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Divergent economic dynamics grind down the Franco-German EU axis

France must face up finally to its fiscal failings – and can no longer rely on German indulgence

The Euro at 25: Fit for purpose?

Ten years of Europe’s banking union

How far along is Europe’s banking union, and what is next?

Doing ‘whatever it takes’ to save the banks

Fast and furious: how digital bank runs challenge the banking-crisis rulebook

The speed of recent bank failures has shown the need for more systemic protection of the financial system.

If it doesn’t trade, is it really marketable debt?

Europe’s bond markets are essential infrastructure, just like the power grid.

Completing Europe’s banking union: economic requirements and legal conditions

This contribution analyses the deficiencies of the current framework and identifies possible responses, in line with three levels of reform ambition.

Learning from the European Central Bank's policy mistakes

While mistakes unduly constrained rate hikes, gradual tightening is the right approach along with a new instrument to address energy bottlenecks.

The euro comes of age

A well-functioning euro reflects a degree of unity that allows the EU to credibly claim a position at the global table and therefore help shape the po

GNI-per-head rankings: The sad stories of Greece and Italy

No other country lost as many positions as Greece and Italy in the rankings of European countries by Gross National Income per head, between 1990 and

L’euro sans l’Europe : un projet incohérent

Jean Pisani-Ferry constate que tous les grands partis ne remettent plus en cause l’euro. Il souligne néanmoins que trois vulnérabilités – économique,

High public debt in euro-area countries: comparing Belgium and Italy

This Policy Contribution looks at the evolution of public debt in Belgium and Italy since 1990 and uses the debt dynamics equation to explain the cont