The Spanish conundrum
by Jean Pisani-Ferry on 15 March 2010
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Category: OPINION PIECES AND COLUMNS
Topics: Budgetary and monetary policies
In this article Bruegel Director Jean Pisani-Ferry puts forward the various options that Spain could use to close its yawning competitiveness gap and turn its economy around. Through competitve deflation, it can impose a wage restraint and increase competitiveness. The other options, such as through deflation or re-entering the euro rea with a devalued exchange rate, might have more straightforward results, but the repurcussions could be difficult to deal with. This Op-Ed was first published in Le Monde.
"Don't joke with inflation"
by Ignazio Angeloni on 08 March 2010
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Category: OPINION PIECES AND COLUMNS
Topics: Budgetary and monetary policies
Visiting scholar Ignazio Angeloni argues that the anti-crisis medicine proposed by the IMF- to raise inflation targets in good times- is worse than the illness and defends economic models from the accusation of irrelevance.
Wirtschaftsregierung, mode d’emploi
by Jean Pisani-Ferry on 27 February 2010
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Category: OPINION PIECES AND COLUMNS
Topics: European and global governance
In this column Bruegel Director Jean Pisani-Ferry writes about European economic governance. Pisani-Ferry points out that the Greek crisis has highlighted the need to reinforce prevention and monitoring systems as well as to develop effective crisis management mechanisms. He concedes that the creation of the Euro had some mistakes, which were probably inevitable; however he emphasizes the need to learn from experience and to start proposing feasible solutions in the current European frame. This article was also published in the French newspaper Le Monde and the Chinese Century Weekly.
Financial Regulation: A New Fortress Europe
by Nicolas Véron on 20 February 2010
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Category: OPINION PIECES AND COLUMNS
Topics: Financial markets and regulation
EU policy leaders are becoming increasingly aware that the necessary re-regulation of Europe’s financial system must not be allowed to lead to a damaging fragmentation of its internal market for financial services. However, they still seem oblivious of the risk of global financial fragmentation inherent in some of their regulatory initiatives, however well-intended. In his monthly column, Senior Fellow Nicolas Véron takes a brief look at the difficult and complex corresponding trade-offs. This op-ed was published in the Turkish weekly Referans, the French newspaper La Tribune, Forbes Russia and the Chinese Caing.com.
The Best Course for Greece is to Call in the Fund
by Jean Pisani-Ferry, André Sapir on 02 February 2010
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Category: OPINION PIECES AND COLUMNS
Topics: Budgetary and monetary policies, European and global governance
Director Jean Pisani-Ferry and Senior Fellow André Sapir argue that the best option to solve the 'Greek crisis' is to bring in the IMF for a stand-by agreement involving conditional lending to the Greek government. While the EU is hesitant to bring in the IMF, Pisani-Ferry and Sapir maintain that the IMF is better suited to handle the political problems that would accompany such a bailout. This op-ed was published in The Financial Times (2 Feb).