# Blog

Draghi enteignet die Sparer nicht

This text was published in Manager Magazin. Debatte über die EZB ja – aber bitte sachlich Die EZB reagiert mit ihrer Geldpolitik nur auf die schwache wirtschaftliche Lage. Sie ist nicht dafür zuständig, für hohe R...

28th September 2016 by Guntram Wolff 13 views

# Blog

The Continental Partnership proposal: a reply to five main criticisms

The proposal for a Continental Partnership (CP) has received a great deal of attention. Two of the authors, André Sapir and Guntram Wolff, clarify some misunderstandings and respond to five key criticisms. They argue tha...

27th September 2016 by André Sapir, Guntram B. Wolff 13 views

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# Publications

What are the prerequisites for a euro-area fiscal capacity?

This paper is a background note for a presentation at the Informal ECOFIN meeting of EU finance ministers and central bank governors in Bratislava on September 9, 2016. policy contribution, summary sent to ministers, spe...

12th September 2016 by Maria Demertzis, Guntram B. Wolff 126 views

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# Publications

Europe after Brexit: A proposal for a continental partnership

After the British decision to leave the EU, Europe’s trajectory, even its destiny, has again become a matter of choice. In an increasingly volatile world, neither the EU nor the UK have an interest in a divorce that dimi...

29th August 2016 by Jean Pisani-Ferry, Norbert Röttgen, André Sapir, Paul Tucker, Guntram B. Wolff 279 views

# Blog

The difficulties of defining EU-UK economic relations

This op-ed was originally published in El Economista, Manager Magazin, Nikkei Veritas, Nikkei Asian Review, and O Globo. Negotiations on the UK’s exit from the EU have not yet begun, but the UK leadership needs to ...

22nd July 2016 by Guntram Wolff 143 views

# Blog

Markets and broken promises in the UK referendum

After four days of violent market reactions to the prospects of Brexit, markets have paused and gained in strength slightly. Why has that happened? In the wake of the referendum result of June 23, financial market...

29th June 2016 by Guntram Wolff 294 views

# Blog

Six lessons about “real” people, Brexit, and the EU

The result of the UK referendum on 23 June has been portrayed as a victory for “real people”. But what consequences will the result have, and how should the UK and EU now react? “…this will be a victor...

27th June 2016 by Guntram Wolff 248 views

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# Publications

The effectiveness of the European Central Bank’s Asset Purchase Programme

Since the end of 2014, inflation has been at or very close to zero. With very little ability to move the actual interest rate further into negative territory, the ECB has resorted to unconventional measures. The latest o...

23rd June 2016 by Maria Demertzis, Guntram B. Wolff 248 views

# Blog

Berlin and Paris need a strategy for Brexit

Which political strategy should the EU and its biggest two members, France and Germany, pursue if the UK were to leave? This op-ed was originally published in Bruegel, International Business Times, Kathimerini, and Diari...

4th June 2016 by Guntram Wolff 253 views

# Blog

The three dangers of Brexit

This op-ed was originally published in Bruegel, Nikkei, Nikkei Asian Review, Manager Magazin, Finance, Sina and Naftemporiki. It will also appear in Gazeta Prawna, Público and Hospodarske Noviny. As the June 23 U.K. ref...

30th May 2016 by Guntram Wolff 242 views