A tragedy is unfolding in Sri Lanka. Citizens must queue for food and pharmaceuticals, vehicle owners cannot fill their tanks, and there have been rolling power outages
Monetary-policy tightening is coming to Europe. Following in the footsteps of the US Federal Reserve and others, the European Central Bank has announced that it will discontinue its asset-purchase program and raise interest rates this month, in a bid to rein in inflation. But, unless the authorities address the differential effect this has on member states’ financial conditions, the eurozone will experience both a recession and a financial crisis
Despite the well-known problems with using gross domestic product as an indicator of human development, policymakers around the world still seem to be obsessed with it
Inflation has become a hot-button political issue worldwide. In the United States, the consumer price index increased at an annual rate of 8.6% in May, and EU inflation is not far behind. The root cause of the problem is that too much money is chasing too few goods
In February 2020, the European Commission announced that it would present a plan for reforming the eurozone’s economic governance, including the rules for public debt
The World Economic Forum’s first meeting in more than two years was markedly different from the many previous Davos conferences that I have attended since 1995