Dell’Ariccia G., Rabanal P. and SandriWednesday D., (2018), “Unconventional monetary policies in the euro area, Japan, and the United Kingdom”, Hutchins Center Working Paper #48, 17 October Ιn response to the global financial crisis of 2008, the central banks of the euro area, Japan, and the United Kingdom deployed a variety of unconventional monetary policies in an effort to support distressed financial markets and slowing economies. In a new Hutchins …Read More
Downward trend in the share of persons at risk of poverty or social exclusion in the EU
Eurostat/Downward trend in the share of persons at risk of poverty or social exclusion in the EU/16 October 2018 In 2017, 112.9 million people, or 22.5% of the population, in the European Union (EU) were at risk of poverty or social exclusion. This means that they were in at least one of the following three conditions: at risk of poverty after social transfers (income poverty), severely materially deprived or living in households …Read More
Annual inflation up to 2.1% in the euro area
Eurostat/Annual inflation up to 2.1% in the euro area/October 2018 The Euro area annual inflation rate was 2.1% in September 2018, up from 2.0% in August. A year earlier, the rate was 1.5%. European Union annual inflation was 2.2% in September 2018, stable compared to August. A year earlier, the rate was 1.8%. These figures are published by Eurostat, the statistical office of the European Union. The lowest annual rates were registered in …Read More
Greece Is Trapped
Ferdinando Giugliano, (2018), “Greece Is Trapped”, Bloomberg, 17 October Months after exiting its international rescue program, the country faces renewed trouble in its banking system. There is no easy fix: money is short and investor patience thin. But it looks increasingly like the gradual approach pursued by Athens and the euro zone authorities is running out of steam. Lenders still bear the scars of a decade of economic crisis. Borrowers …Read More
A look back: what Eurozone “risk sharing” actually meant
Marcello Minenna, (2018), “A look back: what Eurozone “risk sharing” actually meant”, Financial Times Alphaville, 10 October The common narrative is that rescue programs have helped deeply troubled countries avoid sovereign bankruptcy or widespread bank failures. But, by avoiding extreme outcomes, these programs also protected the banks of the core countries — Germany and France, in particular — that had accumulated huge exposures to the periphery before the crisis. At …Read More
The Long and Winding Road to Italy’s Budget
Fergal O’ Brien, (2018), “The Long and Winding Road to Italy’s Budget”, Bloomberg Europe, October 13 Italy’s government is sticking to its budget plans, ignoring the concerns of investors and a bond selloff that’s pushed its yield premium to a five-year high. Since announcing that the deficit ratio will widen to 2.4 percent of GDP next year, Deputy Prime Ministers Matteo Salvini and Luigi di Maio have rejected criticism by …Read More
ELSTAT – THE Greek Economy
ELSTAT, (2018), “The Greek Economy”, 12 October The “Greek Economy” publication aims to provide the latest key economic information on Greece in a clear and comprehensive manner. Written in both the Greek and English languages, it is designed for users of statistics who seek updated information on recent economic developments, as well as long-term economic trends. Relevant Posts ELSTAT: The Greek Economy, 13 April 2018
Greece: What to expect after the bail-out
Zsolt Darvas, (2018), “Greece: What to expect after the bail-out”, Bruegel, 9 October After being under the close scrutiny of three financial assistance programmes since May 2010, Greece has finally left the bail-out in August 2018. How different is the post-bail-out era from the preceding eight years? Will Greece be able to stand on its own? And how might the country improve its economic outlook? Relevant Posts Emilios Avgouleas, Barry Eichengreen, …Read More
One size does not fit all: European integration by differentiation
Maria Demertzis, Jean Pisani-Ferry, Andre Sapir, Thomas Wieser, and Guntram B. Wolff, (2018), “One size does not fit all: European integration by differentiation”, Bruegel, 19 September Reforming the governance of the European Union has become urgent for three reasons: to better deal with politically-sensitive topics, to manage greater external challenges and because future EU enlargement will increase the diversity of the bloc’s membership. The answer to disagreement typically has been …Read More
Euro area unemployment at 8.1%
Eurostat/Euro area unemployment at 8.1%/October 2018 The euro area (EA19) seasonally-adjusted unemployment rate was 8.1% in August 2018, down from 8.2% in July 2018 and from 9.0% in August 2017. This is the lowest rate recorded in the euro area since November 2008. The EU28 unemployment rate was 6.8% in August 2018, stable compared with July 2018 and down from 7.5% in August 2017. This remains the lowest rate recorded in the EU28 …Read More