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...

In response to the financial crisis, the ECB has had to adopt new instruments to support the euro area economy and preserve the integrity of the single currency. This has challenged the current framework of the Monetary Dialogue exercise. This paper briefly assesses the implications of enhanced...

The theme of this contribution is how Europe will evolve over the next decade. The key message is that over this decade Europe will be busy digesting the 12 members that joined in 2004 and 2007. Digesting in the context means that the new members will only gradually be incorporated and...