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Europe’s Future Will Be Decided at a Quaint Renaissance Italian Bank

Thursday, 4 August 2016
article
Italy’s third largest bank needs a bailout. What happens next could mean a revolution in Rome – or in Brussels.

A report on the IMF’s work in Europe exposes raw nerves over the handling of Greece

Wednesday, 3 August 2016
blog
It remains difficult to have a calm discussion about the Greece. Just look at the reaction to the release on July 28 of the Independent Evaluation Office of the IMF’s review of the handling the European debt crisis. Ambrose Evans-Pritchard of the Daily Telegraph called the IEO's conclusions a “lacerating verdict” on the IMF’s management of the “most damaging episode in the history of the Bretton Woods institutions.” Ian Talley of the Wall Street Journal said the watchdog’s report “gives credence to some of the fund’s harshest critics.” The Financial Times called the assessment “damning.”

Brexit Fudge

Wednesday, 3 August 2016
article
in Share . 8 LONDON – “Brexit means Brexit,” Theresa May, the United Kingdom’s new prime minister, insists. It is a simple and powerful slogan that sends an unmistakable message to all who have been hoping for a reevaluation of June’s referendum result. The UK, it seems clear, will be leaving the European Union. But that is where the clarity ends.

The G20 disappoints again, but is that because expectations are too high?

Monday, 25 July 2016
blog
What’s the right way to the G20? There is good reason to set the bar high. The G20 showed us what it is capable of in 2009 and 2010, when the world needed it most. There is a general feeling among those who pay the closest attention to international governance that the G20 has done little to redeem itself since. The world’s most important economies are stuck in a seven-year slump of inaction, according to this view. That makes them part of the problem; if their inaction is not the root cause, then it is at least a byproduct of this era of serial disappointment.

U.K.’s new prime minister must negotiate EU split quickly

Friday, 15 July 2016
article
The UK's economic and political health could suffer greatly if its new relationship with Europe is not determined soon

Are low interest rates doing more harm than good?

Friday, 15 July 2016
article
Chris Sorensen
In the wake of Brexit the world is once again looking to central banks to jump-start the economy with more stimulus. But are low rates doing more harm than good?

What’s the Problem With Protectionism?

Thursday, 14 July 2016
article
One thing is now certain about the upcoming presidential election in the United States: the next president will not be a committed free trader. The presumptive Democratic nominee, Hillary Clinton, is at best a lukewarm supporter of freer trade, and of the Trans-Pacific Partnership in particular. Her Republican counterpart, Donald Trump, is downright hostile to trade deals that would throw open US markets. Breaking with modern Republican tradition, Trump envisages a 35% tariff on imported cars and parts produced by Ford plants in Mexico and a 45% tariff on imports from China.

CETA is moving forward in spite of challenges

Wednesday, 6 July 2016
blog
After a lull since the publication of the final text of the Comprehensive Economic and Trade Agreement (CETA) between Canada and the European Union (EU) at the end of February, CETA is now back in the news.

The Brexit Surprise and Emerging Markets

Tuesday, 5 July 2016
article
Barry Eichengreen, Poonam Gupta, Anderson Ospino
The surprise outcome of the UK’s EU membership referendum is in some ways analogous to the ‘Taper Tantrum’ (the correction in financial markets following Ben Bernanke’s May 2013 suggestion that the US central bank was contemplating reducing its rate of security purchases). This column looks at whether the Brexit Surprise has had analogous effects on emerging markets. Emerging economies felt a strong negative impact that was larger and more widespread than in the case of the Taper Tantrum. Where the Taper Tantrum was mainly a financial shock, the Brexit Surprise is evidently perceived as having real as well as financial consequences.

Brexit has happened - so what?

Thursday, 30 June 2016
article
Britain's exit from the European Union(EU), is being termed one of the most catastrophic shots to the global economy. However, the more pressing question of how Brexit impacts ordinary citizens of the UK and the EU, as well as, what the dynamics in the UK post-Brexit look like, are equally as pressing. To gain new insight into these questions and more, we sit down with global economy expert and Claude & Lore Kelly Professor of European Studies at Princeton University Harold James.
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