It is now proverbial that the coronavirus recession was better managed from the point of view of macroeconomics than the previous major crisis in Europe: that of the eurozone. Austerity has been by and large avoided, and social cohesion has been better preserved through solidarity at all levels. Where the distinction has to be particularly […]
Against the background of rising fuel and energy prices, a post-pandemic era and a new reality of geopolitical turmoil, the Maltese Labour government continues to demonstrate that austerity is not the answer to a crisis. Over the past two years, it focused on the well-being of its people, with a strong health and welfare system, […]
Europe would never again be the same. The Maastricht Treaty was a watershed event that transformed the lives for 500 million people. Signed thirty years ago, on 7 February 1992, by 12 member states, it opened the doors for enlarging the Union to 27 countries. It has created more economic stability, but left the system […]
In January, consumer prices increased by 5.1 per cent in the Eurozone compared to a year ago, setting a record-high since the single currency was created more than two decades ago. Still, the European Central Bank (ECB) forecasts that the inflation rate in the Eurozone will stabilise and gradually decline over the course of this […]
A ‘golden rule’ of exempting certain types of social spending from the Eurozone fiscal rule book for about a decade would allow to invest in human capital, skills and health.
Gaining competitiveness should rather be done by increasing quality than by lowering production costs.