Luis Garicano

Formal complaint against the Spanish Government’s bailout of Plus Ultra

On Thursday, May 20, I presented my formal complaint before the European Commission against the Government’s justification for the 53-million-euro aid to the airline Plus Ultra. My complaint shows that Plus Ultra is not strategic, that it was in crisis before the pandemic, that it is fundamentally insolvent, and that the amount of aid given …

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A proposal for the design of a Carbon Border Adjustment Mechanism

In March 2021, the European Parliament approved a specific proposal for the introduction of a WTO-compatible Carbon Border Adjustment Mechanism (CBAM), a key element to support the European Green Deal and a real game changer for climate policy. The objective of the CBAM is to fight climate change and to support the EU’s climate objectives, …

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Europe is not a cash machine

The recovery and reconstruction of the European Economy after COVID19 will be a huge task for the European Union, a task that will require difficult decisions. Indeed, Europe is not a cash machine. In this presentation, I develop the reforms that Spain must undertake to take advantage of the historic opportunity provided by the European …

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Tackling inflation if it reappears

One lasting effect of the Global Crisis and the Covid-19 crisis will be a large increase in general government debt worldwide. This may lead to a scenario of ‘fiscal dominance’, in which expansionary fiscal policies are combined with accommodating monetary policies to alleviate the debt burden. This column argues that such a situation would put …

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