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Enrico Grazzini

Enrico Grazzini is a business journalist, essayist on economics and business strategy consultant. For more than 30 years he has worked for many Italian newspapers and magazines such as such as Corriere della Sera, MicroMega, Il Fatto Quotidiano, Economiaepolitica.

Enrico Grazzini

Stiglitz Advocates A Dual Currency System In Italy But Why Not For The Whole Eurozone?

Enrico Grazzini 25th July 2018

Joseph Stiglitz, the Nobel Prize winner for economics, has recently written an article titled “Can the euro be saved?”. He wrote: The euro may be approaching another crisis. Italy, the eurozone’s third largest economy, has chosen what can at best be described as a Eurosceptic government. This should surprise no one. The backlash in Italy […]

Berlusconi’s New Lira Or Fiscal Money?

Enrico Grazzini 4th October 2017

The former Italian prime minister Silvio Berlusconi has officially launched a project to issue a new national currency complementary to the euro as the ace to win the upcoming political elections. With his proposed New Lira, Berlusconi aims to strengthen the right-wing alliance between his Forza Italia, the anti-immigration and anti-EU Northern League led by […]

Another Way To Overcome Italy’s Banking and Economic Crises

Enrico Grazzini 11th January 2017

The most urgent task of the new Gentiloni government is to solve the serious problem of Monte dei Paschi di Siena and other banks with recapitalization troubles – such as Popolare di Vicenza, Veneto Banca Carige, Banca Etruria, CariChieti, Banca delle Marche, and CariFerrara. Even the recapitalization of Unicredit, Italy’s biggest bank by assets, could […]

Why Fiscal Money Is Better Than Helicopter Money And QEP At Beating Deflation And Austerity

Enrico Grazzini 8th November 2016

Here we examine the main differences between Fiscal Money or Tax Discount Bonds (TBDs) which are issued by the state and backed by the future tax revenues, Helicopter Money, that involves a central bank dropping free money straight into people’s pockets – and Quantitative Easing for the People (QEP). Helicopter Money (HM) has recently been […]

Why Issuing Fiscal Money Could Help Exit The Italian (And Eurozone) Crisis

Enrico Grazzini 29th September 2016

Fiscal Money is the most suitable instrument – and perhaps the only one – to overcome Italy’s serious and enduring crisis. The Fiscal Money project can be implemented both in Italy and other Eurozone countries to exit the liquidity trap by increasing aggregate demand. It can also help tackle the weakness of the Italian banking […]

Hans Böckler Stiftung Advertisement

The macroeconomic effects of re-applying the EU fiscal rules

Against the background of the European Commission's reform plans for the Stability and Growth Pact (SGP), this policy brief uses the macroeconometric multi-country model NiGEM to simulate the macroeconomic implications of the most relevant reform options from 2024 onwards. Next to a return to the existing and unreformed rules, the most prominent options include an expenditure rule linked to a debt anchor.

Our results for the euro area and its four biggest economies—France, Italy, Germany and Spain—indicate that returning to the rules of the SGP would lead to severe cuts in public spending, particularly if the SGP rules were interpreted as in the past. A more flexible interpretation would only somewhat ease the fiscal-adjustment burden. An expenditure rule along the lines of the European Fiscal Board would, however, not necessarily alleviate that burden in and of itself.

Our simulations show great care must be taken to specify the expenditure rule, such that fiscal consolidation is achieved in a growth-friendly way. Raising the debt ceiling to 90 per cent of gross domestic product and applying less demanding fiscal adjustments, as proposed by the IMK, would go a long way.


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ILO advertisement

Global Wage Report 2022-23: The impact of inflation and COVID-19 on wages and purchasing power

The International Labour Organization's Global Wage Report is a key reference on wages and wage inequality for the academic community and policy-makers around the world.

This eighth edition of the report, The Impact of inflation and COVID-19 on wages and purchasing power, examines the evolution of real wages, giving a unique picture of wage trends globally and by region. The report includes evidence on how wages have evolved through the COVID-19 crisis as well as how the current inflationary context is biting into real wage growth in most regions of the world. The report shows that for the first time in the 21st century real wage growth has fallen to negative values while, at the same time, the gap between real productivity growth and real wage growth continues to widen.

The report analysis the evolution of the real total wage bill from 2019 to 2022 to show how its different components—employment, nominal wages and inflation—have changed during the COVID-19 crisis and, more recently, during the cost-of-living crisis. The decomposition of the total wage bill, and its evolution, is shown for all wage employees and distinguishes between women and men. The report also looks at changes in wage inequality and the gender pay gap to reveal how COVID-19 may have contributed to increasing income inequality in different regions of the world. Together, the empirical evidence in the report becomes the backbone of a policy discussion that could play a key role in a human-centred recovery from the different ongoing crises.


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ETUI advertisement

The four transitions and the missing one

Europe is at a crossroads, painfully navigating four transitions (green, digital, economic and geopolitical) at once but missing the transformative and ambitious social transition it needs. In other words, if the EU is to withstand the storm, we do not have the luxury of abstaining from reflecting on its social foundations, of which intermittent democratic discontent is only one expression. It is against this background that the ETUI/ETUC publishes its annual flagship publication Benchmarking Working Europe 2023, with the support of more than 70 graphs and a special contribution from two guest editors, Professors Kalypso Nikolaidïs and Albena Azmanova.


DOWNLOAD HERE

Eurofound advertisement

#AskTheExpert webinar—Key ingredients for the future of work: job quality and gender equality

Eurofound’s head of information and communication, Mary McCaughey, its senior research manager, Agnès Parent-Thirion, and research manager, Jorge Cabrita, explore the findings from the recently published European Working Conditions Telephone Survey (EWCTS) in an #AskTheExpert webinar. This survey of more than 70,000 workers in 36 European countries provides a wide-ranging picture of job quality across countries, occupations, sectors and age groups and by gender in the context of the Covid-19 pandemic. It confirms persistent gender segregation in sectors, occupations and workplaces, indicating that we are a long way from the goals of equal opportunities for women and men at work and equal access to key decision-making positions in the workplace.


WATCH HERE

Foundation for European Progressive Studies Advertisement

Let’s end involuntary unemployment!

What is the best way to fight unemployment? We want to know your opinion, to understand better the potential of an EU-wide permanent programme for direct and guaranteed public-service employment.

In collaboration with Our Global Moment, Fondazione Pietro Nenni and other progressive organisations across Europe, we launched an EU-wide survey on the perception of unemployment and publicly funded jobs, exploring ways to bring innovation in public sector-led job creation.


TAKE THE SURVEY HERE

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