Björn Bremer

Nota: Este archivo abarca los artículos publicados por el autor desde el 1 de julio de 2007. Para fechas anteriores realice una búsqueda entrecomillando su nombre.

How likely are Germans to favor Italy’s euro-zone membership? This figure shows the support of German voters for Italy’s euro-zone membership according to our April 2020 survey of 4,500 respondents. Fifty-one percent favor Italy remaining in the euro zone, while 30 percent are opposed when they receive all information (left panel). When forced to choose between Italexit and debt mutualization, only 35 percent would choose Italexit, while 48 would chose shared debts (right panel). Source: Max Planck Institute for the Study of Societies, Italexit survey April 2020.

The covid-19 pandemic is plausibly the biggest challenge to Europe’s economies since the Great Depression. The coronavirus is hurting all European countries at the same time — but with differing economic fallout. Countries such as Germany and the Netherlands can easily borrow money to respond to the crash.

But countries like Italy and Spain fear that their bond yields — the price they pay to borrow money — will spike if they increase their public debt.

Are common European bonds a possible solution? Some countries and economists have called for this response. Such suggestions have always failed in the past, because of perceived public opposition in northern countries like Germany and the Netherlands.…  Seguir leyendo »