The joint Intereconomics/CEPS conference focused on income convergence among EU countries and within specific countries like Germany and Italy. I would like to first caution about overinterpreting these results and then look at other divergences within the Eurozone, which I regard as much more...

Most technocrats argue that creating the euro was a way of forcing the pace of political integration, since monetary union is not possible without political union. We disagree and instead put forward four minimal conditions for the survival of the euro. Political integration in Europe has its...

The idea of a golden rule has recently been relaunched in the framework of the debate on the European Green Deal.

After almost four decades of price stability, inflation has recently approached historical highs. Initially driven by global energy and food price increases, the magnitude of the surge in inflation caught central banks and markets by surprise. Price pressures are now increasingly broadening to...

Despite the experience of the ongoing sovereign debt crisis, European banks continue to hold large amounts of bonds from their home governments. This ties the fates of the sovereign and the banks together, leading to the disruptive self-reinforcing feedback loops that brought the euro area to...