Machiarelli, Corrado (2019), “Is politics becoming one of the ECB’s biggest problems?”, Blogs.lse, June The number of Eurosceptic parties in the European Parliament is expected to play a role in the future of the Eurozone. Looking at the European election results for the 19 member countries, the Eurosceptics have gained 134 seats out of 751 total seats in the new Parliament, compared to 104 seats in the previous Parliament. The …Read More
Eurosystem staff macroeconomic projections for the euro area
ECB, (2019), “Eurosystem staff macroeconomic projections for the euro area”, June Although real GDP growth was stronger than expected in the first quarter of 2019, recent indicators point to weaker growth in the second quarter and a moderate increase during the remainder of 2019. Economic sentiment indicators have continued to worsen across euro area countries over recent months, notably in sectors exposed to global trade. This reflects the ongoing weakness …Read More
What Brexit has taught Italy about its own prospects of leaving the EU
Gianluca Piccolino, Davide Angelucci and Pierangelo Isernia, (2019), “What Brexit has taught Italy about its own prospects of leaving the EU”, LSE EUROPP, 6 June If other countries were to follow the UK in voting to leave the EU, then Italy would be one of the most likely candidates. But what impact has Brexit had on Italian public opinion? Drawing on findings from a new survey, Gianluca Piccolino, Davide Angelucci …Read More
A European atlas of economic success and failure
Zsolt Darvas, Jan Mazza and Catarina Midoes, (2019), “A European atlas of economic success and failure”, Bruegel, 3 June Economic growth was diverse across EU regions, yet it is crucial to control for region-specific factors in assessing growth performance. We find that there are rather successful regions in many EU countries, suggesting that the EU can provide a good framework for growth. Yet the worst performers are more concentrated in …Read More
European Parliament election results: The long view
Veron, Nicolas (2019), “European Parliament election results: The long view“, Bruegel.org, May Comments about the European Parliament election results are predictably all over the place, and typically reveal more about the commentator than anything else. To get a clearer sense of direction, it may be useful to compare the outcome not only with recent opinion polls, or the previous election, but also with all the other ones before. Σχετικές Αναρτήσεις …Read More
Europe’s Citizens Say They Want a More Political EU
Jean Pisani-Ferry, (2019), “Europe’s Citizens Say They Want a More Political EU”, Project Syndicate, 30 May The recent European Parliament election suggests that a growing share of European voters sees things differently from national governments. Whereas citizens clearly used their votes to express policy preferences, very few governments are ready for a more political EU leadership. Relevant Posts James, Harold (2019), «Game of EU Thrones» , The Project-Syndicate.org, May Steve …Read More
Imagine choosing Mario Draghi’s successor on merit
Swaha Pattanaik, (2019), “Imagine choosing Mario Draghi’s successor on merit”, Reuters, 29 May Imagine, for a moment, that the next head of the European Central Bank was chosen on merit. In reality, the process of selecting Mario Draghi’s successor is likely to involve a complex tug of war between rival governments as they carve up the European Union’s top jobs. But as Finnish central bank chief Olli Rehn told a …Read More
How to design the European Deposit Insurance Scheme
Esa Jokivuolle and George P. Pennacch, (2019), “How to design the European Deposit Insurance Scheme”, VoxEU, 31 May Much of financial regulation has been focusing on adequately pricing risk taking by lenders. This column argues that a multinational deposit insurance system such as the proposed European Deposit Insurance Scheme has important advantages, but can also create conflicts among its member nations due to potential deposit insurance subsidies that differ across …Read More
The procyclicality of banking in the euro area
Huizing, Harry and Laeven Luc (2019), “The procyclicality of banking in the euro area“, VOX CEPR Policy Portal, Mάιος A high procyclicality of banks’ loan loss provisioning is undesirable from a financial stability perspective, as it implies that bank capitalisations are more negatively affected at the trough of the business cycle, exactly when capital market conditions for banks are at their weakest. This column finds that provisioning procyclicality in the euro …Read More
Game of EU Thrones
James, Harold (2019), “Game of EU Thrones” , The Project-Syndicate.org, May 27 The European Parliament election was a long and complex story with a surprising and, for many, unsatisfactory outcome. Yet notwithstanding the muddled conclusion, a new European political order seems to be emerging – one that is likely to leave traditional parties of both the left and the right behind. Σχετικές Αναρτήσεις Daniel Gros, (2019), «Europe’s Silent Majority», CEPS, May 27 …Read More