Why ECB should not dilute a QE programme

My plea would be to start with a big figure now. Size matters

Eurozone must act before deflation grips

A helicopter drop would work — but I fear it would be too unconventional for the European mind

©Michael Debets/Getty

Extremists may be eurozone’s saviours

The probability of at least one political upset in 2015 is very high indeed

Smart wrapping disguises policy in Europe

A delayed but well-aimed monetary stimulus blast is better than a premature sputter from cannons

Topsy-turvy EU world of power politics

The higher up the political food chain you rise, the smaller the sums you are allowed to talk about

The ECB, demigods and eurozone QE

The question is no longer whether it will happen but how it will work

Juncker fund will not revive the eurozone

I have no problems with structural finance if applied to a social purpose. My objections are practical

Radical left is right about Europe’s debt

It is logically inconsistent for the eurozone to enter secular stagnation and not restructure

Economics of Germany’s parallel universe

The Council of Economic Experts says nothing about investment. It wants Merkel to be tougher

The euro is in greater peril than ever

The eurozone has no mechanism to defend itself against a drawn-out depression

Eurozone stagnation is a greater threat than debt

Monetary policy can boost markets in the shortrun, but this cannot be sustained indefinitely

Germany’s weak point is exports reliance

Wherever stimulus comes from, it will not be from Europe’s powerhouse

Europe’s recovery is in danger of being a dream

A euro devaluation would have to be extreme to have a big impact on, say, Italian exporters

Germany’s eurosceptics plant turmoil

The AfD only needs to create doubt to upset economic equilibrium

Italy debt is a problem for us all

We need extreme and co-ordinated policy to make it possible for Italy to ultimately stay in the eurozone

Divisions behind declining EU influence

The eurozone has been running on luck – a commodity that tends not to last

What Draghi must do next to fix Europe

Eurozone policy makers and their economic advisers are structuralists by inclination

An astute move but not the Big One

ECB’s plan to buy private-sector assets is not nearly enough to lift it out of its misery, writes Wolfgang Münchau

Renzi’s lack of focus threatens his political promise

The savings the Italian leader identified should go into public investments

Draghi has few legal ways to fix the euro

The ECB has signalled that it is safe to bet against the inflation target


Wolfgang Münchau Wolfgang Münchau is an associate editor of the Financial Times, where he writes a weekly column about the European Union and the European economy. Before taking up this position in September 2003, he was co-editor of Financial Times Deutschland for two years.

Before joining FT Deutschland, Mr Münchau was a Frankfurt correspondent and later economics correspondent of the Financial Times, reporting on the preparation for the final stage of monetary union and the launch of the euro.

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