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Tag Archives: European Macroeconomics & Governance

The Value of Money, Controversial Economic Cultures in Europe: Italy and Germany

A discussion of Italian and German macro-economic cultures and performances. Villa Vigoni Editore | Verlag has published the volume “The Value of Money. Controversial Economic Cultures in Europe: Italy and Germany”, edited by Christiane Liermann Traniello (General Secretary, Villa Vigoni), Thomas Mayer (Founding Director, Flossbach von Storch Research Institute), Francesco Papadia (Fellow, Bruegel; Chair of the Selection Panel of the Hellenic Financial Stability Fund and Chair of Prime...

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Inflation!? Germany, the euro area and the European Central Bank

There is concern in Germany about rising prices, but expectations and wage data show no sign of excess pressures; German inflation should exceed 2% to support euro-area rebalancing but is unlikely to do so on sustained basis. By: Guntram B. Wolff Date: June 9, 2021 Topic: European Macroeconomics & Governance Public inflation scare? An inflation scare has erupted – at least in some countries. Interest in the term ‘inflation’ as measured by Google searches has hit a high in the...

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Belarus: a test for Europe’s foreign policy?

The forced landing of an internal EU flight is just the latest development in the President of Belarus’ efforts to cling to power. By: The Sound of Economics Date: June 1, 2021 Topic: European Macroeconomics & Governance The recent forced landing of an internal EU flight to arrest opposition activist Roman Protasevich is the latest escalation by a President who is consolidating power in the wake of unrest following the disputed results of the 2020 presidential election. The...

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What Swiss voters expect to happen next, after EU talks fail

Proponents and opponents of the Swiss-EU institutional framework agreement have different takes on the impact of a success or failure of the agreement. By: Stefanie Walter Date: May 31, 2021 Topic: European Macroeconomics & Governance This article was originally published in German by DeFacto. Switzerland’s bilateral relationship with the European Union has been the subject of intense debate for years. In 2014, the two sides began negotiations on the terms of an...

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Emergency Liquidity Assistance: A new lease of life or kiss of death?

Use of Emergency Liquidity Assistance to prop up euro-area banks needs to be more transparent; available evidence suggests its use has not always been within the rules. The Eurosystem, headed by the European Central Bank (ECB), provides liquidity to banks, and through them to the entire economy, through five channels. One, the Marginal Lending Facility, has always been small and has practically disappeared since 2008, when the ECB greatly increased the size of its operations. Two of the other...

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Digital European Economic Sovereignty? The Case of Semiconductors

Study prepared for the European Parliament's Committee on Foreign Affairs (AFET). The original paper is available on the European Parliament’s webpage. Copyright remains with the European Parliament at all times. The notion of European ‘strategic sovereignty’ is increasingly important in debates about the European Union. Given rapidly shifting global geopolitical and technology trends, and the seeming fragmentation of the multilateral order, the EU is being forced to confront its own...

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Europe must fix its fiscal rules

The pandemic has shown that the EU’s spending framework reflects an outdated economic orthodoxy. By: Maria Demertzis Date: May 27, 2021 Topic: European Macroeconomics & Governance This opinion piece was originally published in the Financial Times, the Money Review section of Kathemerini is forthcoming in El Economista. Last spring, as the economic impact of the coronavirus pandemic began to bite, the European Commission suspended the stability and growth pact (SGP), a set...

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A stronger euro comes with more responsibility

By: The Sound of Economics Date: May 19, 2021 Topic: European Macroeconomics & Governance European strategic autonomy is probably the single most used watchword in European circles, if only because of lack of consensus about what it entails. US bashing for some, a more confident and independent EU for others, the concept has well and truly moved out of the security and defence area into every area of EU policy. This is most apparent in the debate around the international role...

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Bruegel annual report 2020

The Bruegel annual report provides a broad overview of the organisation's work in the previous year. The annual report includes an overview of Bruegel’s research, governance and financial statements, and takes stock of Bruegel’s accomplishments and impact during 2020. Bruegel will continue to work to develop a proactive European strategy to deal with all the challenges ahead, providing free and open access to its research.

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Money, money, money!

The nature of money is under scrutiny as central banks begin pondering issuing digital currencies By: The Sound of Economics Date: April 30, 2021 Topic: European Macroeconomics & Governance What is a central bank digital currency (CBDC)? How is it different from the money in a private bank account, or from cryptocurrencies? What do consumers stand to gain from CBDCs? Have cryptocurrencies enabled the creation of the technology needed to guarantee anonymity, privacy and...

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