How Germany can lead Europe’s post-Covid recovery, Threats to central bank independence, and more
THE WEEKEND REVIEW – OMFIF
Latest opinion and analysis from OMFIF around the world
1-5 February 2021, Vol.12 Ed.5
How Germany can lead Europe’s post-Covid recovery: Germany and the rest of Europe know all too well that only strong economies and finances will ensure respect and success in the world. Both Germany and Europe have benefitted from its ‘anchor’ role in the continent and push for prudent policies. This has helped the euro area’s credibility in difficult times, including during the Covid-19 pandemic. Germany must convince European colleagues that it is openness, and not protectionism, that will keep them fit and competitive, writes Ludger Schuknecht. Read more.
Is the world facing inflation?: Charles Goodhart, emeritus professor at the LSE, and Manoj Pradhan, founder of Talking Heads Macro, discuss their book The Great Demographic Reversal. The discussion, led by David Marsh, OMFIF chairman, centres on the effects of demography on price levels as retirees stoke up global demand, leading to product scarcity and bottlenecks. Listen.
Threats to central bank independence: This edition of The Bulletin aims squarely at the big issues that will dominate discussions among policy-makers throughout 2021, and probably for some time after that. Our cover story, written by David Marsh, addresses a question that matters hugely to many of our members and readers: what is the role of a central bank today? Read The Bulletin.
Draghi’s grandest and gravest mission: Mario Draghi is embarking on his toughest task yet. It is a more arduous challenge than he faced during his presidency of the ECB. If Draghi can navigate the early political labyrinth, his chances of steering Italy to elections scheduled for no later than May 2023 will be enhanced but not secured, writes David Marsh. Read more.
International CCP regulation: At the start of the Covid-19 crisis, financial markets experienced a ‘dash for cash’. Central counterparties were resilient in the face of stress, but regulators will need to coordinate regulation to ensure that they keep functioning properly. Christina Segal-Knowles, executive director at the Bank of England, discusses the questions at hand. Watch.