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September 27, 2021

Europe | Germany — starting point for the cycle of elections

The election results show a very open electoral landscape—with a narrow victory by the SPD. These elections are important because they signal the start of an electoral cycle in the major European countries, within a context plagued with problems needing to be resolved.

August 9, 2021

Global | Why are debt yields falling?

Financial markets began the year on a positive note. The progress made in vaccinations, central bank support and the fiscal stimulus programs planned for Europe and the US, helped drive expectations of an economic recovery.

May 13, 2021

Europe | Governance and fiscal sustainability in the EU

The COVID has been a great challenge, forcing to approve unprecedented measures. In Europe, monetary and fiscal stimuli prevented further economic drop but at the same time public accounts were hit. A clear budgetary plan and a suitable fiscal framework will be crucial to guarantee the sustainability of public finances.

December 16, 2020

Spain | Insolvency proceedings: a useful mechanism but that still has room for improvement

A sound system that enables corporate restructurings and insolvencies to be managed quickly and efficiently, that strives to help viable companies stay afloat and ensures that creditors' and debtors’ rights are protected, is key to a country's financial stability.

July 31, 2020

Europe | A new generation of policies for a new EU

On July 21, the Council of the European Union adopted the Next Generation EU (NGEU) Recovery Plan, worth EUR 750 billion, for the coming years. It is equivalent to 5.4% of the EU's GDP, and almost EUR 1700 per capita.

July 3, 2020

China | How to finance the fiscal stimulus package?

This report analyzes the ways to finance this round of fiscal stimulus package and responds to the recent debate of fiscal deficit monetization. The report also makes policy suggestions to maintain Chinese public debt level and financial stability in the long term.

June 2, 2020

Europe | Recovery Fund: Crisis as an Opportunity

The draft for the European fiscal stimulus laid out last week by the European Commission—which builds on the recent Franco-German proposal to establish a Recovery Fund—has two interpretations and both are positive.

December 16, 2019

Emerging resistance

Emerging assets have successfully managed to overcome a turbulent year, marked by increased protectionism and fears of a sharp slowdown in the world economy.