Varoufakis, Yanis, (2015), “A New Approach To Eurozone Sovereign Debt”, Social Europe Journal, 17 Αυγούστου Greece’s public debt has been put back on Europe’s agenda. Indeed, this was perhaps the Greek government’s main achievement during its agonizing five-month standoff with its creditors. After years of “extend and pretend,” today almost everyone agrees that debt restructuring is essential. Most important, this is true not just for Greece. Σχετικές Αναρτήσεις Horváth, Bálint, Huizinga, Harry, Ioannidou, Vasso, (2015), “European …Read More

Mody, Ashoka, Wolff, Guntram, (2015), “Still vulnerable: the euro area’s small and medium-sized banks”, Bruegel publications, 14 Αυγούστου The European Central Bank’s 26 October 2014 publication of the results of a comprehensive assessment of 130 banks under its oversight (ECB, 2014) identified problems in terms of non-performing assets and capital shortfalls. Nevertheless, the outcome brought a sense of relief to financial markets. Unlike stress tests conducted in July and December …Read More

Siviero, Stefano, Neri, Stefano, (2015), “Low inflation in the Eurozone”, Voxeu, 15 Αυγούστου EZ inflation has been falling steadily since early 2013, turning negative in late 2014. This column surveys a host of recent research from Banca d’Italia that examined the drivers of this fall, its macroeconomic effects, and ECB responses. Aggregate demand and oil prices played key roles in the drop, which has consistently ‘surprised’ market-based expectations. Towards the end of 2014 …Read More