My plans for Europe
The challenges Europe face are global and no EU country has the capacity to face them alone. These are my plans for a strong, well-structured and decisive Europe.
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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
Since the start of the crisis, the link between banks and their sovereigns has only been strengthening, with dire consequences for the periphery’s economies. To focus on Spain, in October 2008, the Spanish financial system had 78bn of Spanish government
The idea that Europe’s response to the economic crisis should be based on the issuance of common perpetual bonds has been slowly gaining ground, but proposals that entail substantial increases to member states’ debt risk hampering growth for decades to
Paper prepared for ECB Conference on “Fiscal Policy and EMU Governance”, Frankfurt, 19 December 2019 Luis GaricanoMember of the European Parliament Professor of Economics and Strategy, IE Business School (on leave) AbstractNearly eight years after its inception, the European Banking