Negotiating the End of Brexit

Aug 25, 2020

It is increasingly likely that, unless things change, on January 1, 2021, we will have a no-deal Brexit. That would mean the only deal between the European Union and the United Kingdom would be the already ratified EU withdrawal agreement of 2019. There are only around 50 working days left in...

The CO2 Border Adjustment for the EU
Aug 06, 2020

The CO2 Border Adjustment for the EU

Is Europe More United Than the US?
Aug 04, 2020

Is Europe More United Than the US?

COVID-19 and Populism: A Bad Combination for Europe’s Banks
Jul 13, 2020

COVID-19 and Populism: A Bad Combination for Europe’s Banks

The Wirecard Debacle Calls for a Rethink

The Wirecard Debacle Calls for a Rethink

Jul 01, 2020

Wirecard AG, the Munich-based payments and financial services company that was a member of the DAX index of Germany’s 30 leading blue-chip stocks, collapsed spectacularly and filed for insolvency on June 25. Among many lessons, this disaster has revealed major gaps in audit...

The Challenges Facing the Eurozone

The Challenges Facing the Eurozone

Jun 01, 2020

The current public health crisis has become a major challenge for European economies. It particularly affects countries in the southern part of the eurozone, as they are still suffering from the effects of the euro debt crisis of 2009-12. In the absence of a convincing fiscal policy response from...

Europe’s Moment of Truth Is Obviously About Debt

Europe’s Moment of Truth Is Obviously About Debt

May 29, 2020

Since 2016, the year the British voted to leave the European Union and the US elected trade-war baron Donald Trump, Europe has had its share of political and economic storms. The EU’s lack of unity and coherence and its fragility as a geopolitical institution have never been more obvious. The...

Central Europe Tiptoes Into the New World After Coronavirus

Central Europe Tiptoes Into the New World After Coronavirus

May 21, 2020

Classic textbooks teach us that economic shocks typically hit either the demand or the supply sides of the economy. They usually stem from domestic developments, but sometimes they emerge from abroad. COVID-19, the disease caused by the novel coronavirus, has...

Banking Regulation in the Euro Area: Germany Is Different

Banking Regulation in the Euro Area: Germany Is Different

May 13, 2020

Two reports published in early 2020 shed new light on this challenge. The European Central Bank’s (ECB) risk report on less-significant institutions is the first of what is intended to be an annual series. The impact assessment study on the most important differences between...

How the European Union Lost Italy to the Radical Right

How the European Union Lost Italy to the Radical Right

Apr 16, 2020

In no country in Europe has COVID-19 claimed more victims than in Italy. Similarly, nowhere in Europe has the radical populist right benefitted more from the pandemic than in Italy. At the beginning of April, polls had Italy’s two major radical right-wing populist parties — Matteo Salvini’s...

Banks in Pandemic Turmoil

Banks in Pandemic Turmoil

Apr 13, 2020

As the COVID-19 pandemic and policy reactions have disrupted markets, bankers on both sides of the Atlantic have called for the relaxation of accounting standards introduced in the wake of the 2007-08 global financial crisis. This set of standards is known as expected credit loss...

Will the EU Survive the Coronavirus?

Will the EU Survive the Coronavirus?

Apr 10, 2020

The most insidious tactic of COVID-19 is to get a person’s body to attack itself. In the worst cases, the body’s autoimmune system essentially goes haywire as it tries to fight off infection. This “cytokine storm” can lead to serious inflammation in the lungs and ultimately to...

Looking for a New Chapter in Central Eastern Europe

Looking for a New Chapter in Central Eastern Europe

Apr 02, 2020

Central Eastern Europe (CEE) has been hit by the novel coronavirus — which causes a disease called COVID-19 — at a time when upgrades to its industry are overdue, the cost of labor has gone up, the tailwinds from EU funding are about to wane, and the region is in desperate...

Europe’s Radical Right Can Help Johnson Get Momentum on Brexit Deal

Europe’s Radical Right Can Help Johnson Get Momentum on Brexit Deal

Mar 04, 2020

This week, the delegations of the European Union and the United Kingdom started the institutional meetings concerning the Brexit deal negotiations. The transition period during which the two sides may possibly find an agreement on a variety of issues — almost everything from trade to...

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