The Financial Times: Why the Euro Is Not the Next Global Currency
by Jean Pisani-Ferry, Adam Posen on 18 October 2009
Category: OPINION PIECES AND COLUMNS
Topics: Currencies and International finance
Bruegel Director Jean Pisani-Ferry and Adam Posen, Member of the Monetary Policy Committee for the Bank of England and Bruegel Board Member, explain why the euro has not been favored as a global currency even as the dollar's dominance of the world currency markets has been met with widespread criticism. The authors point out that the euro has failed to gain special status due to "self-imposed limits on usage and adoption abroad," such as strict adherance to both ERM-II exchange rate stability requirements and to the Maastrict criteria for euro entry. Having a wider role for the euro, they argue, would be better for both the global community and the eurozone.
The piece was also published in the Financial Times Deutschland.
Eurointelligence: The Winner's Curse
by Jean Pisani-Ferry on 15 October 2009
Download: English
Category: OPINION PIECES AND COLUMNS
Topics: Budgetary and monetary policies, European and global governance
Bruegel Director Jean Pisani-Ferry raises questions about the mandate, accountability and independence of central banks in the aftermath of the financial crisis. He highlights the proposed creation of the European Systemic Risk Board (ESRB), which will probably be a de facto subsidiary of the European Central Bank, and explains that the ESRB will likely face problems when it must make decisions in which governments previously had sole authority.
Science Business: Patent Failures
by Bruno van Pottelsberghe on 14 October 2009
Download: English
Category: OPINION PIECES AND COLUMNS
Topics: Research, innovation and growth
Resident Scholar Bruno van Pottelsberghe discusses the problems that the patent systems face in both the U.S. and Europe. In the States, the lax standards for patent applications has created an enormous backlog and quality has become an issue. In Europe, on the other hand, the patent system is too fragmented to work properly.
Publico: Una Agenda Estratégica Para El Progresso de Europa
by André Sapir on 01 October 2009
Download: Spanish
Category: OPINION PIECES AND COLUMNS
Topics: European and global governance
Ahead of his presentation at the "Global Progress - Towards a Global New Deal," Resident Scholar André Sapir summarizes his Memo to the President of the European Commission, co-written with Bruegel Director Jean Pisani-Ferry. Sapir writes about the challenges the Commission faces and the priorities it must set in the aftermath of the financial crisis.
Le Monde: What Mark Will the Crisis Leave?
by Jean Pisani-Ferry on 27 September 2009
Download: English French German
Category: OPINION PIECES AND COLUMNS
Topics: Budgetary and monetary policies, European and global governance
Bruegel Director Jean Pisani-Ferry writes about the prospects for post-crisis growth in the world economy in a column published in both the French newspaper Le Monde and the German newspaper Handelsblatt. He explains that the decrease in the labor force and the reduction of capital stock will likely lead to a much slower recovery in mature economies in Europe and the United States. The approach from Europe and the U.S. has differed thus far, Pisani-Ferry writes, but they must both act proactively to ensure a smooth recovery.