Central banks pay interest on commercial banks’ holdings of cash reserves at the central bank. Thus, recent rate increases imply larger interest payments to commercial banks and loss of revenue for national governments. Paul De […]
The coronavirus crisis compared with two other major global crises: the Great Depression in the 1930s and the Great Recession after 2008. This time government responses and stronger banks have led to a swifter rebound. […]
Eurozone finance ministers reached a preliminary agreement on a reform of the European Stability Mechanism in June, but failed to conclude it last week. The reform is now set to be discussed during the European […]
New budgetary rules imposed by the European Commission prevent the costs of public investment from being spread over time, obliging governments to impose 100% of the costs of envinronmental investments on today’s households and firms. Paul De Grauwe […]
The conflict between the Italian government and the European Commission on the proposed budget is intensifying. In this post, Paul De Grauwe argues that it is time to think again about the budgetary rules that […]
If you can get through it, there are some interesting points made. Read here
Copyright © 2024 | MH Magazine WordPress Theme by MH Themes
