Category: Eurozone
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ECB’s Transmission Protection Instrument
The ECB recently announced the Transmission Protection Instrument to prevent fragmentation as it tightens monetary policy. What are the criticisms so far?
The ECB’s other inflation problem
Interest rate hikes by the ECB have the potential to increase the spreads of countries in a way that is disconnected from economic fundamentals and hence increase the risk of market fragmentation.
Reforming the Stability Pact and Growth Pact: the Italian view
Recent commentary on whether the reform of the Stability and Growth Pact is necessary and a new proposal.
Monetary-Fiscal policy mix in the Eurozone
A call for an institutional framework to ensure that the Eurozone’s monetary and fiscal stance at the aggregate level are coherent.
Will the NGEU funds be effective?
The Next Generation EU funds have the potential to significantly boost growth in EU. But will they?
Progress report on the European Banking Union
Europe’s Banking Union has not achieved its goals but has benefited the Eurozone’s banking sector in unexpected ways.
The ECB’s new inflation strategy
New research on euro area inflation expectations under the old inflation strategy. Will the new targeting fare better?
Revisiting EU’s fiscal framework
EU fiscal rules have been suspended but when they will be reinstated, by the end of 2021, EU countries will have high levels of debt. Brand new research on how these rules could be modified.