Daniel Gros, (2019), “Who holds Italian government debt? A Primer”, CEPS, Policy Insights No 2019-11/Ιούνιος 2019 The debt to GDP ratio of Italy remains at 130% of GDP, the second highest in the euro area. Moreover, under current policy settings it is poised even to increase, rather than fall, over the next few years. This outlook has led the European Commission to start a debt-driven excessive deficit procedure against the …Read More

Blogs.lse,  (2019), “Financial crises and the dynamics of financial de-liberalisation”, Ιούνιος Financial crises play a key role in changing existing policies concerning financial markets and institutions. Orkun Saka, Nauro Campos, Paul De Grauwe, Yuemei Ji and Angelo Martelli provide new evidence for the negative impact of financial crises on the process of financial liberalisation. They also show that such interventions are only temporary and that the liberalisation process restarts quickly after a financial crisis. These results support …Read More

Pattanaik, Swatha, (2019) “Η παρακαταθήκη του Ντράγκι στη μάχη του πληθωρισμού“, Η Καθημερινή, Ιούνιος Στο φετινό ετήσιο συνέδριο της ΕΚΤ στην Πορτογαλία εγκωμιάστηκε ο απερχόμενος πρόεδρός της Μάριο Ντράγκι, ενώ εξετάστηκαν εις βάθος τα πρώτα είκοσι χρόνια του ευρώ. Ο Ιταλός αφήνει στον άγνωστο ακόμη διάδοχό του ένα μεγάλο ανολοκλήρωτο έργο: να ενισχύσει τον πεισματικά χαμηλό πληθωρισμό. Ωστόσο συμβάλλει στην προσπάθεια όσο περισσότερο μπορεί προτού αποχωρήσει. Ο Ντράγκι, η θητεία …Read More

Darvas, Zsolt, (2019), “Uncertainty over output gap and structural-balance estimates remains elevated“, Bruegel.org, Ιούνιος The EU fiscal framework strongly relies on the structural budget balance indicator, which aims to measure the ‘underlying’ position of the budget. But this indicator is not observed, only estimations can be made. This post shows that estimates of the European Commission, the IMF, the OECD and national governments widely differ from each other and all …Read More

Μιχάλης Μητσός, Οντίν Λιναρδάτου, (2019), “Ξένες Επενδύσεις, Παιδεία και Εξωστρέφεια: Πώς Σώθηκε Η Ιρλανδία”, διαΝΕΟσις, Ιούνιος Η δεύτερη χώρα της Ε.Ε. που, μόλις λίγους μήνες μετά την Ελλάδα, μπήκε σε μνημόνιο, κατάφερε να βγει και να επιστρέψει στην ανάπτυξη. Πώς όμως κατόρθωσε μια χώρα 5 εκατομμυρίων κατοίκων να φιλοξενεί 1.400 πολυεθνικές επιχειρήσεις και να εξάγει πάνω από 100% του ΑΕΠ της; Η διαΝΕΟσις ταξίδεψε στην Ιρλανδία, αναζητώντας τις απαντήσεις. Σχετικές …Read More

Gilbert, Mark, (2019), “How to Build a European Banking Champion“, Bloomberg Opinion, Ιούνιος Earlier this month, Elisa Martinuzzi suggested that merging Deutsche Bank AG and UBS Group AG would, on paper at least, create a European banking champion. She concluded, though, that the regulatory obstacles to such a deal would probably be insurmountable. But there is a three-way combination that could create a regional lender with the heft to take on …Read More

Eurostat, (2019), “Euro area job vacancy rate at 2.3%” ,  NewsRelease – EuroIndicators 96  , Ιούνιος The job vacancy rate in the euro area (EA19) was 2.3% in the first quarter of 2019, stable compared with the previous quarter and up from 2.1% in the first quarter of 2018, according to figures published by Eurostat, the statistical office of the European Union. In the EU28, the job vacancy rate was 2.4% …Read More

Eurostat, (2019),  “Annual inflation down to 1.2% in the euro area” NewsRelease – EuroIndicators 97, Ιούνιος The euro area annual inflation rate was 1.2% in May 2019, down from 1.7% in April 2019. A year earlier, the rate was 2.0%. European Union annual inflation was 1.6% in May 2019, down from 1.9% in April 2019. A year earlier, the rate was 2.0%. The lowest annual rates were registered in Cyprus , …Read More

Vickers, John (2019), “The case for market-based stress tests“, VOX  CEPR Policy Portal, Ιούνιος The stability of the financial system depends on the capital of banks and other financial institutions. But the measurement of bank capital depends on regulatory accounting methods, which, as events a decade ago showed dramatically, do not always reflect economic realities in a timely fashion. This column argues that market-based measures should play a greater role in …Read More