The unprecedented fiscal package adopted by the European Council in the summer of 2020—
dubbed Next Generation EU—was vital for the recovery of the euro area from the pandemic …

La pandemia de Covid-19 ha afectado sustancialmente la trayectoria financiera de los
Gobiernos, que han experimentado un aumento significativo de sus necesidades de …

This paper analyses the potential of a European Debt Agency (EDA) as an efficient debt
management institution for the Euro area. The simulation of prices and quantities that would …

The paper shows that the introduction a Eurobond together with fiscal capacity at the centre
would produce macro-stabilisation benefits both for the 'core'and 'periphery'of the Eurozone …

The COVID-19 pandemic has substantially affected the financial trajectory of governments,
which have seen their financing needs increase significantly. Against this background, the …

The COVID-19 outbreak that is hitting the euro area economy needs to be met by a powerful
policy response beyond the emergency measures already in place. This column uses an …

The 2020–2021 review of the ECB strategy will shape monetary policy in the Eurozone in
the years to come. Crucially, it will also determine the scope and capabilities of the ECB …

Right in the middle of the Covid-19 pandemic, the German federal constitutional court (
Bundesverfassungsgericht–FCC) issued a ruling that sent massive shockwaves through the …

Fiscal restraint looks inevitable in the Eurozone following the pandemic, especially if the
fiscal rules are reinstated. How to match this with the need to finance the climate transition …

For the subsample of the euro area countries, we find that the current account balance,
private credit flow and the labour market indicators are affected by the introduction of the …