The coronavirus crisis and a euro area contained—in a prisoner’s dilemma
As the eurozone faces into a deep recession, a transparent prisoner’s dilemma is preventing it from stopping the slide.
Economy
Analysis and debate on the European economy: growth and investment, fiscal and monetary policy, trade, industry and inequality.
The new role of monetary policy in the Covid-19 crisis and its climate application
What the US central bank has been doing to address the coronavirus crisis is precisely what is needed to tackle climate change.
EU-wide inequality is back to pre-crisis levels
After almost a decade, EU-wide inequality finally regained its previous low of 2009 due to relatively strong growth in the poorer member states between the Baltic and the Balkans.
Not (yet) up to the task: how eurozone members are gambling away post-Covid economic recovery
The Eurogroup needed a highest-common-factor agreement to match the coronavirus crisis but intergovernmentalism left it with the lowest common denominator.
Eurobonds: why they are needed, how they would work
By Einstein’s purported definition, madness would be repeating the errors of the eurozone crisis and expecting a different outcome—eurobonds would break with that.
EUR-bonds in the corona crisis and beyond
Thomas Theobald and Silke Tober
Eurobonds are needed to anchor macroeconomic stability and offer a safe path out of the coronavirus storm.
Capitalism’s triple crisis
After the 2008 financial crisis, we learned the hard way what happens when governments flood the economy with unconditional liquidity, rather than laying the foundation for a sustainable and inclusive recovery.
Combating Covid-19 and climate change—one fight
The same socially oriented approach must be taken to defeat the coronavirus and, over the longer run, stop climate catastrophe.
A Social-Green Deal, with just transition—the European answer to the coronavirus crisis
Concluding the Social Europe series on ‘just transition’, Maja Göpel zooms out to elaborate the shift in narrative entailed.
Reforming Europe’s fiscal rules
Why do the Maastricht criteria compare budget deficits and public debt with GDP rather than budget revenues? That’s a good question.
Coronavirus crisis: now is the hour of Modern Monetary Theory
Peter Bofinger argues MMT provides intellectual justification for a ‘whatever it takes’ fiscal response to potentially the biggest global postwar economic challenge
Welcome but inadequate: European measures to counter the corona crisis
More monetary-policy easing is still a one-club approach—fiscal support is also needed at EU level.
Europe under quarantine
The coronavirus crisis has exposed the shared vulnerability of Europe’s interdependence. Time to turn that into a strength.
The Covid-19 debt deluge
The Covid-19 crisis may have set the stage for a debt meltdown long in the making, starting in the Asian economies on the front lines.
Covid-19 is an opportunity for Europe
The EU has always advanced on the back of crises. The Covid-19 outbreak represents a chance to pools resources towards a co-ordinated fiscal policy.
Preventing the next virus outbreak
The coronavirus is not a natural disaster but the outcome of a system of agriculture subordinating animal, and human, welfare.