Erik Jones
About Erik Jones
Contributions to Survival
Policy and Briefing Papers
Publicity Photos
Review Essays and Specialist Publications
Textbook Chapters, Conference Publications, Encyclopaedia Entries, and Festschrifts
Videos and Pictures
The Political Independence of the ECB in Question
Understanding the New European Parliament
Size and Politics
Sovereign Debt Restructuring and Debt Mutualisation in the Euro Area
Europe's Complicated Democracy
Ending the fiction:… on The Political Independence of…
Your Guide To The 20… on The Forces Behind the New…
Brexit is about Brit… on A Very European (British)…
Brexit is about Brit… on Why Brexit is (Still) a Bad…
Brexit is about Brit… on The UK Referendum is a Bad Ide…
E!Sharp columns
Summary collection
Weekly note
Month / September 2016
21/09/2016 by Erik Jones
The Future of Central Bank Independence
Central Banks, US Politics
Central bank independence is under attack. This is true particularly in the United States. When the dust began to settle on the presidential primaries in spring 2016, three of the four leading candidates – one Democrat and two Republicans – supported legislation to audit the Federal Reserve (or Fed) and to compel it to follow a rigid and transparent rule for changing policy in response to changes in a limited range of macroeconomic variables. The reason has a lot to do with the same populist resentment that swirls around global trade. And while the Fed has not received the attention given to the trans-Atlantic Trade and Investment Partnership, for example, it is arguably just as important.
Italy's Referendum Risks
Uncategorized, Weekly note
Financial markets, Italy, political risk, US Politics
The U.S. Ambassador to Italy, John Phillips, caused a minor uproar by telling the Italians that international investors were going to be disappointed with a 'no' vote in the upcoming referendum on constitutional reforms. At about the same time, Finch announced that a popular rejection of the reforms would put downward pressure on the country's ratings. The Italians responded that the ambassador should mind his own business and that the ratings agencies should find some new analysts. Italy will be fine whatever the referendum outcome, they insisted. If anything, this unwelcome foreign intervention is going to encourage the Italians to vote against the reforms just to prove a point. The echoes with Brexit were obvious – and widely noted. So is Italy headed for disaster or is this just another storm in a teacup?
A Compelling Vision for Europe
E!Sharp columns, Uncategorized, Weekly note
European integration, Political Communication, Political Union
Europe's heads of state and government face a real dilemma. They want to attract support for European integration from the people of Europe and they also want to show the outside world that the European Union remains a major source of dynamism and innovation. So the question is how best to achieve those two goals. Should they propose a new project that will attract everyone's attention or should they try to come up with some 'vision' that explains why Europe still matters?
Referendums, Europe, and the 'Forbidden Planet'
European integration, Political Communication, Political Union, UK referendum debate
The British referendum sent shockwaves across Europe. Contrary to expectations, the vote to Leave defeated the vote to Remain by 52 to 48 percent. The turnout was high and the outcome was uniformly distributed. The only major exceptions were the votes in favor of remaining in the European Union (EU) cast in London, Northern Ireland, and Scotland. Without those areas of support, the vote to leave would have been even more decisive. The explanations are mostly negative. The English voted overwhelmingly against outside interference, elites, experts, and immigration. They also voted against 'fear mongering'. What they voted for was a mixture of self-determination and something different. How they will use that autonomy remains to be seen. At the moment, the British ruling elite is too engaged in soul-searching and leadership contests to offer much in the way of vision.