After a period of political turmoil, Romania is building on its strengths and looking outwards for investment to stimulate growth.

Last year, Romanian politics was rocked with infighting between the country’s Prime Minister, Victor Ponta, and President, Traian Basescu. Clara Volintiru writes that the country has largely moved on from its political squabble, and is now positioning itself as an attractive target for investment compared with its neighbours in Central and Eastern Europe. Whether this strategy will bring the growth […]

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A Eurozone-wide IMF programme could save both

In past decades, the International Monetary Fund has had a potent reputation, especially in the developing world. In its programmes in Europe, however, the IMF has had to take a back seat to the desires of the European Commission and the European Central Bank, whose policies have thus far been less than successful. In light of this, Sony Kapoor makes […]

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The second Greek rescue programme was not merely late, but also insufficient, making a third programme inevitable.

Last week the IMF published a review of the financial assistance given to Greece during its debt crisis. One of the key limitations identified in the report was that debt relief for the country was provided far later than it should have been. Waltraud Schelkle writes on the fallout from the report, which generated angry responses from both the European […]

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Brussels blog round-up for 1 – 7 June: IMF admits mistakes in Greek bailout, Brussels vs Brussels, and a red card for EU legislation?

Chris Gilson takes a look at the week in Brussels blogging. The EU centre and the crisis One of the main stories this week is the IMF’s admission that it made mistakes in the way that it and its Troika partners of the EU and European Central Bank (ECB) carried out Greece’s first bailout in 2010. The European Commission strongly disagreed […]

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Competing bureaucratic mandates have produced a ‘clash of organisations’ that impedes effective crisis management in Europe.

How does regional economic integration impact upon global economic governance? André Broome examines the evolution of bureaucratic cooperation between the International Monetary Fund (IMF) and the European Union between the signing of the Maastricht Treaty in 1992 and the launch of the euro in 1999. He finds that the exercise of informal influence by advocates for change within international organisations […]

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The troika should recognise the efforts made by Portugal to rebalance its finances and adjust the country’s bailout conditions.

In May 2011 Portugal negotiated an IMF-EU bailout package of 78 billion euros, designed to help the country stabilise its finances. In return Portugal agreed to implement a number of reforms, with a target to reduce its budget deficit to 2.5 per cent by 2014. Paulo Trigo Pereira assesses the country’s progress over the last two years, and suggests some […]

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