International Economics

The Eurasian Economic Union: ambitions

Gonzalo Pozo-Martín. ARI 49/2015 - 8/10/2015.

The Eurasian Economic Union –officially in existence since 1 January 2015– is the most ambitious attempt yet at economically integrating the post-Soviet space. What are its successes and limitations so far? How does it alter Russia’s relations with the West? Should the EU engage it as a partner?

Stock market collapse and exchange-rate depreciation: what next for China?

Alicia García-Herrero. ARI 42/2015 - 11/8/2015 .

Two episodes of panic have broken out in China’s financial markets in the course of no more than a month: a stock market collapse and only very recently a Renminbi (RMB) depreciation engineered by the People’s Bank of China (PBoC). This note reviews what has happened so far and explores the potential consequences.

Intentionally or otherwise, Schäuble has killed off the prospect of a Grexit

Miguel Otero-Iglesias. Op-Ed - 24/7/2015.

The hard-line taken by the German Finance Minister, Wolfgang Schäuble, and the subsequent U-turn by the Greek Prime Minister Alexis Tsipras, has paradoxically reduced any real potential for a Grexit to take place.

BRICS: forging ahead despite bumpy economic prospects

Alicia Garcia Herrero & Carlos Casanova. Expert Comment 45/2015 - 14/7/2015 .

The BRICS have just held their annual summit in Russia, amid looming concerns of financial turmoil in China, Europe and beyond. While not much has come out of the meeting, the differences between its members have been evident, signalling a shift in the bloc’s future dynamics.

Give Greece a chance… again

Miguel Otero-Iglesias. Op-ed - 10/7/2015.

Angela Merkel must not amputate the Greeks from the eurozone.

How to avoid a Grexit

Federico Steinberg and Miguel Otero-Iglesias. Op-ed (English version) - 8/7/2015.

Greece needs to make reforms if it is to return to growth, and it is more likely that this will happen inside the euro than outside. The key is to reactivating the logic that has worked so many times before in Europe: solidarity in exchange for reforms.

The international position of Spanish companies: on the rise

William Chislett. ARI 36/2015 - 6/7/2015.

Spanish companies stepped up their direct investment abroad in 2014, but it was still far from the pre-crisis annual average between 2005 and 2007.

We should welcome a Greek referendum

Miguel Otero-Iglesias. Op-Ed - 29/6/2015.

Let democracy concentrate minds in Athens — and in Brussels. The Greek population needs a referendum, and if Brussels and Berlin want a yes vote, they still have two weeks for changing their narrative.

The limits to German power in the Eurozone

Federico Steinberg & Mattias Vermeiren. ARI 25/2015 - 11/5/2015.

Although Germany appears to be an uncontested hegemonic power in the post-crisis Eurozone, its power is more limited than is commonly understood.

What are the prospects for the new Chinese-led Silk Road and Asian Infrastructure Investment Bank?

Mario Esteban and Miguel Otero-Iglesias. ARI 23/2015 - 17/4/2015.

The new Silk Road is the most ambitious international initiative yet to be launched by the Chinese President, Xi Jinping. This policy has many strands, one of the most prominent being the creation of the Asian Infrastructure Investment Bank. We examine its possible implications for Europe, including Spain.