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Forget "light" forms of conditionality.
But it was the wrong sort of conditionality.
How many times have you heard politicians wrap themselves in that cloak of conditionality?
Again, a mixture of conditionality and in-work support is needed to make reform effective.
If politics in the periphery turns sour, that sort of conditionality could prove impossible to enforce.
That is the kind of conditionality designed to appeal to German sensibilities.
One positive impact could result from imposing some kind of conditionality on the distribution of aid.
The ugly: In our earlier notes, we warned of the danger of "conditionality creep" in Spain.
But there is also the matter of conditionality - what more Spain would have to do in return.
The endless forms of conditionality enacted by Congress to shape the conduct of U.S. foreign policy are generally ineffective, if not actively counterproductive, IMHO.
Unless we are completely relaxed about long-term worklessness – and all the evidence tells us we should not be – some form of conditionality seems to be essential.
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