The so called ‘capital key’ used by the European Central Bank is due to be reviewed. Sebastian Diessner explains that while in the past this has been viewed as a largely technical process, this time around the issue will have heightened political significance for two reasons in particular: the UK’s upcoming departure from the EU, and the current stand-off […]
The European Central Bank was established 20 years ago today on 1 June 1998. To mark the anniversary, we asked five academics to give their views on the lessons learned from two decades of the ECB, and their predictions on what might lie in store for both the ECB and the euro over the next 20 years.
Paul De […]
The macroeconomic consensus underpinning EMU is shifting. Could it pave the way for a completion of the Eurozone?
The Eurozone crisis prompted many observers to conclude that the Eurozone requires a banking and fiscal union to be considered ‘complete’. But realising these aims remains politically difficult and it is far from clear how agreement can be reached on the way forward. Sebastian Diessner argues that 2017 saw the first signs of a potential consensus emerging based on the […]
Earlier this year, the European Central Bank agreed to release minutes of its governing council meetings in response to criticism over the lack of transparency in its decision-making. Sebastian Diessner writes that while there are good reasons to support the ECB becoming more transparent, lessons should also be learned from the experiences of other central banks. He notes that […]