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Royo, Sebastián
3 articles of this author have been cited in the European Press Review so far.
Euro not to blame for currency crisis
The financial crisis is giving Eurosceptics fresh ammunition. However the financial instability of some countries is not due to their currency, the business paper Cinco Días argues: "Without doubt thanks to the euro, peripheral countries like Ireland, Portugal or Spain have profited massively from influxes of capital from surplus countries like Germany. And this capital has created imbalances that are not healthy and need to be corrected. It is also true that these countries have benefited from historically low interest rates that have boosted their economic growth but also their indebtedness, and made their booms possible. However the main problem has not been the influx of capital but the use of that capital. In Ireland (and Spain) it was used mainly to finance real estate bubbles instead of productive investment. ... But the blames lies not with the euro, as many try to claim nowadays. After all there are other countries that are not part of the monetary union, like Iceland, the UK and the US, and which have also had real estate bubbles."
» full article (external link, Spanish)
More from the press review on the subject » Fiscal Policy, » Economic Policy, » Financial Markets, » Economy, » Germany, » Spain, » Ireland, » Portugal, » Europe
Nicolas Sarkozy's European plans
The Spanish academic Sebastian Royo considers that Nicolas Sarkozy's ideas represent a rupture on both a national and a European level. "He has committed himself to burying the European Constitution that was refused by voters [in 2005] and to negotiating a mini-treaty that would then have to be ratified by the French Parliament. His programme and ideology is coherent with other European leaders in favour of economic liberalism (particularly Angela Merkel, José Manuel Barroso and Tony Blair/Gordon Brown). This will allow him to form a strategic relationship and create an axis of reforms and modernisation within the EU concentrating on getting results rather than on pursuing EU accession. However, his Gaullist defence of French interests, along with his criticism of the European Central Bank and his defence of national champions will lead him into conflict with Brussels and other Member States."
» full article (external link, Spanish)
More from the press review on the subject » EU Policy, » France, » Europe
Criticism of French presidential candidates
The Spanish professor of political science, Sebastián Royo, is critical of the attitude of candidates in the French presidential election. "The two main candidates [Ségolène Royal and Nicolas Sarkozy] are trying to distance themselves from a regime that, paradoxically, they are profoundly bound to by their political pasts and they are presenting themselves as candidates against the system to millions of French people who say they are alienated by the way the Fifth Republic works. At the same time however, they are evasive when it comes to indicating who is responsible for the problems in the country and they put the blame on the EU and European Central Bank. This strategy risks dividing French society even more and provoking further tension within the EU. The vision lacks courage. Candidates are missing an opportunity for a frank analysis of what is at the roots of problems and a presentation of realistic, innovative proposals that would allow the country to face up to the challenges of the new millennium."
» full article (external link, Spanish)
More from the press review on the subject » Domestic Policy, » France
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