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Could Europe face the next recession?

Jan Priewe, (2019), «Could Europe face the next recession?», Social Europe, 19 Μαρτίου That the eurozone is incomplete is an assessment shared by almost all economists and economic policy-makers. The prevailing opinion is that the European banking union is the most important missing part, in connection with a capital-markets union. A recent book, Still Time to Save the Euro, published by Social Europe, addresses six key economic problems which are …Read More

Η FED, η ΕΚΤ και το «ντόμινο» των επιτοκίων

Νατάσα Στσινού, (2019), «Η FED, η ΕΚΤ και το «ντόμινο» των επιτοκίων», naftemporiki.gr Η Fed έστειλε μήνυμα ότι παγώνει τις αυξήσεις των επιτοκίων τουλάχιστον για φέτος και ενδεχομένως για περισσότερο και η ΕΚΤ όχι μόνο δεν είναι έτοιμη για ομαλοποίηση της πολιτικής της, αλλά σχεδιάζει νέο γύρο φθηνών δανείων για τις τράπεζες και πολλοί πιστεύουν ότι σύντομα θα εξετάσει και την επανενεργοποίηση του προγράμματος ποσοτικής χαλάρωσης (QE), που τερμάτισε μόλις …Read More

Euro area and EU28 job vacancy rates at 2.3%

Eurostat/Euro area and EU28 job vacancy rates at 2.3%/18 Μαρτίου 2019 The job vacancy rate in the euro area (EA19) was 2.3% in the fourth quarter of 2018, up from 2.1% in the third quarter of 2018 and from 2.0% in the fourth quarter of 2017, according to figures published by Eurostat, the statistical office of the European Union. In the EU28, the job vacancy rate was also 2.3% in …Read More

Whatever it takes: what’s the impact of a major nonconventional monetary policy intervention?

Carlo Alcaraz,  Stijn Claessens, Gabriel Cuadra, David Marques-Ibanez and Horacio Sapriza, (2019), «Whatever it takes: what’s the impact of a major nonconventional monetary policy intervention?», ECB Working Paper Series No2249, Μάρτιος We assess how a major, unconventional central bank intervention, Draghi’s “whatever it takes” speech, affected lending conditions. Similar to other large interventions, it responded to adverse financial and macroeconomic developments that also influenced the supply and demand for credit. …Read More

How Worrying Is the Recent Downgrading of German Growth Forecasts?

Alvaro Leandro and Jeromin Zettelmeyer, (2019), «Ηow Worrying Is the Recent Downgrading of German Growth Forecasts?», Peterson Institute for International Economics, 15 Μαρτίου Growth in Germany has been very weak since the third quarter of 2018. The reason is a combination of one-off factors, including a drought and a new EU emissions testing procedure, which held back car sales last year, as well as cooling demand for German exports. As …Read More

What are central banks for?

Adam Tooze, (2019), «What are central banks for?», Social Europe, 18 Μαρτίου The eurozone remains mired in unemployment while the European Central Bank targets only inflation. Adam Tooze begins a series of Social Europe columns by explaining the hidden history of the Fed’s more successful dual mandate. Σχετικές Αναρτήσεις Gregory Claeys, Maria Demertzis and Jan Mazzaa, (2018), «Monetary policy framework for the European Central Bank to deal with uncertainty», Bruegel, …Read More

Highest proportion of government expenditure goes to social protection and health

Eurostat/Highest proportion of government expenditure goes to social protection and health/15 Μαρτίου 2019 In 2017, total government expenditure in the European Union (EU) amounted to 45.8% of gross domestic product (GDP). This share has steadily decreased since 2012, when it stood at 48.9% of GDP.  Among the main functions of general government expenditure in the EU, ‘social protection’ is by far the most important, equivalent to 18.8% of GDP in …Read More

Draghi Makes Sure Stimulus Lives On Even After He Leaves the ECB

Craig Stirling, (2019), «Draghi Makes Sure Stimulus Lives On Even After He Leaves the ECB», Bloomberg, 15 Μαρτίου Mario Draghi’s latest stimulus salvo means his successor as European Central Bank chief may not be forced into the kind of monetary policy U-turn he once faced. Σχετικές Αναρτήσεις Bloomberg, (2019), «Europe Isn’t Ready for the Next Recession», 8 Μαρτίου Ashoka Mody, (2019), «The ECB has reached its political limits. Its consequences …Read More

Αυξηση ΑΕΠ 0,6% βλέπει φέτος το Ifo για τη Γερμανία

Η Καθημερινή, (2019), «Αυξηση ΑΕΠ 0,6% βλέπει φέτος το Ifo για τη Γερμανία», 15 Μαρτίου Ο ρυθμός ανάπτυξης της γερμανικής οικονομίας θα περιοριστεί σε μόλις 0,6% το 2019, προέβλεψε χθες το οικονομικό ινστιτούτο Ifo του Μονάχου, διότι η επιβράδυνση της παγκόσμιας οικονομίας θα οδηγήσει σε σημαντική εξασθένηση της ζήτησης για γερμανικά βιομηχανικά προϊόντα. Προηγουμένως το Ifo προέβλεπε ρυθμό ανάπτυξης 1,1% για το 2019, ενώ το 2018 το ΑΕΠ της Γερμανίας …Read More

The European Union must change its supervisory architecture to fight money laundering

Joshua Kirschenbaum and NicolasVeron, (2019), «The European Union must change its supervisory architecture to fight money laundering», 26 Φεβρουαρίου Money laundering scandals at EU banks, often linked to Russia, have become pervasive. Reform of anti–money laundering (AML) supervision is urgent. Illicit actors have repeatedly moved billions of dollars through individual banks. This flow sustains the Kremlin’s patronage system at home by serving as an outlet for elites while it simultaneously …Read More