European monetary union

The known unknowns and the unknown unknowns of the EMU

Extensive prior research on the economics of European monetary union highlighted some potential risks (the known unknowns) but overlooked others (the

The fiscal implications of a banking union

Systemic banking crises are a threat to all countries whatever their development level. They can entail major fiscal costs that can undermine the sus

The messy rebuilding of Europe

The euro crisis and subsequent policy responses have challenged the assumptions underpinning the euro-area's governance, and the relationship bet

Not all financial regulation is global

Financial regulation at global level has been high on the G20 agenda. However, financial multipolarity, with the rise of emerging economies, and its i

A European Exit Strategy

Globalisation and the reform of European social models