Recent Blogs




Cyprus: A dark future within the euro area

We have a deal. After another memorable weekend in the so-far short but fateful life of the single currency, Cyprus and the Eurogroup finally reached an agreement on a package that...

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It’s the euro that needs a solidarity fund

Developments in Cyprus over the past week suggest that the key lesson euro area policymakers took away from the messy Greek bailout is that they should no longer underwrite a deal that doesn’t resolve a country’s debt position once and for all...

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The madness of Chancellor George

No Chancellor in the past 100 years has delivered his fourth Budget having presided over a worse growth performance than George Osborne did today. The economy is just 0.7% larger than when he took office...

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Cyprus: A Haircut In All But Name

After six months of broad stability in euro area markets, Saturday morning’s announcement by the Eurogroup of its framework for the Cyprus bailout – based on an offer of up to €10bn of multilateral funds...

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Banking union: Deflecting the euro area’s cosmic rock

Credit conditions in the euro area’s periphery continue to deteriorate. Despite the recent marked improvement in banks’ funding positions, highlighted by the large-scale LTRO repayments in January, loans to non-financial companies in the periphery contracted...

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