# Blog

Greece and the euro area need a deal within days, not months

International press informs us that the Greek government believes it has weeks or perhaps months to negotiate a new deal with its creditors. The basic idea of the new Greek finance minister Yanis Varoufakis is that Greec...

2nd February 2015 by Guntram Wolff 2661 views

# Blog

Why Grexit would not help Greece

The genie is out of the bottle: Europe is again discussing the possibility of Greece leaving the euro. With it, the debate has re-emerged whether this would be helpful or not for Greece and whether there would be contagi...

6th January 2015 by Guntram Wolff 2922 views

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# Publications

Eurosystem collateral policy and framework: Was it unduly changed?

All Eurosystem credit operations, including the important open market operations, need to be based on adequate collateral. Liquidity is provided to banks against collateral at market prices subject to a haircut. The Euro...

17th November 2014 by Guntram Wolff 7717 views

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# Publications

Addressing weak inflation: The European Central Bank’s shopping list

There are clear benefits to price stability. High inflation can distort corporate investment decisions and the consumption behaviour of households. Changes to inflation redistribute real wealth and income between differe...

6th May 2014 by Guntram Wolff 5143 views

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# Publications

The long haul: managing exit from financial assistance

Countries can make a clean exit from financial assistance, or enter a new programme or a precautionary programme, depending on the sustainability of their public debt and their vulnerability to shocks. Ireland mad...

20th February 2014 by Guntram Wolff 2477 views

# Interviews

An evaluation of the Troika’s programmes in the euro area

On Friday April 19th 2013, Bruegel fellows Jean Pisani-Ferry, André Sapir and Guntram Wolff presented a study evaluating the Troika’s recent programmes in the euro area. The presentation took place at the Peterson ...

22nd April 2013 by Guntram Wolff 2653 views

# Blog

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...

26th March 2013 by Guntram Wolff 2621 views