777 resultados para Government publicity.
Resumo:
Since the announcement of the Outright Monetary Transactions (OMT) programme by Mario Draghi, President of the ECB, in 2012, the government bond spreads began a strong decline. This paper finds that most of this decline is due to the positive market sentiments that the OMT programme has triggered and is not related to underlying fundamentals, such as the debt-to-GDP ratios or the external debt position that have continued to increase in most countries. The authors even argue that the market’s euphoria may have gone too far in taking into account the same market fundamentals. They conclude with some thoughts about the future governance of the OMT programme.
Resumo:
Leaders of the EU’s institutions have to be political entrepreneurs if they are to leave a mark on history. Their decision-making power is limited, but they can often frame the choices and broker coalitions to push the existing boundaries of European integration. This Commentary by Daniel Gros finds that none of the EU’s top three new faces – Jean-Claude Juncker, Donald Tusk or Federica Mogherini – has a track record in this sense. In his view, the most sobering message from the whole appointment process is that the member states’ leaders will not suffer anyone who might rock the boat and push integration forward. That there will be little movement towards the “ever-closer union” envisioned in the Treaty of Rome might come as a relief for those fearing domination by Brussels (like many in the UK), but it can only dismay those who hope that, despite its sluggish economy and declining population, Europe can become a relevant global actor.
