Here is a puzzling phenomenon of recent years: The British government has been paying more interest on its debt than most Eurozone governments, in particular the French government.

Deze bijdrage werd geschreven door: Francis Biesmans, emeritus hoogleraar (Université de Lorraine); Samuel Cogolati, doctor in het internationaal recht (KU Leuven); Paul De Grauwe, professor (London S...

Paul De Grauwe is professor aan de London School of Economics. Hij gelooft niet dat de begrotingssanering breed zal gedragen worden door de bevolking, door de privileges voor de mensen met hogere inko...

¿Por qué un país que solo es el 15% del comercio mundial debería intimidar al resto del mundo para que se someta?

The fight against inflation has largely been won in the euro area, after a sharp but short-lived inflation episode over 2021-2023. This column argues that energy prices can explain the dynamics of inflation over the recent period better than the interest rate policy of the ECB. At the same time, higher interest rates led to significant losses incurred by central banks as they had to make interest transfers to banks holding reserves. A tiered system for remuneration of bank reserves would have allowed for a significant reduction in interest transfers to the banks, while keeping the central bank’s operating procedure unchanged.