Fontagné, L., Mohnen, P. and Wolff, G. (2014), ” No Industry, no Future?“, Bruegel, 19  June. In a context of weak growth, high unemployment, unbalanced public finances and persistent external deficit,we are witnessing the return of a proactive approach to industrial policy and, even in France the return of direct intervention in industry. Sector-focused public intervention is thus once again conceivable, while industry is once more perceived as a reservoir …Read More

Kerry, W., Portier, J., Ruggerone, L. & Verkoren, C. (2014) “What a Drag: The Burden of Nonperforming Loans on Credit in the Euro Area“, iMFdirect, 23 June.   High and rising levels of nonperforming loans in the euro area have burdened bank balance sheets and acted as a drag on bank profits. Banks, striving to maintain provisions to cover bad loans, have had fewer earnings to build-up their capital buffers. This …Read More