Publications

Economists do not regard the world as a zero-sum game, but as a positive sum game in which all voluntary participants in an interaction are winners and no one loses.…

WP 2017-01.  Since the financial crisis, government debt ratios have increased in many countries. Most studies indicate that there is a negative association between high medium- and long-term debt ratios…

Criticisms of bank stress tests continue to mount, particularly as banks continue to struggle. A new problem recently emerged: the marked shortfall between the market capitalisation of most European banks…

Purely for geopolitical reasons, namely frustration at the failure of the governments of individual member states to respond to repeated calls for “structural reforms”, your authors had taken the view…

Has the European Court of Justice interrupted a honeymoon between Gazprom and the EU? The energy giant Gazprom has been investigated by the EU Commission over an alleged abuse of…

Europe recently faces, on one side, the potential isolationism of the USA (and the UK) and, on the other, aggressive competition from China. This provides an opportunity to the EU…

Central Banks Pray for Electoral “Shocks”. Forced to Nationalise Monte dei Paschi, Italy Looks in Trouble, but Cleverly Plays its Sicilian Defence. Central Banking How will Central Banks cope with…

A radical change is gradually emerging in the attitude of the European Union towards multinational hi-tech giants. On the one hand, the new approach may be explained by the fact…

When interest rates on government bonds of struggling countries in the Eurozone rose heavily, up to the summer of 2012, ECB president Mario Draghi announced on 26. July 2012 that…

The Eventual Impact of Rising Bond Yields. Further Cracks Appearing in the ‘Global Consensus’ of Bank Supervision. Central Banking Global Bond Market Yields are Rising The ECB’s recently announced 6…