We examine the impact of introducing a digital euro, as currently conceptualized in the proposal by the European Commission, on the liquidity situation of banks in Germany. The analyses are the basis for assessing the effects of a digital euro on banks' liquidity, as presented in the 11th Annual...

This report investigates how the EU should deal with shockflation - inflation unleashed by shocks to systemically significant prices such as energy and food. We argue that the ECB's monetary policy is not an adequate instrument to deal with this kind of inflation. Therefore, the EU currently...

The present volume of the Spring 2024 Standard Eurobarometer survey focuses on European citizenship. Here we analyse the following issues: Attachment of Europeans to the European Union, particularly compared with attachment to respondent's city/town/village, to their country and to Europe. The...

The Eurosystem's digital euro project aims to ensure central bank money evolves alongside current payment preferences and trends, as well as to facilitate electronic payments everywhere in the euro area and strengthen Europe's strategic autonomy. A digital euro would be a digital means of retail...

We present a methodology based on quarterly sectoral accounts to build a map of the euro area financial system. The map can be used to visualise existing cross-sectoral interconnections and exposures, to analyse how the main bilateral positions have evolved over time, and to understand how past...