In Germany, the medium-term financial planning (Mifrifiʺ) was introduced at the end of the sixties. This study scrutinizes the experience of the German Bund with more than thirty years of financial planning. In the first step, the paper explores the potential normative and political-economic...

The purported advantages of corona bonds over the ESM are meagre to non-existent, says Friedrich Heinemann (EconPol Europe, ZEW). The challenge we face is to contain the spread of COVID-19 while stabilising the economy and ensuring eurozone states have sufficient liquidity and the ESM is a...

Diese Analyse befasst sich mit der Absicherung der EU-Schulden, die gemäß dem neuen EU-Eigenmittelbeschluss zur Finanzierung des EU-Corona-Wiederaufbauplans Next Generation EU (NGEU) aufgenommen werden sollen. Diese Absicherung erfolgt unter anderem durch eine gesonderte...