External speakers

Jeromin Zettelmeyer

Deputy director of the Strategy and Policy Review Department at the International Monetary Fund

Jeromin Zettelmeyer is deputy director of the Strategy and Policy Review Department at the International Monetary Fund, where his areas of responsibility include policies on sovereign debt, exchange rates, capital flows and trade. Previously he served as senior fellow at the Peterson Institute beginning in September 2016. From 2014 until September of 2016, he served as director-general for economic policy at the German Federal Ministry for Economic Affairs and Energy. Before joining the German government, Zettelmeyer was director of research and deputy chief economist at the European Bank for Reconstruction and Development (August 2008–March 2014), where he cowrote and edited the Transition Report and other EBRD flagship publications and contributed to the modernization of the EBRD’s development strategy. Prior to that, he was a staff member of the International Monetary Fund, where he worked in the Research, Western Hemisphere, and European II departments (1994–2008).

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Opinion

How worried should we be about an Italian debt crisis?

Political backlash to slow growth and immigration has produced the least cooperative government imaginable in Italy, a coalition between the left-populist Five Star Movement (M5S) and the right-populist Lega. And borrowing costs have started to rise in reaction. Does this mean that a crisis is imminent? If so, how bad would it be?

By: Silvia Merler, Olivier Blanchard, Jeromin Zettelmeyer and Bruegel Topic: Banking and capital markets Date: May 28, 2018
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External Publication

Reconciling risk sharing with market discipline: A constructive approach to euro area reform

This publication, written by a group of independent French and German economists, proposes six reforms which, if delivered as a package, would improve the Eurozone’s financial stability, political cohesion, and potential for delivering prosperity to its citizens, all while addressing the priorities and concerns of participating countries.

By: Agnès Bénassy-Quéré, Markus K. Brunnermeier, Henrik Enderlein, Emmanuel Farhi, Marcel Fratzscher, Clemens Fuest, Pierre-Olivier Gourinchas, Philippe Martin, Jean Pisani-Ferry, Hélène Rey, Isabel Schnabel, Nicolas Véron, Beatrice Weder di Mauro and Jeromin Zettelmeyer Topic: Macroeconomic policy Date: January 17, 2018
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Policy Contribution

A European perspective on overindebtedness

The sequence of crisis and policy responses after mid-2007 was a gradual recognition of the unsustainability of the euro-area policy framework. The bank-sovereign vicious circle was first observed in 2009 and became widely acknowledged in the course of 2011 and early 2012. The most impactful initiative has been the initiation of a banking union in mid-2012, but this remains incomplete and needs strengthening.

By: Nicolas Véron and Jeromin Zettelmeyer Topic: Macroeconomic policy Date: September 28, 2017
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Opinion

A resilient Euro needs Franco-German compromise

In a piece signed by 15 leading French and German economists, Nicolas Véron lays out a path to a more sustainable Euro. Germany will need to accept some form of risk sharing. France will need to allow more market discipline. But the two countries can find a common vision for reforms

By: Agnès Bénassy-Quéré, Markus K. Brunnermeier, Lars Feld, Philippe Martin, Hélène Rey, Isabel Schnabel, Nicolas Véron, Beatrice Weder di Mauro, Jeromin Zettelmeyer, Henrik Enderlein, Emmanuel Farhi, Clemens Fuest, Pierre-Olivier Gourinchas, Jean Pisani-Ferry and Marcel Fratzscher Topic: Macroeconomic policy Date: September 27, 2017