# Blog

Still vulnerable: the euro area’s small and medium-sized banks

In our recent research we show that the small and medium-sized banks (SMBs) – and among them the unlisted banks – remain under considerable stress. This op-ed was originally published on VOXEU. The European Centra...

14th August 2015 by Guntram Wolff 2233 views

# Blog

Griechenland: Die Lehren für Europa

This piece was first published on Die Zeit on August 4 2015. It was also published on Linkiesta, and several other newspapers. The English version is published on Bruegel. Die schlimmste Hängepartie ist vorläufig ...

10th August 2015 by Guntram Wolff 2292 views

# Blog

Griechenlands Schuldenlast kann und muss im Euroraum erleichtert werden

This article was first published on FAZ on 23 July 2015. It is also published on Kathimerini, Il Sole 24 and an English translation on Bruegel.org. Der wohl größte Schaden der Konfrontation mit Griechenland ist ein allge...

23rd July 2015 by Guntram Wolff 2419 views

# Interviews

My reaction to the Greek deal on France24

I was interviewed by France 24 on the deal reached at the European Council. My interview in English can be watched here, in French here....

20th July 2015 by Guntram Wolff 2097 views

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# Publications

The Vulnerability of Europe’s Small and Medium-Sized Banks

We study the vulnerability of 130 banks directly supervised by the European Central Bank’s Single Supervisory Mechanism. Illustrative stress tests using banks’ balance sheet data reveal that significant stress prevails i...

16th July 2015 by Guntram Wolff 3029 views

# Blog

Olivier Blanchard fails to recognise two major IMF mistakes in Greece

– the IMF needs to draw the right conclusions This blog draws two lessons from the failed Greek programme. Olivier Blanchard is right that the fiscal adjustment of the last 5 years was unavoidable. An earlie...

14th July 2015 by Guntram Wolff 3190 views

# Blog

#Greferendum: 3 questions, 3 answers

Q. What does the clear no in the referendum mean? GW. First of all, it is a rejection of the creditors offer that was on the table one week ago. We will see new discussions now. However, it will not be easy to come to su...

5th July 2015 by Guntram Wolff 2486 views

# Blog

Economic and legal observations on capital controls

While the exact decision of the Greek government is not yet to my knowledge clearly communicated, it appears that besides a bank holiday, the government intends to impose capital controls. The Guardian reports that for c...

28th June 2015 by Guntram Wolff 2791 views

# Blog

Euro area governance: an assessment of the “five presidents” report

the positive and missing or negative elements: European Commission President Juncker has published the long-awaited report prepared in collaboration with the presidents of the European Council, the Eurogroup, the Europea...

25th June 2015 by Guntram Wolff 2615 views

# Interviews

A Greek deal?

My interview on Euronews on youtube....

24th June 2015 by Guntram Wolff 2058 views