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Policy Brief

The Blue Bond Proposal

This Policy Brief proposes a Blue Bond to resolve high debt levels in vulnerable states.

By: and Date: May 5, 2010 Topic: European Macroeconomics & Governance

Soaring debt levels and the crisis in Greece has sharpened the focus on fiscal sustainability among eurozone members.

The European Union has to tackle high debt levels in vulnerable states which are compounded by a hike in risk premiums on government bonds leading to a debt trap, while designing ways to efficiently finance debt.

Furthermore, European solidarity with weaker states should not undermine incentives for individual members to pursue fiscally sustainable policies.

This Policy Brief proposes a Blue Bond to resolve these challenges.

The authors, Bruegel Non-resident Fellow Jakob von Weizsäcker and Jacques Delpla from Conseil d’Analyse Économique, Paris, explain the economics behind their proposal, its institutional underpinnings and the implication of it on various participating countries.

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Upcoming Event

Apr
13
13:00

An alpine divide? Comparing economic cultures in Germany and Italy

A discussion of Italian and German macro-economic cultures and performances.

Speakers: Thomas Mayer, Patricia Mosser, Marianne Nessén, Hiroshi Nakaso, Francesco Papadia, André Sapir and Jean-Claude Trichet Topic: European Macroeconomics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels
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Upcoming Event

Apr
21
14:00

Living standards and financial resilience across Europe

What has the impact of the pandemic on households’ financial resilience been, and how should policy makers respond?

Speakers: Romina Boarini, Zsolt Darvas, Maria Demertzis and Daniel Tomlinson Topic: European Macroeconomics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels
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Upcoming Event

Apr
27
13:00

Pro-cyclical sovereign ratings: This time is different?

A discussion on European sovereigns ratings.

Speakers: Grégory Claeys and Judith Arnal Martínez Topic: European Macroeconomics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels
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External Publication

Wealth distribution and social mobility

This report explores the distribution of household wealth in the EU Member States and analyses the role of wealth in social mobility.

By: Zsolt Darvas and Catarina Midões Topic: European Macroeconomics & Governance Date: April 1, 2021
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Past Event

Past Event

The role of the ECB in stabilizing sovereign debt markets

What are the main lessons of ECB interventions in specific sovereign debt markets?

Topic: European Macroeconomics & Governance Date: April 1, 2021
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Working Paper

The unequal inequality impact of the COVID-19 pandemic

Less-educated workers have suffered most from job losses in the COVID-19 pandemic, and it is quite likely there was a significant increase in European Union income inequality in 2020.

By: Zsolt Darvas Topic: European Macroeconomics & Governance, Global Economics & Governance Date: March 30, 2021
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Opinion

Financial literacy and the fearless woman

Many gender gaps persist, but an important one that puts women in a very disadvantageous position is the gap in financial literacy.

By: Maria Demertzis Topic: European Macroeconomics & Governance Date: March 30, 2021
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Podcast

Podcast

Gender gap in financial literacy: a lack of knowledge or confidence?

“If women and girls are fearless, they will benefit by becoming more financially independent, more financially secure, more in control of their future and society will benefit.”

By: The Sound of Economics Topic: European Macroeconomics & Governance Date: March 24, 2021
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Opinion

Letter: ‘Strategic autonomy’ is now an EU catchphrase

Strategic autonomy should not be an illusionary search for independence, but rather a strategic management of interdependence, based on diversification of supply chains.

By: Simone Tagliapietra Topic: European Macroeconomics & Governance Date: March 24, 2021
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Blog Post

How has COVID-19 affected inflation measurement in the euro area?

COVID-19 has complicated inflation measurement. Policymakers need to take this into account and should look at alternative measures of inflation to understand what is actually happening in the economy.

By: Grégory Claeys and Lionel Guetta-Jeanrenaud Topic: European Macroeconomics & Governance Date: March 24, 2021
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Working Paper

Interest in European matters: a glass three-quarters full?

Everything that increases the interest of European citizens in the EU, independently of whether it has a critical or a supportive character, will serve to move the EU closer to its citizens.

By: Francesco Papadia, Enrico Bergamini, Emmanuel Mourlon-Druol and Giuseppe Porcaro Topic: European Macroeconomics & Governance Date: March 23, 2021
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Past Event

Past Event

The impact of COVID-19 on productivity: preliminary firm evidence

Online event organised in the framework of MICROPROD, a research project to improve our understanding of productivity, its drivers and the way we measure it.

Speakers: Carlo Altomonte, Agnès Bénassy-Quéré, Maria Demertzis, Filippo di Mauro and Steffen Müller Topic: European Macroeconomics & Governance Date: March 18, 2021
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