# Blog

The OMT programme was justified but the fiscal union question remains

I concur with Mody’s overall conclusion that the monetary union, even with the OMT programme, is incomplete and the issue of fiscal union remains unresolved. To permanently stabilise monetary union, the EU will nee...

Addressing weak inflation: The ECB’s shopping list

In this blogpost, we summarize our recently published paper, in which we discuss in detail the dilemmas for the ECB and the need to act. Inflation forecasts by the ECB have fallen substantially below the two percent thre...

Capital controls will put the euro at risk

The currency in Nicosia will no longer be worth the same as it is in any other country, says Guntram Wolff. Cypriot lawmakers have passed a bill that paves the way for capital controls. The legislation allows Cyprus’s go...