Financial markets vs Brussels: What is the best anchor for policies?
Lorenzo Codogno argues that the economic and financial crisis that started more than ten years ago was not only devastating for the Italian economy, but also jeopardised a key mechanism for achieving political consensus. Brussels’ role as an external anchor for economic policies that are in the common interest but are socially and politically difficult to accept and implement […]
The fiscal stimulus that is not: Why there is no fiscal expansion in sight for the Eurozone
The fiscal stimulus that is not: Why there is no fiscal expansion in sight for the Eurozone
Euroland or Neverland? Lorenzo Codogno argues that constrained monetary policy calls for a greater role for fiscal policy in supporting the Eurozone economy, as former ECB President Mario Draghi recently suggested. Yet of the three potential routes that could be taken in this regard, none seem destined to be implemented. Leaving aside structural issues, which may well prolong current […]