Mazzolini, G. & Mody, A. (2014) “Austerity Tales: the Netherlands and Italy“, Bruegel Think Tank, 03 Οκτωβρίου.   The analysis in this article warns that the deflation is likely to be a country-specific phenomenon, requiring counter measures at the country level In 2008 and early-2009, most euro area countries joined in an internationally-coordinated stimulus of the global economy to ward off the menacing crisis. But by late-2009, especially after the …Read More

Siekmann, H. & Wieland, V. (2014) “The German Constitutional Court’s decision on OMT: Have markets misunderstood?“, Centre for Economic Policy Research, Policy Insight No. 74, Οκτώβριος.   The European Central Bank’s announcement of the Outright Monetary Transactions (OMT) program in summer 2012 is widely credited, not least by the ECB itself, as a key factor in the subsequent decline of sovereign risk premia in the Eurozone. Following the February 2014 …Read More

Blanchard, O. (2014) “Where danger lurks“, International Monetary Fund, Finance and Development, Σεπτέμβριος.   The recent financial crisis has taught us to pay attention to dark corners, where the economy can malfunction badly Until the 2008 global financial crisis, mainstream U.S. macroeconomics had taken an increasingly benign view of economic fluctuations in output and employment. The crisis has made it clear that this view was wrong and that there is …Read More

Renzi, M. (2014) “Prime Minister Matteo Renzi on Growth and Jobs in Italy – A Conversation With Matteo Renzi“, Council on Foreign Relations (CFR), 24 September.   PORAT: Good afternoon. My name is Ruth Porat, and I’m a member of the board of the Council and am delighted to welcome you here today to our meeting with Prime Minister Matteo Renzi. I’d also like to welcome the CFR members around …Read More