Author: Hugo Radice

Hugo Radice is Life Fellow at the School of Politics and International Studies, University of Leeds. He may be contacted on his academic webpage.

  • A New Strategy for Higher Education

    In the British Labour Party’s 2017 election manifesto, the pledges to abolish university tuition fees and reintroduce maintenance grants were widely seen as vote winners, but that was the extent of the party’s policy commitments toward the sector. Since the election, Labour has supported staff and students in challenging the yawning gap between highly-paid vice-chancellors … Keep reading »

  • Reshaping Fiscal Policies In Europe

    Enforcing Austerity, Attacking Democracy On December 9th 2011 the European Council announced a new Fiscal Compact, as part of the series of measures undertaken in order to resolve the Eurozone sovereign debt and banking crises. It was incorporated into the Treaty on Stability, Coordination and Governance (TSCG), signed by 25 EU governments in March 2012, subsequently … Keep reading »

  • Why Carney’s Appointment as Bank of England Governor Should be Challenged

    The appointment of Mark Carney as next Governor of the Bank of England has been greeted with universal acclaim. In the House of Commons Ed Balls was quick to congratulate Chancellor George Osborne on his choice, and on the evening TV news both former Chancellor Alistair Darling and self-styled monetary maverick David Blanchflower were of … Keep reading »

  • The Consequences of the EU Bank Rescue

    Through the second half of 2011 there were persistent signs of financial stress in many banks right across Europe – not only in Greece, Ireland, Portugal, Spain and Italy, but in France and even Germany too. The banks were already struggling to meet the higher capital and reserve requirements that have been emanating from the … Keep reading »

  • The Next Banking Crisis

    In the ongoing Euro-crisis, our political leaders are constantly criticized for ‘playing catch-up’ and not being ‘ahead of the curve’ (although others might feel that they are completely round the bend). Perhaps, therefore, it is time to look up from the turmoil in the sovereign bond markets and the counsels of the European Union, dust … Keep reading »

  • Germany and the Eurozone Sovereign Debt Crisis: the Lessons of History

    “The eurozone has decided that the losses of private sector creditors should be socialized and the ultimate burden fall on the taxpayers of deficit countries. The latter will then suffer first a slump and then years of fiscal austerity.” — Martin Wolf, “The eurozone after Strauss-Kahn,” Financial Times, 18 May 2011. With pig-headed persistence, Germany … Keep reading »

  • Britain’s Austerity Budget: A Class Act

    The June Budget Following the inconclusive outcome of the British general election on May 6th, the ‘centrist’ Liberal Democratic Party decided to turn sharply to the right by agreeing to join the Tories in a coalition government. In the run-up to the election, the Tories had argued strongly that Britain faced the prospect of a fiscal … Keep reading »

  • Cutting Public Debt: Economic Science or Class War?

    In The Bullet No. 345, Ingo Schmidt showed how the credit rating agencies have sparked an assault by international bondholders on the sovereign debt of Greece, where workers are being made to pay heavily for the fiscal crisis of the state. The following day, April 28th, the London-based Institute for Fiscal Studies made a major … Keep reading »