Commentary
Bruegel's shorter research output including First glance pieces, external opinion pieces and testimonies.
Recent commentary
Fast and furious: how digital bank runs challenge the banking-crisis rulebook
The speed of recent bank failures has shown the need for more systemic protection of the financial system.
The unbecoming rivalry at the heart of the EU
A battle of egos between Ursula von der Leyen and Charles Michel is putting the EU’s post-pandemic solidarity at risk.
Banking turbulence is not a reason to pause monetary tightening
Despite calls for interest rate hikes to be paused, both the ECB and Federal raised rates- which was the right decision.
Comment
14 April 2014
Appreciate the yuan depreciation
Since the beginning of this year, the renminbi has been depreciating against the US dollar. That marked a departure from the earlier trend of the Chin
Comment
13 March 2014
Managing 50 years of Troika debt repayments
Europe faces a delicate long-term balancing act to reconcile the interests of creditors and debtors. History will reward generosity.
Comment
07 March 2014
Tectonic shifts
Europe has just started a long journey of discovery. Banking union amounts to a regime change for European finance. Even as prospects for the first st
Comment
13 February 2014
The ECB is much too stodgy
The euro fuelled a leveraged bet that went bad. The ECB is best positioned to orchestrate the painful sharing of losses. If the ECB does not reinvent
Comment
13 February 2014
Taking the mandate of the ECB seriously
The ECB must achieve price stability in the euro area and contribute to the general economic objectives of the Union, if its price stability mandate a
Comment
13 February 2014
The ECB’s bridge too far
The line between audacity and hubris is a fine one. Rather than constituting a great success, OMT may well be remembered as an error born of expedienc
Comment
13 February 2014
France and Germany must both change economic strategy
A more balanced economic strategy in the two countries is crucial to help the peripheral countries solve their own predicaments and ensure the sustain
Comment
24 January 2014
Un grand pas pour l'Europe, mais le déficit démocratique demeure
Le 18 décembre, les ministres des finances européens ont annoncé un accord sur la mise en place d'un mécanisme de résolution unique (MRU) pour le trai
Comment
17 January 2014
2014 Financial Odyssey
The European Banking Union matures in 2014, with the ECB assuming its role as single supervisor. This column outlines the transition to the new steady
Comment
14 January 2014
Let’s not wait for a saviour
As a despondent year ends, there appear rays of hope. A healing world economy should help economic growth pick up. At home, a new Central government c
Comment
13 January 2014
The ghost of Deauville
On 19 October 2010, Angela Merkel and Nicolas Sarkozy agreed that in future, sovereign bailouts from the European Stability Mechanism would require th
Comment
13 January 2014
Europe’s Institutional Mismatches Will Create More Turbulence in 2014 than in 2013
2013 has been a remarkably calm year in Europe, arguably the calmest since the onset of financial crisis in 2007.
Comment
10 January 2014
Monetary policy cannot solve secular stagnation
What role can quantitative easing play? I am not quite as negative on QE as Olivier Blanchard but certainly agree that it cannot fundamentally solve t
Comment
08 January 2014
Die Nachbarländer in die Energiewende einbinden
Wenn die europäische Dimension der Energiewende nicht im Koalitionsvertrag berücksichtigt wird, wird Deutschland mit einer nur am Ausgleich einheimisc
Comment
08 January 2014
The ECB’s big moment
Europe’s banking union project has had many doubters since it started to be widely discussed in the spring of 2012. What is not in doubt, however, is
Comment
20 November 2013
A Schuman compact for the euro area
Five years of crisis have pushed Europe to take emergency financial measures to cushion the free fall of distressed countries. However, efforts to tur