Duso, T.,  Gugler, K. and Szücs, Fl., (2014), “European merger policy reform”, VoxEu, 26 January. In 2004, European merger law was substantially revised, with the aim of achieving a ‘more economic approach’ to merger policy. This column discusses a recent empirical assessment of European merger cases before and after the reform. Post-reform, the outcomes of merger cases became more predictable, and the Commission prohibited fewer pro-competitive mergers. While there remains …Read More

Giuli, M., (2014), “A Disillusioned Guide to Spread Reductions”, Madariaga Paper – Vol. 7, No. 1, January. The present commentary will focus on the case of Italy, where in January 2014 the spread fell to under 200 points, recording a reduction of 80 points over the previous year. The current differential between Italian and German 10-year sovereign bond yields is back to 2011 levels, when the imminent risk of losing …Read More

Hasan, If. And Takalo, T., (2014), “Efficient retail payments: An untapped source for reviving growth in Europe?”, 24 January. Efficient retail payments are associated not only with lower direct costs but also with indirect benefits, and ultimately – with enhanced economic growth. This column presents research on different retail payment habits in the Eurozone. A correlation exists between the forms of payment in a country and its recent economic fortune. …Read More

Barysch, K., (2014), “Europe’s Top-Down Myopia”, Project Syndicate, 22 January. The EU is undergoing fundamental changes, many of which have gone largely unnoticed, owing to the overwhelming focus on large-scale top-down reforms. Officials seem not to recognize change unless it takes the form of Eurobonds, new European treaties, or policy reversals by German Chancellor Angela Merkel. But the case for small steps guided by market mechanisms is strong. Europe’s obsession with …Read More