The German Council of Economic Experts (GCEE) has the legal mandate to independently assess the state of the German economy, to formulate its expert opinion regarding issues of economic policy and to alert readers to any undesirable developments which threaten to arise in this context. While...

The euro area is experiencing a severe and highly complex crisis. It comprises three problem areas, the difficulties of some highly indebted European sovereigns to ascertain funding at palatable cost, the disconcerting fragility of the European banking system and disappointing growth prospects...

The intensity of the Euro-crisis was reflected by significant increases of sovereign bond yields in the troubled countries. This has launched a hot debate whether this increase can solely be attributed to fundamental factors like e.g. rescue programmes, rising budget deficits, deteriorating...

The European Banking Union is a major step forward in fixing major deficiencies in the institutional framework of the Euro area. The absence of effective banking supervision and resolution powers at the European level promoted excessive private risk-taking in the up-run to the Euro crisis....

The intensity of the Euro-crisis was reflected by significant increases of sovereign bond yields in the troubled countries. This has launched a hot debate whether this increase can solely be attributed to fundamental factors like e.g. rescue programmes, rising budget deficits, deteriorating...

In der Wirtschaftskrise der Jahre 2008 und 2009 hat die Inanspruchnahme der großzügigen Kurzarbeiterregelung, die Ausweitung der innerbetrieblichen Flexibilität durch tarifvertragliche Regelungen sowie der Abbau von Guthaben auf den Arbeitszeitkonten die Beschäftigung in Deutschland...

The intensity of the euro crisis has been reflected in significant increases in sovereign bond yields in the most troubled countries. This has triggered a debate over whether this increase can be attributed solely to fundamental factors or whether part of the increase represents redenomination...