EUROZONE: Merkron’s main risk is the interregnum (Italian politics in H2)
The Franco-German proposal for a budget-based recovery instrument is a promising first step, but significant political challenges still loom in H2/2020.A unique constellation of factors has motivated Berlin to move, but among the many open questions are reform commitments and re… Become a member to read the rest of this article Username or E-mail […]
EUROPE: The politics of exit strategies
This piece provides an updated overview of the lockdown exit strategies currently being implemented by selected European governments, and the surrounding politics. Please do not hesitate to contact us if you want to discuss any of the countries mentioned in more detail. Italy L… Become a member to read the rest of this article
GERMANY: ECB can still save PSPP, but medium-term political questions loom
● Today’s constitutional court ruling still allows the Bundesbank to continue participating in the European Central Bank’s (ECB) public sector purchase program (PSPP) – as long as a new ECB decision is taken within three months. ● Reluctantly, the court also accepted the view … Become a member to read the rest of this […]
GERMANY: The constitutional conundrums of ECB bond buying
● The governing council of the European Central Bank (ECB) will convene digitally on 30 April. ● While speculation continues about an expansion of its PEPP bond-buying scheme, yet another German constitutional court ruling on Eurozone crisis fighting is expected for 5 May. … Become a member to read the rest of this article
GERMANY: Managing Covid-19 (and a looming European crisis)
● Despite the challenges of the country’s decentralized decision-making system, authorities have managed to deal relatively well with the Covid-19 crisis so far. ● But strong public support for the government’s consensual crisis management should not be misread as pr… Become a member to read the rest of this article
GERMANY: False debt-brake alert (again)
Proposals from Finance Minister Olaf Scholz to temporarily suspend the country’s constitutional debt brake have been greeted with the usual excitement that tends to surround speculation about German fiscal expansion. Among those who quickly came out in favor of the idea… Become a member to read the rest of this article
GERMANY: As CDU soul searching continues, the winner might be Merkel
Outgoing Christian Democrats (CDU) chief Annegret Kramp-Karrenbauer (AKK) announced yesterday, 24 February, that the search for a new leader would be expedited. Rather than at the regular CDU conference at the end of the year, the new party leader will be chosen at a special conf… Become a member to read the rest of […]
GERMANY: Hamburg election increases pressure for quick CDU leadership fix
After today’s regional election in the city state of Hamburg, Chancellor Angela Merkel’s Christian Democrats (CDU) will come under renewed pressure to present a timeline and a mechanism for agreeing on a new party leadership. Merkel’s coalition partners, the Social Democrats (SPD… Become a member to read the rest of this article