This paper argues that EMU has been and continues to be a politically driven process. In this perspective, it examines the issues and the implications of potential Euroexit and Euro break up: it underlines that these processes would have a prominent political dimension, as was the case for the...

Following bank failures in 1974, notably in Germany (Bankhaus Herstatt of Cologne on June 16) and the US (Franklin National Bank of New York on October 8), the Central Bank Governors of the G10 countries decided to set up a Committee at the BIS in Basel to improve quality and enhance the...

After recalling the quantitative relevance as of end-2019 of “new normal” ultra-low interest rates at world level, a brief discussion is offered of key areas of economic analysis and policy critically impacted by negative nominal interest rates. Specific reference is made to the following...

Chapter 1. Introduction (Paolo Savona) -- Chapter 2. Economics and money: political and epistemological perspectives of connecting and fault lines. A fil rouge from Keynes to digitization (Rainer Stefano Masera) -- Chapter 3. The Great Repricing: Central Banks and the World Economy (Mervyn...

In the current European macroeconomic context Asset Backed Securities (ABS) represent an appropriate instrument to revitalize bank lending and to help overcoming the manifestations of credit crunch notably for SMEs. As evidence of this, the purchase of properly designed ABS has been recently...