La corsa può durare per tutto il 2022 adesso la Bce deve dare un segnale
interview in La Stampa...
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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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Post-Council commentary
On April 23, EU leaders met virtually to try to come to an agreement for a common European response to the COVID-19 pandemic. What were the measures taken? Will they be sufficient? Did Europe come together for a coordina...
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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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A European approach to fund the coronavirus cost is in the interest of all
This opinion piece was originally published in El País and Corriere della Sera. To reduce the economic fallout from the coronavirus crisis, massive fiscal support will be needed. Without sufficient support, GDP will fall...
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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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How has the macroeconomic imbalances procedure worked in practice to improve the resilience of the euro area?
This paper shows how the Macroeconomic Imbalances Procedure (MIP) could be streamlined and its underlying conceptual framework clarified. Implementation of the country-specific recommendations is low; their internal cons...
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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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Why Europe needs a change of mind-set to fend off the risks of recession
Versions of this opinion piece are appearing in Handelsblatt, Le Monde, El Pais, Kathimerini, Rzeczpospolita, Helsinki Sanomat, Caixin, Nikkei Veritas and others. Recession! This is the new worry in Europe and the...
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The ECB actions will be enough, but what matters now is the common fiscal policy
My interview in La Stampa is here...
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