworth @XxiBorza They faced tough choices. Those were some pretty daunting pay off matrices. The @UliVolz formulation is a. Funny b. Captures a key truth c. Is a great way to hammer a point home to folks (say in Germany) who dont grasp it at all. In 2011 he wasn’t arguing with you!
Looking forward to having my pessimism on BVerfG NextGen EU corrected here. 🙂 twitter.com/Marta_Pilati22…
@NathanTankus @DavidBeckworth @XxiBorza Agreed. Problem is that sometimes history doesn’t open a big window of opportunity through which to access what with hindsight seems like better choice. And there may be no viable way back. Im very open to a. tragic interpretation of 1992, or b. eternal damnation for Trichet.
In June 1992 in the midst of the Tangentopoli crisis, Mario Draghi gave a speech on privatization on the royal yacht Britannia. Brains amongst the eurosleaze. Its really smart and frank. ilfattoquotidiano.it/in-edicola/art… For more check out Chartbook Newsletter #18 adamtooze.substack.com/p/chartbook-ne… https://t.co/o46gYHvK81
@NathanTankus @DavidBeckworth @XxiBorza Going to have to duck out but point of difference may be that 1992 peg breaks were sovereignty-infringing catastrophes, not sensible “economic” adjustments. EMS put you at risk of those. EMU promised to protect, if, you could eliminated redenomination risk. That was the gamble.
@NathanTankus @DavidBeckworth @XxiBorza My point is that the UK is not a sensible case against which to contrast Italy’s experience inside the EMU because their crises in 1992 were different and were perceived as such at the time by those who had to take the decision.
@NathanTankus @DavidBeckworth @XxiBorza If Italy had been in Britain’s position either politically of financially in 1992 I imagine the advocates of the vincolo esterno would have lost the argument. Think about 1992 in Italy, there are many ways to lose your sovereignty not all of them monetary!
In a startling inversion of the normal pattern, developing country reserves increased in 2020 crisis rather than draining. Why? 1. Borrowing 2. Sudden collapse in imports -> “improvement” in trade balance. Powerful results from @eurodad d3n8a8pro7vhmx.cloudfront.net/eurodad/pages/… https://t.co/4Tq2CIwSmi
@XxiBorza @NathanTankus @DavidBeckworth Folks … the background counterfactual here is not national monetary sovereignty, but the actual historical choice since the 1970s, i.e. EMS or EMU. EMS is maximally disempowering and Bundesbank-centric. EMU gives you some inside leverage.
RT @moisabanero: Lectura recomendadísima sobre los retos a los que se enfrentan Janet Yellen 🇺🇸 y Mario Draghi 🇮🇹 para reorientar a la tecn…
"Goodbye, Chicago boys. Hello, M.I.T. gang.” As @paulkrugman says, from the 1990s it was MIT that ruled the roost – implication being that actually existing neoliberalism a la Clinton, Blair was all theirs. For more see foreignpolicy.com/2021/04/01/jan… nytimes.com/2015/07/24/opi… https://t.co/6REzhdiIn8
RT @UliVolz: @DavidBeckworth Back in the days, I dubbed this Dylanomics: "When you ain't got nothing, you got nothing to lose." https://t.c…
RT @DavidBeckworth: Fascinating: "A country can only lose what it has, and in Europe the countries that joined EMU–spare Germany–apparent…
RT @profsufi: Next paper coming up at NBER CF meeting: current and former members of Treasury Department discuss whether the PPP (paycheck…
Yellen ascended to pinnacle of US economic policy on a profile that combined liberalism on labour and hawkishness on deficits. Since 2016 that has come apart. A piece for @ForeignPolicy foreignpolicy.com/2021/04/01/jan… https://t.co/NXRn6eIgs9
In Italy Draghi is synonymous with 1990s privatizations. On their contentious history this by @alearesu from 2020 is very interesting. che-fare.com/aresu-paradoss… For more see Chartbook Newsletter #18 adamtooze.substack.com/p/chartbook-ne… And @ForeignPolicy foreignpolicy.com/2021/04/01/jan… https://t.co/a7HC5NxAfW
RT @Victor_Ayala: Excelente artículo de @adam_tooze sobre @SecYellen y Mario Draghi “In the 1990s, you didn’t need to be a naive exponent…
RT @UliVolz: @NeverTooLateFo2 @adam_tooze @jjreade Back then, @lemondefr hailed the introduction of the euro as the “end of the German mone…
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