Fiscal competition and economic freedom


Fiscal competition and economic freedom

Home > Publications > IREF Newsletter > March’15 Financial & Fiscal Features Newsletter

March’15 Financial & Fiscal Features Newsletter

Greece has Plan B | US Stress Tests

Friday 13 March 2015, by Gordon Kerr, John Butler, with Enrico Colombatto

The ECB’s deal with Greece still leaves it exposed. Despite the rhetoric that countries must get their own finances in order, the ECB’s sister agency has started work on a new programme of $319 bn of mutualised debt.

US banks all pass their stress tests. However, that is not necessarily reassuring. When central banks took over testing from ratings agencies, can they be trusted that they would reveal problems potentially leading to a premature panic? UK banking may have some problems to solve.

"Financial and Fiscal Features" Newsletter is a monthly publication by the IREF. It brings latest inside information from the world of central banks and financial markets, both of which are increasingly intertwined with fiscal issues.

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