Social insurance lessons from Germany

Would we really like to end up with an arrangement that puts a massive wedge between people’s gross and net incomes? A system, by the way, that also harms employment outcomes, especially for the most vulnerable? [...]

The end of the Bundesbank era

With Jens Weidmann’s imminent departure, the ECB will lose its most hawkish governor. The move will also symbolise the ECB’s transition into a less stability-oriented institution – right when high inflation expectations in Europe are taking hold. [...]