Read article Download PDF More on this topic
 

Policy Contribution

An analysis of central bank decision-making

An earlier version of this paper was presented at ‘The MPC at 25’, a conference organised by the United Kingdom’s National Institute of Economic and Social Research, in London, 30 March 2022 The process by which central banks take decisions has evolved over the years, with a tendency towards independence and decisions taken by committees […]

By: Maria Demertzis, Catarina Martins and Nicola Viegi Topic: Banking and capital markets Date: July 11, 2022
Read article Download PDF More on this topic
 

Policy Contribution

How can the European Union adapt to climate change?

A stronger adaptation governance framework would benefit adaptation efforts.

By: Klaas Lenaerts, Simone Tagliapietra and Guntram B. Wolff Topic: Green economy Date: June 28, 2022
Read article More by this author
 

Blog Post

European governance

Discretion lets Croatia in but leaves Bulgaria out of the euro area in 2023

Crucial decisions about whether a country can join the euro area depend on questionable discretionary decisions.

By: Zsolt Darvas Topic: European governance, Macroeconomic policy Date: June 22, 2022
Read about event More on this topic
 

Past Event

Past Event

EU enlargement in a new light

What would increase government support around EU enlargement, and what role could membership play in future peace talks?

Speakers: Tinatin Akhvlediani, Elise Bernard, Jiffer Bourguignon, Marek Dabrowski, Maria Demertzis, André Sapir and Ilona Sologoub Topic: European governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: June 21, 2022
Read article More on this topic
 

Blog Post

A new European tool to deal with unjustified rising spreads

The European Central Bank needs a new tool to prevent the current rise in spreads, triggered by monetary policy tightening, from escalating into a new euro-area crisis.

By: Grégory Claeys and Maria Demertzis Topic: Banking and capital markets Date: June 20, 2022
Read article More by this author
 

Opinion

European governance

Ukraine and what it means for European Union enlargement

The real issue for EU leaders when they discuss Ukraine’s application at a 23-24 June summit and beyond, is what kind of club the EU should be.

By: Maria Demertzis Topic: European governance, Global economy and trade Date: June 16, 2022
Read about event More on this topic
 

Past Event

Past Event

War in Ukraine: Ukraine's place in the EU

In the latest installment of the Sound of Economics Live we debate whether Ukraine's accession to the EU should be facilitated.

Speakers: Alexander Duleba, Ľubica Karvašová, André Sapir and Guntram B. Wolff Topic: European governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: June 14, 2022
Read about event More on this topic
 

Past Event

Past Event

Through crises towards stability: Reflections on 10 years of the ESM with Klaus Regling

How is the European Stability Mechanism responding to crises, and what will the future of the ESM look like?

Speakers: Klaus Regling and Guntram B. Wolff Topic: European governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: June 9, 2022
Read article Download PDF
 

External Publication

European governanceEuropean Parliament

Fragmentation risk in the euro area: no easy way out for the European Central Bank

The ECB should design a specific tool that will accompany interest rate hikes to neutralise the risk of fragmentation directly for countries facing it, staying within the bounds of the EU treaties and ensuring political legitimacy. We also advocate structural changes to the ECB’s collateral framework to avoid unnecessary uncertainty surrounding the safe asset status of European sovereign bonds.

By: Maria Demertzis, Grégory Claeys and Lionel Guetta-Jeanrenaud Topic: European governance, European Parliament, Testimonies Date: June 8, 2022
Read article More by this author
 

Opinion

European governance

Three headaches for the European Central Bank

Even though inflation in the euro area is lower than in the US, three issues make it a lot more difficult for the ECB to control inflation and preserve financial stability. Once again, the limits of EMU architecture are visible and will require a rethink.

By: Maria Demertzis Topic: European governance, Macroeconomic policy Date: May 31, 2022
Read article More on this topic More by this author
 

Podcast

Podcast

Taming inflation?

What are the implications of prolonged inflation?

By: The Sound of Economics Topic: Macroeconomic policy Date: May 25, 2022
Read article More on this topic More by this author
 

Blog Post

REPowerEU: will EU countries really make it work?

By acting together, the European Union can optimise its response to the energy crisis in all scenarios but each country will have to make concessions.

By: Simone Tagliapietra Topic: Green economy Date: May 18, 2022