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

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

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

Daniel Gros, (2019), “Europe’s Silent Majority”, CEPS, 27 May A first key result, perhaps the most important one, of this election is that Europe’s silent majority has finally come out to vote. Opinion polls had shown for some time that confidence in the EU and its institutions had risen to sharply in recent years. But this needed to be validated by actual votes. This has now happened. Voter participation has …Read More

Peter Bofinger, (2019), “Industrial policy: is there a paradigm shift in Germany and what does this imply for Europe?”, Social Europe, 27 May A paper from the German economy minister on a national industrial policy has gone down like a lead balloon. Peter Bofinger argues it needs to be reflated—and coloured green—at a European level. Relevant Posts Catarina Midoes and Guntram B. Wolff, (2019), «Germany’s even larger than expected fiscal …Read More

Ryan Heath, (2019), “European election’s winners and losers”, Politico, 27 May This European election was not a contest with an overarching continental narrative, but a series of national and regional battles. For the two main party groupings in the European Parliament (each losing seats and with less than a quarter of the vote), there will be relief that the results were not worse than they turned out. Here’s POLITICO’s guide …Read More

Mohamed A. El-Erian, (2019), “How Inflation Could Return”, Project Syndicate, 22 May After years of low inflation, investors and policymakers have settled into a cyclical mindset that assumes advanced economies are simply suffering from insufficient aggregate demand. But they are ignoring structural factors at their peril. Relevant Posts Barry Eichengreen, (2019), «The Return of Fiscal Policy», Project Syndicate, 13 May Daniel Gros, (2019), «Who’s Afraid of Low Inflation?», Project Syndicate, 9 …Read More

Cinzia Alcidi and Daniel Gros, (2019), “Public debt and the risk premium: A dangerous doom loop”, VoxEU, 23 May The relationship between high public debt and low interest rates is once again at the forefront of debate.This column shows that countries with high debt levels pay a risk premium. This creates the potential for self-reinforcing loops of high debt and high risk premia, which can become explosive. Relevant Posts Giancarlo …Read More

Zsolt Darvas, Jan Mazza and Catarina Midoes, (2019), “How to improve European Union cohesion policy for the next decade”, Bruegel Policy Contribution No 8, May The academic literature on the effectiveness of the European Union’s cohesion policy is inconclusive: some studies find positive long-term impacts, others find positive but only short-term impacts, while others find no or even negative impacts. This range of results arises from major complicating factors, related …Read More