EU debt as insurance against catastrophic events in the euro area: the key questions and some answers
European Union debt can provide comprehensive insurance against the COVID-19 pandemic and can enable a macroeconomic response, even though EU debt is a liability for taxpayers in EU countries and therefore indirectly for...
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Did the eurogroup save the day?
After its longest meeting ever, the Eurogroup reached an agreement yesterday evening. What does the agreement say? What does it mean in terms of the emergency reaction to the economic fallout of the COVID-19 pandemic? Wh...
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Disease, like poverty, does not stay at home
This opinion piece was originally published in Abidjanpress, ApaNews, Barlamane, Corriere della Sera, Daily Maverick, Journal de Conakry, Libération,Teranga News and Süddeutsche Zeitung. Covid-19 should change global pol...
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The macroeconomic policy response to the COVID-19 crisis
From the European Stability Mechanism (ESM) to “coronabonds”, the EU seems to be struggling to find an appropriate mechanism to tackle the economic crisis created by the COVID-19 pandemic. What is really the ...
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Banks and loan losses in the pandemic turmoil
The current pandemic is shaking the financial system. How can banks react ? Is a consolidation of the financial system in Europe needed in order to respond to this crisis ? Will our economies suffer from this pandemic as...
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Europe needs a Covid-19 Recovery Programme
Our letter to the FT. The COVID-19 pandemic represents an unprecedented challenge for Europe’s healthcare systems, and a major shock for the continent’s economy. After the initial focus on the immediate crisis response m...
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From health crisis to economic crisis and now euro area crisis?
my conversation with Jean Pisani-Ferry and Maria Demertzis...
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A letter to Santa, the G7
This opinion piece was originally published in El País. Since the coronavirus outbreak became a pandemic, markets have plummeted. Global risk aversion has spiked, safe assets have becoming hugely expensive and the dollar...
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An effective economic response to the Coronavirus in Europe
The COVID-19 pandemic represents a major shock to the global and European economy. Most European countries need to take bold quarantine and lock-down measures, as has been done in Italy, to prevent an explosion of the ep...
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