Euro area

Lessons for the European Central Bank from the 2021-2023 inflationary episode

This paper reflects on these developments ahead of the ECB’s 2025 monetary policy review

Greece's debt crisis: a decade of resilience

Ten years after: economic growth, political change and the path forward for Greece

Divisia monetary aggregates for the euro area

On the digital euro holding limits

The plan for a retail digital euro holding limit, combined with a ‘waterfall approach’ to smooth transactions, sets up an apparent clash of objectives

Divergent economic dynamics grind down the Franco-German EU axis

France must face up finally to its fiscal failings – and can no longer rely on German indulgence

EU savers need a single-market place to invest

Proposals to leverage the single market to boost retail investment could lead to a product citizens will trust

A tale of two treatises: the Werner and Delors Reports and the birth of the euro

Focusing on the Werner and Delors Reports, this essay aims to capture key ideas and debates, giving a chronological overview of the EMU process

Ten years of Europe’s banking union

How far along is Europe’s banking union, and what is next?

Ukraine’s future with the EU

What happens after the start of Ukraine's official accession talk?

The US and euro area must move faster on their digital currencies for wholesale purposes

The value added of central bank digital currencies: a view from the euro area

Central bank digital currencies do have added value, but this is not the same for every country.

Holdings limit will prove central to the digital euro’s future

The European Central Bank says its digital currency will not be a store of value, in contrast to global counterparts.

The EU Recovery and Resilience Facility falls short against performance-based funding standards

The rules and guidance underpinning EU economic recovery funds seek inputs and outputs, not results; this has led to uneven use of results indicators

Quantitative tightening in the euro area

Why has the ECB decided to implement this policy?

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.