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.
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).
The Jury is Still Out on the European Union's Crisis Performance
by Nicolas Véron on 21 January 2010
Category: OPINION PIECES AND COLUMNS
Topics: European and global governance
In his January column, Senior Resident Fellow Nicolas Véron examines the European Union's performance in reacting to the global economic crisis. He explains that while the EU has had major difficulties in the wake of the crisis, there have been several positives: the European Central Bank has been seen as a key player and has restored stability to the markets; the EU is creating the world's first supranational financial authorities; and the euro has withstood prophecies of its inevitable break-up. Véron adds, however, that the biggest challenges still lie ahead. This column was published in Forbes Russia (21 Jan), Referans (27 Jan), La Tribune (4 Feb) and on the website of the Peterson Institute for International Economics.
Le Imprese non paghino le difficolta delle banche
by Ignazio Angeloni on 19 January 2010
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Category: OPINION PIECES AND COLUMNS
Topics: Financial markets and regulation, European and global governance
In this column, Visiting Scholar Ignazio Angeloni argues that the exit phase from the financial crisis will prove particularly dangerous for European small and medium sized enterprises. Many of them, though viable in the long run, are endangered by a prolonged negative cash flow, tight lending by banks and shifting patterns of international demand and competitiveness. Public intervention (eg. through credit guarantees) to temporarily protect SMEs is justified in these circumstances.
La cura Volcker puo non bastare
by Ignazio Angeloni on 19 January 2010
Download: Italian
Category: OPINION PIECES AND COLUMNS
Topics: Financial markets and regulation, European and global governance
In this column published in the Italian Il Corriere della Sera, Visiting Scholar Ignazio Angeloni argues that the
'Volcker rule'(the recent proposal by the US administration to ban proprietary trading for comercial banks) is neither necessary nor sufficient to reduce systemic risks in the financial sector. Risks in recent years have mainly come from non-bank intermediaries (hedge funds like LTCM, investment banks, insurance companies). Pridential regulation should be as uniform as possible across types of intermediaries and jurisdictions.fileadmin/files/admin/publications/opinion_pieces_and_colums/2010/February/20100215_IA_Corriere.pdf