Member states of the euro area have been struggling with the legacies of the severe financial and economic crisis for four years now. But debt ratios are still rising. Negative primary balances, low growth, and low inflation do not allow for a recovery similar to the one in the US after the...

The sustainability of the financial markets is a requirement that has only appeared very recently on the economic policy agenda, whereas a stable financial system has been a declared goal for decades. The relationship between sustainability and stability is, however, still unclear. The two terms...

One of the most pressing public priorities in Germany at present is how to organize the transformation of the energy system. However, the cost of stabilizing the financial sector as well as the fiscal pact and the debt brake mean that the state has limited financial resources. Consequently, the...