26.03.2020 - Macroeconomics

by Agnieszka Gehringer

In the aftermath of the Great Financial Crisis 2008-2009 and European debt crisis 2011-2012, the public debt ratios in G7 countries increased on average by altogether 40% of GDP. The coronavirus pandemic is likely to generate a much higher fiscal dam ...

18.03.2020 - Global economy

by Agnieszka Gehringer

As an answer to the looming economic crisis amid the coronavirus pandemic, several governments in the euro area announced very substantial rescue packages. As a consequence, public debt will increase strongly. For a number of countries the debt will ...

17.03.2020 - Global economy

by Agnieszka Gehringer

The increase of the public debt ratio in Italy as a result of measures to fight the coronavirus pandemic and of the recession will sooner or later require an intense effort to ensure the solvency of the Italian state.

01.01.2020 - European Union

by Thomas Mayer

The German Bundestag has accepted its gradual disempowerment through the expansion of the monetary union into a liability community for the sake of European peace. But in fact it also abdicates by surrendering the "royal right of parliament" ...

02.01.2020 - Society & Finance

by Marius Kleinheyer

The German pension system is in crisis because of the decline in the birth rate. It would be necessary to reduce the Pay-As-You-Go (PAYG) pension to a basic provision and to build up a funded pension scheme to secure living standards. However, it is ...

28.02.2020 - Society & Finance

by Thomas Mayer, Marius Kleinheyer

Confidence is essential for the existence of EMU. But it can only be won if the ECB's policies are explained in a way that is comprehensible to the public. This is impossible in the case of the ECB's negative interest rate policy.