CES Ifo. ‘The Black June’ by former Ifo President Hans-Werner Sinn.

Giuseppe Sandro Mela.

2016-12-28.

 

 

Il CES, Center of Ecomonic Studies, CESIfo GmbH, segnala il libro del former Ifo President Hans-Werner Sinn.

Der Schwarze Juni, il giugno nero.

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Il curriculum del prof. Hans-Werner Sinn è impressionante.

«Hans-Werner Sinn (born 7 March 1948) is a German economist and was President of the Ifo Institute for Economic Research from 1999-2016. He serves on the German economy ministry’s advisory council. He is Professor of Economics and Public Finance at the University of Munich. ….

In the 2006 Handelsblatt ranking of German economists (Ökonomen-Ranking VWL), based on cross citations of SSCI papers in SSCI journals, Sinn ranked fourth ….

 His 2003 book “Ist Deutschland noch zu retten?” has stimulated policy discussion in Germany and influenced the Agenda 2010 reforms. With more than 100,000 copies in print, the book is one of the most popular public policy monograph in recent history. It has also been published in English as “Can Germany be Saved?” by MIT Press in 2007. As a reaction to the criticism of his book in the media, Sinn wrote a follow-up book in 2005, “Die Basarökonomie”. His book the Green Paradox and his prior research on this topic triggered a worldwide debate, as did Sinn’s research on Target balances, which is summarised in his book Die Target Falle. Sinn’s book Casino Capitalism was named as one of the 50 best economics books of all time by Handelsblatt. His book “The Euro Trap: On Bursting Bubbles, Budgets, and Beliefs”, published by Oxford University Press in 2014, reviews the effects of the adoption of the euro as a common currency and, in particular, the policy measures undertaken to combat the euro crisis. The book was hailed as “perhaps the most important scholarly book on the euro in at least a decade” by Kenneth Rogoff.

Since 1989 Sinn has served on the Advisory Council of the German Ministry of Economics, and represented the Free State of Bavaria on the Board of Supervisors of HypoVereinsbank for ten years. ….

In July 2012, Sinn was one of the eventually more than 270 signatories of an open letter written by Walter Krämer of the Technical University of Dortmund against Chancellor Angela Merkel’s Brussels agreement on direct recapitalization for ailing European banks.»

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Questo libro parla senza peli sulla lingua, senza terminologia politicamente corretta. È asettico come una sala operatoria, ma il bisturi è quanto mai affilato.

«The Brexit vote, the decision of the German Constitutional Court on the bond purchases of the European Central Bank and the refugee crisis»

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«Brexit, Failures of the ECB, Refugees – Europe can’t go on this way.»

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«The EU is out of joint.»

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«First it was the euro disaster, then misguided ECB policies, the wave of refugees and Brexit»

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«The situation has been precarious»

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«The southern euro countries have been in a persistent crisis mode for nearly a decade, the ECB has been shuffling hundreds of billions of bad risks onto the shoulders of taxpayers, the EU Commission has given up its attempts to safeguard the treaties»

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«the southern countries’ overdraft liabilities in the Eurosystem have risen beyond all reasonable thresholds. »

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Euro doesn’t work.

Il libro del prof. Hans-Werner Sinn pone una semplice domanda:

‘can Europeans return to more amicable relationships‘?

 

«The Brexit vote, the decision of the German Constitutional Court on the bond purchases of the European Central Bank and the refugee crisis have incited former Ifo President Hans-Werner Sinn to write a new book entitled “Der Schwarze Juni” (The Black June) which will be released in October by Herder in Germany.

Brexit, Failures of the ECB, Refugees – Europe can’t go on this way. The EU is out of joint. First it was the euro disaster, then misguided ECB policies, the wave of refugees and Brexit: Is Europe about to fail?

The situation has been precarious, as Hans-Werner Sinn tells us in his new book, for some time. The southern euro countries have been in a persistent crisis mode for nearly a decade, the ECB has been shuffling hundreds of billions of bad risks onto the shoulders of taxpayers, the EU Commission has given up its attempts to safeguard the treaties, Germany has taken in huge quantities of refugees, and the southern countries’ overdraft liabilities in the Eurosystem have risen beyond all reasonable thresholds.

And then came “The Black June 2016” – with Brexit and a major decision by the German Constitutional Court. For Hans-Werner Sinn, this month, with its devastating decisions, is a turning point. After a thorough analysis, he is convinced: “Germany cannot wait any longer but must act now.”

He has thus put forward a compact programme for a new start in Europe, not stopping at radical proposals, such as asking for an immediate re-negotiation of the Lisbon EU Treaty. Only by reforming the EU Treaty, Sinn is convinced, is it possible to avoid slipping into a major crisis that would no longer be manageable. Only in this way can Europeans return to more amicable relationships and safeguard their prosperity.»