Preserving ECB independence, Renewable energy as an asset class, and more
THE WEEKEND REVIEW – OMFIF
Latest opinion and analysis from OMFIF around the world
30 November-4 December 2020, Vol.11 Ed.47
Preserving ECB independence: Targeted fiscal support is the best policy tool to address the economic ramifications of the pandemic. Fears about central banks losing their independence through fiscal dominance or loss of market neutrality are misguided. Worse still, they can be dangerous if they discourage them from pursuing the right policies. By acting responsibly and using the tools appropriate for the conditions they face, central banks will enhance their credibility and independence, writes Danae Kyriakopoulou.
Giscard d’Estaing – Architect of euro and sdr:
Valéry Giscard d’Estaing, the former French president and finance minister, who has died aged 94, was an enigmatic figure, epochally significant in fostering post-war Franco-German rapprochement and European integration. He helped forge economic and monetary union and the euro by setting up the European Monetary System in 1978-79, writes David Marsh. Read more.
Yellen and dollar diplomacy: A Treasury led by former Federal Reserve Chair Janet Yellen has much to do in shoring up US exchange rate policy. President Trump’s currency policy has been confusing. He undermined the Treasury’s lead role and used unilateral financial sanctions so aggressively that US allies began questioning the dollar’s global role. Yellen needs to right the ship, writes Mark Sobel. Read more.
Renewable energy as an asset class: Covid-19 has dramatically shifted how policy-makers and investors view sustainability and climate change. In partnership with the British Embassy in Madrid and the Spanish Chamber of Commerce, OMFIF convenes a panel discussion on the latest investment trends, opportunities and challenges in renewable energy. Read more.
US-China – New rules of engagement: As China’s economic strength has grown, so has the tension in its relationship with the US. The Treasury, Federal Reserve and US regulators have long worked with the Chinese financial authorities. Is there still a good case for economic and financial engagement? And if so, how? OMFIF asks eight experts to plot a path to a better relationship. Read more.