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Schriftliche Stellungnahme Bundestagsanhörung „Niedrigzinspolitik der EZB“

This Policy Contribution was prepared for the Financial Committee of the German Bundestag. It is only available in German.

Firmer foundations for a stronger European Banking Union

The idea of Banking Union has been instrumental in arresting the euro sovereign crisis. However the long-term rationale behind Banking Union is relate

Greek bank recap

The ECB published the comprehensive assessment of the four major Greek banks (Alpha Bank, Eurobank, National Bank of Greece and Piraeus Bank) yesterd

Inflation expectations and global risks: the need for ECB action

The ECB will have its next monetary decision meeting on Thursday. Instead of following politically motivated statements that complain about low nomina

Clueless in Europe

Despite a slowing Chinese economy, decelerating inflation and a stronger euro, European Central Bank President Mario Draghi has said he will do more t

What options for European deposit insurance?

The aim of this blog post is to clarify different options of how to organize European deposit insurance without yet settling on the best option. We a

Euro area banks remain vulnerable

Strengthening the banking system is important to achieve a sustainable recovery, because it will revitalise credit to the healthier segments of the ec

Still vulnerable: the euro area’s small and medium-sized banks

In our recent research we show that the small and medium-sized banks (SMBs) – and among them the unlisted banks – remain under considerable stress.

Follow what I do, and also what I say: Monetary policy impact on Brazil’s financial markets

The objective of this paper is to assess empirically whether futures interest rates in Brazil react to changes in the SELIC rate and, especially, to

Inflation Surprises

While it is still too early to tell if the ECB QE programme launched on March 9 will manage to bring back inflation towards the target in the medium t

ECB Quantitative Easing on track

On 9 March 2015 the ECB began purchasing European sovereign and agency bonds and supranational debt securities under the Public Sector Purchase Progra

Money growth in the euro area is speeding up

Is the ECB sacrificing reforms on the altar of inflation?

This blog post explores whether the European Central Bank (ECB)'s large programme of sovereign bonds purchases (QE) could slow down ref

European Central Bank quantitative easing: the detailed manual

This Policy Contribution examines the detail of how quantitative easing will actually take place in the euro area and its implications, following

Euro-area governance: what to reform and how to do it

This Policy Brief argues that the Euro-area governance needs to move beyond the improvements brought about by banking union and should establish

ECB collateral damages on Greece

The European Central Bank’s Governing Council lifted the waiver of minimum credit rating requirements for greek government bonds which, until yesterda