Monetary policy
Monetary policy

The ECB should maintain its course Arrow

The European Central Bank (ECB) intends to maintain the scope of its large-scale asset purchase program with monthly purchases of 60 billion Euro. Despite being criticized, this policy proves to be right, because a first success can already be seen. more

Forget about the union
Michael Hüther in "Süddeutschen Zeitung"

Stop dreaming Arrow

Many still long for a politically united Europe. This is not feasible, writes Michael Hüther, head of the Cologne Institute for Economic Research, in an essay published in "Süddeutsche Zeitung". Rather, we should celebrate what has been achieved so far: a banking and a fiscal union. more

Renminbi
Renminbi

No currency war on the horizon Arrow

The Chinese economy has been running out of steam. Now, the central bank decided to depreciate the Renminbi and many financial actors fear this step as if a currency war will begin. However, the depreciation is just a logical step in the context of the current economic development and the recent strength of the dollar. more

Euro area

Drawn-out endingsArrow

Euroländer

The European monetary union still hasn’t prepared sufficient rules for cases where state insolvency is unavoidable. If this gap were closed, it would be easier to ensure that no euro area country will ever be liable for another euro area country’s debt. A recent proposal by Cologne-based IW illustrates a possible approach to an orderly insolvency procedures for euro area countries.more

Berthold Busch / Jürgen Matthes Orderly sovereign debt restructuring procedures for the euro area
Euroländer
Euro area

Lock Drawn-out endings Arrow

The European monetary union still hasn’t prepared sufficient rules for cases where state insolvency is unavoidable. If this gap were closed, it would be easier to ensure that no euro area country will ever be liable for another euro area country’s debt. A recent proposal by Cologne-based IW illustrates a possible approach to an orderly insolvency procedures for euro area countries. more

IW Trust Index
IW Trust Index

Lack of trust in crisis countries Arrow

Crises like the ones in global finance markets and in the European monetary union tend to have one thing in common: they are caused, or at least aggravated, by a lack of trust. This is also evident when looking at the current Greek crisis, as indicated by the new trust index developed by the Cologne Institute for Economic Research (IW). more

Steuervermeidung und Gewinnverlagerung
Tax avoidance and profit shifting

It’s not only the company Arrow

A few days before the G7 meeting in Germany, the G7 finance ministers discussed new strategies in order to fight profit shifting by multinational enterprises. Unfortunately, it seems that the politicians forget about their own responsibility for a fair international tax system.  more

Going digital?
Competition Policy

Going digital? Arrow

The internet profoundly changes business models and markets. Competition policy, however, has hardly changed. The German Monopolies Commission, an expert committee advising the German government and legislature on competition policy-making, now recommends adjusting the existing regulation. The question is: Is that even doable? more