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Begin New Search Political Geography Europe Author Guntram B. Wolff

1. Is the COVID-19 crisis an opportunity to boost the euro as a global currency?

Author:
Gregory Claeys and Guntram B. Wolff
Publication Date:
06-2020
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
The euro never challenged the US dollar, and its international status declined with the euro crisis. Faced with a US administration willing to use its hegemonic currency to extend its domestic policies beyond its borders, Europe is reflecting on how to promote it currency on the global stage to ensure its autonomy. But promoting a more prominent role for the euro is difficult and involves far-reaching changes to the fabric of the monetary union.
Topic:
Health, European Union, Currency, and COVID-19
Political Geography:
Europe and Global Focus

2. An effective economic response to the Coronavirus in Europe

Author:
Maria Demertzis, André Sapir, Simone Tagliapietra, and Guntram B. Wolff
Publication Date:
03-2020
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
'Whatever it takes' needs to be the motto to preserve lives and reduce the impact on the economy of the epidemic.
Topic:
Governance, Economy, Central Bank, Macroeconomics, and COVID-19
Political Geography:
Europe

3. Rebooting Europe: a framework for a post COVID-19 economic recovery

Author:
Julia Anderson, Simone Tagliapietra, and Guntram B. Wolff
Publication Date:
05-2020
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
COVID-19 has triggered a severe recession and policymakers in European Union countries are providing generous, largely indiscriminate, support to companies. As the recession gets deeper, a more comprehensive strategy is needed. This should be based on four principles: viability of supported entities, fairness, achieving societal goals, and giving society a share in future profits. The effort should be structured around equity and recovery funds with borrowing at EU level.
Topic:
Climate Change, Energy Policy, Global Recession, European Union, and COVID-19
Political Geography:
Europe

4. From climate change to cyber attacks: Incipient financial-stability risks for the euro area

Author:
Zsolt Darvas, Marta Dominguez-Jimenez, and Guntram B. Wolff
Publication Date:
02-2020
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
The European Central Bank’s November 2019 Financial Stability Review highlighted the risks to growth in an environment of global uncertainty. On the whole, the ECB report is comprehensive and covers the main risks to euro-area financial stability, we highlight issues that deserve more attention.
Topic:
Governance, Finance, Central Bank, and Macroeconomics
Political Geography:
Europe

5. Policy Lessons from the Eurozone Crisis

Author:
Chiara Angeloni, Silvia Merler, and Guntram B. Wolff
Publication Date:
12-2012
Content Type:
Journal Article
Journal:
The International Spectator
Institution:
Istituto Affari Internazionali
Abstract:
The current European crisis has shed light on several weaknesses and the institutional incompleteness characterizing the euro area. The manifestation of Europe's fragility was preceded by a large build-up of debt in the private sector, associated with national current account divergences and the deterioration of competitiveness particularly of the euro periphery countries. With the economic situation deteriorating, private sector debt became less credible, contaminating banks' balance sheets and placing a heavy burden on governments. A sovereign-bank vicious circle emerged: on the one hand, with banking risk translating into higher sovereign risk because of the governments' guarantor role and, on the other hand, with the deterioration of government's creditworthiness affecting the banking systems through banks' sovereign bond holdings. In principle, this negative feedback can be stopped by breaking one of the channels of transmission. A banking union at the European level is proposed as one solution.
Topic:
Disaster Relief
Political Geography:
Europe