Despite the United Kingdom never having adopted the euro, the upcoming Brexit will have consequences not only for the European Union as a whole but also for monetary integration. The UK's withdrawal from the EU will heighten fears among the 'euro-outs', the eight Member States that have not...

France's yellow vests (gilets jaunes) are heterogeneous, make contradictory demands, and refuse to give up. Since November 2018 they have been demonstrating for more purchasing power and greater democracy. Having made financial concessions, Presi­dent Emmanuel Macron is now playing for time. He...

The attempt to provoke early elections in August 2019 by the leader of the League, Matteo Salvini, unexpectedly led to a pragmatic coalition of the Five-Star Movement (M5S) and the Democratic Party (PD) and the formation of a second government under Giuseppe Conte. This government operates in a...

One of the most serious economic and social consequences of the pandemic is the higher public debt of the Eurozone countries. The massive interventions of the Euro­system have lowered borrowing costs to record lows. For some time to come, the sustainability of the public finances of the most...

The number of digital currencies has increased significantly in recent years. So-called central bank digital currencies (CBDCs), created by central banks, are at the forefront of this development. Combining the advantages of an electronic means of payment - namely the speed and efficiency of...