European monetary union

European Union countries’ recovery and resilience plans

Digital Euro blurs the lines between money and politics

A central bank-backed digital currency would put the EU in the global vanguard when it comes to taking cash payments online.

Don’t look only to Brussels to increase the supply of safe assets in the European Union

A sufficient supply of safe assets denominated in euros is critical if the European Union is to achieve a full banking and capital markets union.

If it doesn’t trade, is it really marketable debt?

Europe’s bond markets are essential infrastructure, just like the power grid.

Central Bank digital currencies as weapons of finance?

An analysis on how CBDCs can be used in emerging economies to include more people in financial systems.

Do financial markets consider European common debt a safe asset?

The interest rate on European Union bonds is now almost as high as that of supposedly riskier Spanish bonds; this risks defeating their purpose.

Euro area monetary asset demand and Divisia aggregates

The ECB’s monetary tightening: a belated start under uncertainty

A paper assessing the ECB policy errors that occurred in the last year, and the appropriateness of the current monetary policy stance of the ECB.

Euro-dollar parity: beyond symbolism

Lack of certainty that the euro will stay prevents it from a greater international role. Until addressed, the dollar will continue to be hegemon.

Legal options for a green golden rule in the European Union’s fiscal framework

Three headaches for the European Central Bank

Once again, the limits of EMU architecture are visible and will require a rethink.

The Euro in 2022

An annual review of the euro published jointly by Fundación ICO and Fundación de Estudios Financieros to expand knowledge, raise awareness of the sing

A European climate fund or a green golden rule: not as different as they seem

Spending and borrowing via a non-redistributive EU climate fund or under a well-designed green golden rule would result in similar project implementat

The euro comes of age

A well-functioning euro reflects a degree of unity that allows the EU to credibly claim a position at the global table and therefore help shape the po