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Is the COVID-19 crisis an opportunity to boost the euro as global currency?

Claeys, Gregory; Wolff, Guntram B. - Brussels European and Global Economic Laboratory - 2020

The euro became an international currency when it was created two decades ago. However, the euro's internationalisation peaked as early as 2005 and it was never comparable to the US dollar. Its international status declined with the euro crisis. Faced with a US administration willing to use its...

Persistent link: https://www.econbiz.de/10012255506

What impact does the ECB's quantitative easing policy have on bank profitability?

Demertzis, Maria; Wolff, Guntram B. - 2016

Quantitative easing (QE) affects banks’ profitability in three main ways. First, as QE drives up bond prices, banks holding such bonds see their balance sheets strengthened. Second, QE reduces long-term yields and thereby reduces term spreads. With this, the lending-deposit ratio spread falls,...

Persistent link: https://www.econbiz.de/10011584166

Redefining Europe's economic sovereignty

Leonard, Mark; Pisani-Ferry, Jean; Ribakova, Elina; … - 2019

to boost Europe’s research and scientific base, protect assets critical to national security from foreign interference … to integrate economic and security considerations within the European Commission. But the answer to this problem does not …

Persistent link: https://www.econbiz.de/10012025345

Promoting sustainable and inclusive growth and convergence in the European Union

Demertzis, Maria; Sapir, André; Wolff, Guntram B. - 2019

The European Union can look ahead at the next five years from a good economic position. Employment is comparatively high, the recovery has been uninterrupted for several years and income inequality remains less pronounced than elsewhere in the world. But the EU faces nevertheless formidable...

Persistent link: https://www.econbiz.de/10012025374

The European Union’s response to the trade crisis

Dadush, Uri; Wolff, Guntram B. - 2019

The global trading system, a source of prosperity, is under attack on various fronts. The causes run deep and require a strategic response from the European Union and from the main trading nations. The future of the system hinges on the answer to three questions, and the scenarios associated...

Persistent link: https://www.econbiz.de/10012025387

Is the European Semester effective and useful?

Efstathiou, Konstantinos; Wolff, Guntram B. - 2018

We study whether and to what extent EU countries implement recommendations on macroeconomic imbalances given by the EU in the so-called European Semester. We assess how recommendations have evolved since 2013, based on a new database. We also study how EU recommendations on addressing...

Persistent link: https://www.econbiz.de/10011884853

Making a reality of Europe's Capital Markets Union

Sapir, André; Véron, Nicolas; Wolff, Guntram B. - 2018

The deepening and integration of the European Union’s capital markets is a long-term structural endeavour. Although difficult to achieve, it is worthwhile for several reasons: a meaningful body of economic analysis strongly suggests that purely bank-based financial systems are more prone to...

Persistent link: https://www.econbiz.de/10011884862

Hybrid and cybersecurity threats and the European Union's financial system

Demertzis, Maria; Wolff, Guntram B. - 2019

Increasing cyber and hybrid risks will test the European Union’s system of fragmentation on issues of security but … centralisation on financial and other economic issues. This asymmetry was not an obstacle in a world in which security threats were … broader political discussion on the integration of the EU security architecture applicable to the financial system. This …

Persistent link: https://www.econbiz.de/10012140010

An effective economic response to the coronavirus in Europe

Demertzis, Maria; Sapir, André; Tagliapietra, Simone; … - 2020

recommend all European Union countries agree to halve companies’ social security contributions for three months, or cut the …

Persistent link: https://www.econbiz.de/10012200610

From climate change to cyber-attacks: incipient financial-stability risks for the euro area

Darvas, Zsolt M.; Domínguez-Jiménez, Marta; Wolff, … - 2020

The European Central Bank’s November 2019 Financial Stability Review highlighted the risks to growth in an environment of global uncertainty. It also discusses sovereign-debt concerns in case interest rates increase, and risks arising from household and corporate debt. It assesses the risks...

Persistent link: https://www.econbiz.de/10012200629