Euro area

The economics of parallel currencies

As Greece faces a severe shortage of euros, the idea of introducing a parallel currency used for some domestic transactions – while keeping the euro i

Priorities for euro area governance reforms

In order to calm fears about weak euro area governance: better fiscal governance and a mechanism to ensure competitiveness despite the absence of

Europe’s integration overdrive

May 10 is the fifth anniversary of the bailout of Greece. Set almost exactly 60 years apart from the Schuman Declaration, the events triggered by the

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

European Monetary Union

Guntram Wollf answers the 11 questions submitted by the Commission president to the member states.

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

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

Eurozone enlargement

Should other Eurozone programme countries worry about a reduced Greek primary surplus target?

In this post Zsolt Darvas assesses the possible reaction of other Eurozone programme countries to a reduction in the Greek primary surplus target from

Greece and the euro area need a deal within days, not months

International press informs us that the Greek government believes it has weeks or perhaps months to negotiate a new deal with its creditors. The basic

Deepening the economic and monetary union

Commissioner Moscovici's speech at the Bruegel event "Deepening the economic and monetary union"

Deepening Economic and Monetary Union