The risks of blind fiscal expansion to generate growth are too great. The priority should fall upon fiscal consolidation and improving the quality of public finances instead.
Latest articles from Western Europe
There is cautious optimism that Greece's economy will return to growth in 2017, though much could happen over the next 12 months to quell these hopes. However, as Stefanie Linhardt reports, great importance is being attached to the country being given access to the ECB's quantitative easing programme.
Risk-averse institutional investors have historically shied away from large-scale infrastructure investments in emerging markets, but new collaborations with multilateral institutions are now tempting public and private institutions into such projects. Stefania Palma reports.
With deposits in Greek banks down substantially and unlikely to return soon, a top priority is to reduce the country’s non-performing loan burden, writes Stefanie Linhardt.
As Greece works towards moving out of recession, the removal of capital controls are essential. But there should be strict conditions before this happens, warn Nikolaos I Georgikopoulos and Michael L Pinedo.
Has the global harmonisation of banking regulation led to an overly universal approach? International and EU policy-makers should consider introducing less complex regulations for small, low-risk institutions.
The UK has one of the world’s most sophisticated banking markets, but when it comes to serving vulnerable and low-income people, it has yet to find the right formula. Silvia Pavoni looks at what it means to be financially excluded in the country, and whether banks are close to finding the solution.
The new accounting standard IFRS-9 will have a dramatic impact on how banks provision for credit losses, leading the Basel Committee on Banking Supervision to consult on how to manage its effect on capital requirements. Justin Pugsley reports.
Implementing digitalisation and other solutions in wealth management requires an underlying industrialisation approach to be put in place first if significant efficiency gains and higher margins are to be achieved, write Kristof Trautwein and Pascal Gantenbein.