Francesco Papadia

1 month ago | bruegel.org | Francesco Papadia |Rebecca Christie |Jean Pisani-Ferry |Nicolas Véron

In this episode of The Sound of Economics, we mark a decade since the Greek debt crisis, reflecting past hardships and the progress made and the challenges that lie ahead. Host Rebecca Christie is joined by George Papaconstantinou, former Greek Minister of Finance, and Eleni Varvitsioti, journalist and expert on European affairs. Together, they explore Greece’s recovery journey, from the turbulence of the crisis to its recovery and economic growth.

Oct 14, 2024 | bruegel.org | Francesco Papadia |Giuseppe Porcaro |Giulia Gotti

The historical track record of centralisation of public expenditures at European Union level is patchy, and the prospects of agreement on future common spending are not good. However, Russia’s attack on Ukraine, NextGenerationEU, ensuring the stability of the euro and the climate crisis have been cited as justifying a further step-up in public spending at EU level.

Oct 4, 2023 | bruegel.org | Maria Demertzis |Francesco Papadia

Central banks normally accept debt of their own governments as collateral in liquidity operations without reservations. This gives rise to a valuable liquidity premium that reduces the cost of government finance. The ECB is an interesting exception in this respect. It relies on external assessments of the creditworthiness of its member states, such as credit ratings, to determine eligibility and the haircut it imposes on such debt.

Sep 7, 2023 | bruegel.org | Rebecca Christie |Maria Demertzis |Francesco Papadia

European banking supervision has developed and matured by moving from being predominantly rules-based and heavily codified, to becoming more risk-focused and adaptable to rapidly changing economic circumstances.