BRUEGEL

9 May 2016 marks yet another extraordinary meeting for the Eurogroup. The agenda includes discussing the status of the third financial assistance programme to Greece and the sustainability of...

Where Is The Chinese Banking Sector Coming From?China’s banking system was deemed monolithic, with the central bank People’s Bank of China (PBoC) as the major entity authorized to conduct...

Japan is once again defying common economic sense. While its unemployment rate is at the lowest level in almost two decades, wage growth has been disappointing, and the government is even putting...

The eurozone remains in a deep, largely macro-economic crisis. A robust global economy and falling oil prices have supported Europe’s economy for some time, but by now it is clear that the...

By February 2016, the price of oil had fallen to about 30 USD —from about 100 USD per barrel in 2014. There are three possible causes: real changes in supply, real changes in demand and changes...

The ECB is taking bold action to achieve its inflation target, but its policies are beginning to look desperate. The euro area and the ECB are suffering from the same problem: fiscal and structural...

The ECB first announced its targeted long-term refinancing operations (TLTRO) in summer 2014, and operations started in September 2014. Under the first version of the programme, countries could borrow...

The President of the ECB Mario Draghi has been clear, both at the last press conference and in front of the European Parliament on February 15, that the ECB is determined to achieve its price...