QE and its impact on bank profitability
The quantitative easing (QE) programs that started in the second quarter of 2015 remain controversial, especially in Germany. The sums...
A framework for thinking about bad loans
The attempt to address the problem of non-performing loans in the EU should tackle both sides of credit creation at once. On the demand...
How easy is it to increase fiscal capacity in the EU?
Figure 1: Trust in the EU low but stable Read my new paper with Guntram Wolff A monetary union without fiscal union is generally...
