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Macron gambles on reducing unemployment through greater flexibility for employers

Parsons, Nick, (2017), «Macron gambles on reducing unemployment through greater flexibility for employers», LSE EUROPP, 6 Σεπτεμβρίου French President Emmanuel Macron has pledged to reform France’s labour market regulations, but his proposals have been met with opposition from some political figures and trade unions. Nick Parsons explains that against the backdrop of falling popularity, Macron is essentially gambling that by giving employers greater flexibility, he can push down the country’s …Read More

Strong Euro Is Here To Stay

Minenna, Marcello, (2017), «Strong Euro Is Here To Stay», Social Europe, 4 Σεπτεμβρίου The euro rally on FX markets really begins to look interesting now: 1.2 on the Dollar, a level never experienced since January 2015, just before the ECB’s official announcement of its Quantitative Easing program. This year, the Euro has strengthened by over 14% against the US currency. A paradox lies between the lines: the Federal Reserve has …Read More

Differences in follow-up help to explain why revenue-based consolidation plans appear more recessionary than spending-based plans

Beetsma, Roel, Furtuna, Oana, Giuliodori, Massimo, (2017), «Differences in follow-up help to explain why revenue-based consolidation plans appear more recessionary than spending-based plans», VoxEU, 5 Σεπτεμβρίου Research has shown that planned fiscal consolidations have been less recessionary when carried out through public spending cuts rather than through increases in government revenues. This column argues that this may be at least partly due to differences in follow-up for the two consolidation …Read More

ECB Worried About the Euro? Economists Say ‘Not So Much’

Speciale, Alessandro, (2017), «ECB Worried About the Euro? Economists Say ‘Not So Much’», Bloomberg Markets, 5 Σεπτεμβρίου European Central Bank Governing Council member Ewald Nowotny said last week that the euro’s recent rise shouldn’t be “over-dramatized,” a notion that economists seem to agree with. The euro has surged more than 13 percent against the dollar this year. In terms of the real exchange rate against the euro area’s major trading partners (a …Read More

Draghi Seen Acknowledging Euro Gains at September Decision

Speciale, Alessandro, Skolimowski, Piotr, Tartar, Andre, (2017), «Draghi Seen Acknowledging Euro Gains at September Decision», Bloomberg Markets, 3 Σεπτεμβρίου Mario Draghi won’t miss the opportunity to mention the euro’s recent appreciation as he prepares to reconfigure the euro area’s stimulus settings, economists say. The European Central Bank president will express concern about the currency’s strength, a Bloomberg survey shows. While he declined to address the exchange rate last month at his appearance in …Read More

How to Renew the European Project

Schmidt, Christoph M., (2017), «How to Renew the European Project», Project Syndicate, 1 Σεπτεμβρίου The French presidential and legislative elections earlier this year have instilled new hope in the European integration project, by raising the prospect of deeper Franco-German cooperation. And yet some forms of cooperation, not least shared-liability schemes, would be a mistake. As long as member states have sovereignty over fiscal and economic policymaking, France and Germany should …Read More

Toν Οκτώβριο αναμένονται οι ανακοινώσεις ΕΚΤ για το QE

Η Καθημερινή/Reuters, (2017), «Toν Οκτώβριο αναμένονται οι ανακοινώσεις ΕΚΤ για το QE», 2 Σεπτεμβρίου Οσοι αναμένουν κάποια συνταρακτική είδηση από τον Μάριο Ντράγκι για την πορεία του προγράμματος ποσοτικής χαλάρωσης των 2,3 τρισ. ευρώ, μετά τη συνεδρίαση της Ευρωπαϊκής Κεντρικής Τράπεζας (ΕΚΤ) την προσεχή Πέμπτη, μάλλον θα απογοητευθούν. Για να μάθουν κάτι νεότερο, θα πρέπει να περιμένουν έως τον Οκτώβριο. Αναλυτές προβλέπουν ότι θα ανακοινωθεί τον επόμενο μήνα η παράταση …Read More

The cycle of wage inequality in Spain: The impact of the boom and bust in the housing market

Bonhomme, Stéphane , Hospido, Laura, (2017), «The cycle of wage inequality in Spain: The impact of the boom and bust in the housing market», VoxEU, 4 Σεπτεμβρίου The link between the rise in unemployment and the housing market in the US during the Great Recession is well documented. This column shows that in the case of Spain, the rise and fall in demand for construction workers following developments within the …Read More

More Action Needed on European Bank Profitability

Caparusso, John, Goel, Rohit, Kerry, Will, (2017), «More Action Needed on European Bank Profitability», IMF Blog, 30 Αυγούστου European banking has made considerable progress in the past few years: Banks have built up capital, regulation is stronger and supervision has been enhanced. But profitability remains weak, posing risks for financial stability. In a sample of more than 170 large European lenders with combined assets of $35 trillion, roughly half generated …Read More

Euro area unemployment at 9. 1 %

Eurostat/Euro area unemployment at 9.1%/31 Αυγούστου 2017 Τhe euro area (EA19) seasonally-adjusted unemployment rate was 9.1% in July 2017, stable compared to June 2017 and down from 10.0% in July 2016. This is the lowest rate recorded in the euro area since February 2009. The EU28 unemployment rate was 7.7% in July 2017, stable compared to June 2017 and down from 8.5% in July 2016. This remains the lowest rate …Read More

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