The European Central Bank's interest rate hikes since July 2022 have been passed on to customers by banks on credit markets to a much greater extent than on deposit markets. As a result, banks' net interest margins have risen extraordinarily sharply. An analysis of the interest rate pass-through...

Gustav A. Horn: In Zeiten globaler Konflikte Thomas Gehrig: Geopolitics, the End of Globalization? Doris Neuberger: Wege Europas zu mehr Autonomie im Zahlungsverkehr - die Rolle von privaten Akteuren Patrick Kaczmarczyk: Verflochtene Schicksale: Warum die Schuldenkrisen des globalen Südens auch...

This article provides a timely update on central bank digital currencies and the digital euro in the wake of the new executive orders, signed by US President Donald Trump, which establish a strategic Bitcoin reserve and a US Digital Asset Stockpile on the one hand, and ban central bank digital...