A monetary union among autonomous countries cannot simultaneously maintain an independent monetary policy, national fiscal sovereignty and a no-bailout clause. These three features make up an impossible trinity, and attempts to preserve all three concurrently will ultimately end in failure. In...

A number of tools have been suggested for solving the European sovereign debt crisis, in particular the options of leveraging the EFSF/ESM, introducing Eurobonds and a European Troubled Asset Relief Programme (Euro-TARP). However, it is unclear how these instruments will work, given jittery...

A number of shortcomings in Germany’s efforts to contain the spread of the coronavirus, including fraudulent testing, vaccination fraud and insufficient testing capacity have been identified and need to be remedied before another wave or worse, another pandemic. This paper examines the...