The ECB is under twin pressures, both of which are only likely to increase. Firstly, with interest rates stuck at minus 0.4% ECB policy is diverging from Fed policy; secondly,…
Publications
Press freedom in Europe is more fragile now than at any time since the end of the Cold War». This pessimistic and rather surprising statement appears at the beginning of…
A merger between the German conglomerate Siemens and French rail firm Alstom was blocked by the European Commission at the beginning of February over concerns that the new European rail…
In light of increasing income inequality and wealth inequality in many Western democracies, some social scientists believe that democracy is in jeopardy. Do the rich have a disproportionally high influence…
The recent paper “20 Years of the Euro: Winners and Losers” by Gasparotti & Kullas estimates that the introduction of the euro increased the pro-capita income in Germany and the…
Latest Political Developments Given the media’s focus on the March 29th Brexit date, the views of present and former EU political leaders captivated recent mainstream media. Former Italian prime minister…
It is common opinion that financial cycles generate business cycles and crises, and that central banks intervene to sterilise this causal link. But there are reasons to doubt both statements.
In January, there were two interesting speeches by senior ECB figures which provided some insight as to likely future policy. Speaking at an event in Riga to commemorate the fifth…
The collection of tariffs on imports not only involves direct costs, which is the price of the tariff itself, but also numerous indirect costs. Civil servants, as an example, employed…
Paris has decided to recall its ambassador from Rome, further deepening one of the worst crises between the two neighbouring countries in recent European history. The dramatic (some say theatrical)…
