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Simone Tagliapietra

OPEC's revival or swan song? First evidences from financial markets

On Wednesday, 30 November 2016, OPEC reached a milestone agreement to cut oil production by 1.2 million barrels a day in a long-awaited attempt to end the savage two-year downturn in prices that has shredded the budgets of its members. The deal will come into effect in January 2017 and it will mark a U-turn from the pump-at-will policy adopted by the group in November 2014.

By: Enrico Nano and Simone Tagliapietra Topic: Energy & Climate Date: December 2, 2016
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Silvia Merler

Financial implications of the Italian referendum

On Sunday, Italy will held a constitutional referendum whose implications for the political stability of the country are uncertain. Right after the referendum, Italy’s oldest and most troubled bank - Monte dei Paschi di Siena - is expected to complete a very important and sizable capital raise. Here we look at the situation and implications of this critical juncture.

By: Silvia Merler Topic: European Macroeconomics & Governance Date: December 2, 2016
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Simone Tagliapietra
Georg Zachmann

How to put cities at the heart of EU clean energy plans

As the European Commission releases its new energy package, “Clean Energy for all Europeans”, our authors argue that cities are the key to success. They propose a new governance mechanism where cities develop and implement ambitious City Climate Plans – with direct monitoring and financial support from the EU.

By: Simone Tagliapietra and Georg Zachmann Topic: Energy & Climate Date: November 30, 2016
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Giuseppe Porcaro
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Tweeting the Italian referendum: the hashtag war

We are monitoring an aggregate of twitter hashtags in the run up to the Italian Constitutional referendum of 4 December 2016.

By: Giuseppe Porcaro, Henrik Müller and Gerret von Nordheim Topic: European Macroeconomics & Governance Date: November 29, 2016
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Can public support help Europe build distressed asset markets?

Distressed asset investors can relieve banks of their NPL overhang and offer valuable restructuring expertise, although banks will need to realise a further valuation loss. Regulators could do a lot to support the growth of this market.

By: Alexander Lehmann Topic: Finance & Financial Regulation Date: November 29, 2016

20 minutes ago

A review of options on the table for the future EU-UK relationship #Brexit https://t.co/wcrFjOuJGj https://t.co/MCU1sKBZaL

2 hours ago

CHART | #Greece #Cyprus #Italy remain countries w/ highest levels of bad #debts https://t.co/z7h0ORstJ8 https://t.co/IDueGcdE1M

2 hours ago

#Employment of highly-educated workers continued to increase in EU during the crisis https://t.co/Yzla4HTzoW… https://t.co/FTrvBfB0v2

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Opinion

Alicia García-Herrero

Japanese banks and US$ liquidity: Squeezed between expensive deposits and the BoJ

For the last few years, Japanese banks have aggressively expanded their assets overseas, which has helped increased their stubbornly low profitability even after the introduction of negative interest rates by BoJ. Such a successful overseas strategy, profitability-wise, may be at risk due to US$ liquidity developments at a global level.

By: Alicia García-Herrero Topic: Global Economics & Governance Date: November 28, 2016
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Silvia Merler

The Italian referendum

What’s at stake: on 4 December, Italy will hold a referendum on a proposed constitutional reform approved by Parliament in April. The reform, which was designed in tandem with a new electoral law, aims to overcome Italy’s “perfect bicameralism” by changing the structure and role of the Italian Senate. It also changes the distribution of competences between the state and regions. After the shocks of Brexit and the US election, polls are now drifting towards a defeat of the government’s position in Italy.

By: Silvia Merler Topic: European Macroeconomics & Governance Date: November 28, 2016
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Opinion

Simone Tagliapietra

Più energia alla cooperazione

L'attuale crisi migratoria e gli altri devastanti postumi delle cosiddette “Primavere arabe” illustrano in modo tragico, ma chiaro, la necessità di un nuovo approccio di cooperazione da parte dell’Europa nell’area del Mediterraneo. L’Europa deve urgentemente ripensare le proprie politiche nell’area, al fine di contribuire in modo concreto e sostenibile allo sviluppo economico dei Paesi sud: l’unico vero rimedio strutturale alle attuali problematiche.

By: Simone Tagliapietra Topic: Energy & Climate Date: November 24, 2016
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Clean Energy for all Europeans

Speech by the European Commissioner for Climate Action and Energy, Miguel Arias Cañete, at Bruegel on 24 November 2016

By: Miguel Arias Cañete Topic: Energy & Climate Date: November 24, 2016
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Opinion

Alicia García-Herrero

South Korea and Indonesia: a capital match

Mutually beneficial Jakarta-Seoul relationship could develop further with an upgrade in Jakarta’s sovereign debt.

By: Alicia García-Herrero Topic: Finance & Financial Regulation, Global Economics & Governance Date: November 23, 2016
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Zsolt Darvas

Income inequality has been falling in the EU

The properly measured EU-wide Gini coefficient of disposable income inequality shows that inequality in the EU as whole declined in 1994-2008, after which it remained broadly stable. However, within the EU, there are large differences in income inequality which require policy action.

By: Zsolt Darvas Topic: European Macroeconomics & Governance Date: November 23, 2016
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Pia Hüttl
Silvia Merler

An update: Sovereign bond holdings in the euro area – the impact of QE

Since the ECB’s announcement of its QE programme in January 2015, national central banks have been buying government and national agency bonds. In this post we look at the effect of QE on sectoral holdings of government bonds, based on our recently updated dataset.

By: Pia Hüttl and Silvia Merler Topic: European Macroeconomics & Governance Date: November 22, 2016
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