Comment
28 May 2018
How worried should we be about an Italian debt crisis?
Political backlash to slow growth and immigration has produced the least cooperative government imaginable in Italy, a coalition between the left-popu
Public debt
Showing 33-48 of 88 results
Blog post
28 May 2018
Are SBBS really the safe asset the euro area is looking for?
The European Commission is pushing to create a synthetic euro-area-wide safe asset in the form of sovereign bond-backed securities (SBBS). However, SB
Blog post
22 May 2018
Argentina’s troubles
Argentina has abruptly called on the International Monetary Fund for financial help, amid currency pressures. We review recent economists’ position on
Blog post
04 May 2018
Europe needs a broader discussion of its future
When thinking about what will determine the prosperity and well-being of citizens living in the euro area, five issues are central. This column, part
Blog post
26 April 2018
Italy’s pension spending: Implications of an ageing population
The Italian debate on the pension system predominantly focuses on short-term aspects, neglecting relevant longer-term fundamentals. Based on long-term
Working paper
26 April 2018
State contingent debt as insurance for euro-area sovereigns
Since the financial crisis, EU countries' economies have recovered to the point that they are exiting their adjustment programmes. Institutional stabi
Comment
19 April 2018
Building a stable european deposit insurance scheme
Deposit insurance, like any insurance scheme, raises moral hazard concerns. Such concerns arising from European deposit insurance can be alleviated th
Blog post
28 February 2018
Clouds are forming over Italy’s elections
While the prospect of a gridlock reassured investors about the short-term risk of an anti-establishment government, Italy still needs a profound econo
Policy brief
18 January 2018
Risk reduction through Europe’s distressed debt market
The resolution of non-performing loans (NPLs), a stock of roughly €870 billion in the EU banking industry, is central to the recovery of Europe’s bank
Report
17 January 2018
Reconciling risk sharing with market discipline: A constructive approach to euro area reform
This publication, written by a group of independent French and German economists, proposes six reforms which, if delivered as a package, would improv
Blog post
07 December 2017
Sovereign Concentration Charges are the Key to Completing Europe’s Banking Union
The past crisis revealed that most euro-area banks have disproportionate sovereign exposure in their home country. Charging banks for sovereign concen
Policy brief
28 September 2017
A European perspective on overindebtedness
The sequence of crisis and policy responses after mid-2007 was a gradual recognition of the unsustainability of the euro-area policy framework. The ba
Event
19 June 2017
Sovereign exposure limits
On 19th June, we are hosting an invitation-only workshop on sovereign exposure limits.
Comment
22 May 2017
Debt relief or a fourth financial assistance programme for Greece?
The Eurogroup faces a difficult choice on Greece — implementing a debt reduction plan drastic enough to make a return to market borrowing possible, or
Event
12 April 2017
Global outlook and policy priorities
At this event the Managing Director of the International Monetary Fund, Christine Lagarde, will speak about the global outlook and policy priorities,
Blog post
28 March 2017
A call for uniform sovereign exposure limits
Banks’ sovereign bond holdings were at the heart of the euro-sovereign crisis. The concentration of domestic bonds created a vicious cycle between gov