Die Beschlüsse von Maastricht zur Einführung einer gemeinsamen europäischen Währung erzeugten unterschiedlichste Reaktionen in Öffentlichkeit und Wissenschaft: Während die einen von einer "Vision für Europa" sprachen, warnten andere vor einem "gefährlichen Irrweg". Auch heute noch...

Despite the experience of the ongoing sovereign debt crisis, European banks continue to hold large amounts of bonds from their home governments. This ties the fates of the sovereign and the banks together, leading to the disruptive self-reinforcing feedback loops that brought the euro area to...

At the height of the European sovereign debt crisis, the European Central Bank decided to purchase distressed European government bonds. Even worse, and more importantly, the ECB is providing direct support of several hundred billions of euros to troubled banks via its normal monetary policy...