All roads lead to Frankfurt: the results of an enigmatic summit
Emmanouilidis, Janis. The 8-9 December European Council was not the ‘major breakthrough’ many had hoped for in the run-up to this crunch meeting of EU leaders: it is not likely to go down in history as the meeting which turned the tide, and the EU is destined to remain in ‘crisis mode’ for some time […]
Rating agencies and sovereign credit risk assessmen
Véron, Nicolas, Wolff, Gunstram. Credit rating agencies (CRAs) have not consistently met the expectations placed on them by investors and policymakers. It is difficult, however, to improve the quality of ratings through regulatory initiatives. In the short term, changes to the CRAs’ regulatory environment, in a context of high market uncertainty, may add to market […]
China’s dominance hypothesis and the emergence of a tripolar global currency system
Fratzscher, Marcel, Mehl, Arnaud. Is the international monetary system tripolar – with the US dollar, the euro, and the Chinese renminbi at each corner? This column presents empirical evidence to suggest that the renminbi is already well on its way to being the dominant currency in Asia. Πηγή: Voxeu πλήρες κείμενο