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...

The Greek government budget situation plays a central role in the debt crisis in the euro area. Strong consolidation measures need to be implemented, with potential adverse effects on the Greek economy and further credit requirements. Debt conversion might therefore become a reasonable...

The recent announcement of the French Government's decision to support the French agriculture this spring by direct income transfers to the tune of ffr 4.6 bn brings home the fact that some national governments need national autonomy in agricultural policy. Regrettably it seems to foreshadow an...

Much criticism notwithstanding, the essentials of the common agricultural policy have up to now scarcely been changed. What kind of basic changes would have to be introduced for a new agricultural policy to become also politically acceptable? The following article suggests alternatives to the...