How Europe’s fiscal rules are strangling growth
The 2024 Stability and Growth Pact reforms entrench austerity and stifle investment.
Paul De Grauwe
How to fight inflation without subsidizing bankers at taxpayer’s expense
Central banks are paying billions in interest to commercial banks through remunerated reserves.
Green money without inflation
Funding an ecological transition in Europe via ‘green money’ bonds would be economically justifiable. To what extent can the money created by the central bank
Why Russia Is Politically And Militarily Strong But An Economic Dwarf
Last week I saw a surprising statistic: the GDP of Russia is of the same order of magnitude as the combined GDP of Belgium and
Bitcoin Is Not The Currency Of The Future
There seems to be no end in sight for the Bitcoin bubble. This comes close to the great bubble developments that we have known in
Why Facebook Should Be Taxed And How To Do It
The new information technologies have created a whole range of companies that have become extremely profitable. The most successful ones are in the list of
Catalonia And Brexit: The Same Nationalism
The British Prime Minister, David Cameron, will not enter the history books as an enlightened leader. However, when in 2014 he had to decide to
Brexit Creates Window Of Opportunities For The EU
The British government has officially started the “divorce” procedure from the European Union. This procedure must be completed within two years. In April 2019 the
How Far Should We Push Globalisation?
The discussions about CETA, the trade agreement between Canada and the European Union, have focused almost exclusively on two questions. They are important but certainly
How To Prevent Brexit From Damaging The EU
The mandate of Theresa May’s government, as she stated when taking over as the UK’s Prime Minister, is to “make a success of Brexit”. Although
The EU Should Take The Side Of The Losers Of Globalization
How should the European Union react to the decision of the British people to withdraw from the union? This is the question that is at
The ECB Grants Debt Relief To All Eurozone Nations Except Greece
It looks like Greece may get some debt relief. There is as yet no certainty about this because some German politicians continue to conduct rear-guard battles
Why The European Union Will Benefit From Brexit
The discussions about Brexit have centered around the question of whether it is in the national interest of the United Kingdom to remain in the
The UK’s Renegotiation: Keeping Up Appearances
How far does the UK’s draft renegotiation proposal go in reforming the country’s EU membership? Paul De Grauwe writes that the deal is largely an exercise in
Quantitative Easing (QE) And Public Investment
Since the start of this year the ECB has been applying “quantitative easing” (QE), i.e. a program injecting large amounts of money into the economy.