With little fanfare, the Eurogroup of 19 Eurozone finance ministries published in December its report detailing progress on how to strengthen and deepen the Economic and Monetary Union (EMU). Written in dry bureaucratic language, the Report Summary hardly appeared on the radar screens of (...)
The latest tariff debate between the United States and China, and between the US and the European Union, could give the impression that tariffs are the only impediment to global trade. Yet, trade flows are also burdened by other, far less transparent, measures: non-tariff barriers. Indeed, the (...)
In less than 25 years, the Italian political system has experienced three watershed elections, an unmatched record among most (if not all) Western European democracies. In 1994, the entire Italian political galaxy, which had been dominated by Christian Democracy party for almost 50 years, (...)
The Community of Advantage by Robert Sugden has just been published by Oxford University Press. The author is a professor at the University of East Anglia, a member of the British Academy, and an influential economist. In his youth, influenced by Nobel Prize winner James Buchanan, Sugden worked (...)
Background to MIFID, MIFIR and EMIR
Version 2 of the Markets in Financial Instruments Directive (MIFID II) is a particularly important piece of recent European Law due to the extent and scale of its impacts on professionals operating in capital markets. MIFID II was enacted in 2014, and the (...)
US President Donald Trump’s (in)famous tweet-storms have been used as anecdotal evidence of his volatility, anger, etc., but they are also an important source of policy information. After all, it has been repeatedly noted how Trump uses social media, particularly Twitter, as a way of addressing (...)
Crises, shortages, and bad news are often dominating daily politics and media coverage. Under the radar of politics and media, however, highly desirable developments have been taking place. Among those is growing GDP per capita across the OECD since the 1990s. The strong economic growth in the (...)
WP 2018-11. Executive Summary.
Why all the fuss?
The nub of the dispute is Italy’s budget plans, which have been rejected by the European Commission (EC). The budget claims to increase public indebtedness by 2.4% in 2019 rather than the previously approved figure of 1.6%. However, the EC is unhappy about the violation of (...)
There exists more or less a consensus that the state must promote the arts. This exists even among many who know that state intervention brings market distortions, and it should be clear the arts are no exception. The case of the Salon de Paris, investigated by F. Etro, S. Marchesi and E. (...)Main topics