In her speech today in Florence, Theresa May must set out an uplifting vision of a UK with a global role, writes Gerard Lyons. Brexit means the UK will leave both the single market and customs union – a 'clean Brexit' – and will increase the UK’s ability to tap opportunities in the rest of the world economy.
Angela Merkel looks likely to be dubbed the 'Queen of Europe' after Sunday’s German elections, yet her crown will sit uneasily, writes David Marsh. Merkel's reduced manoeuvring room in parliamentary coalition-building and waning hold on power have big implications for the ECB's quantitative easing programme.
Merkel's coalition between the CDU and CSU has 'run its course', according to Prof. Volker Wieland of the German Council of Economic Experts, speaking in OMFIF's latest podcast on the expected result of this Sunday's German elections and the difficulties the chancellor will face in forming a new partnership.
In her speech this Friday in Florence, Theresa May should try to make some sense of the mess which her Conservative party has so far made of Brexit, writes Antonio Armellini in Rome. The EU27 are perplexed, but are equally confident that this is ultimately a British problem, not theirs.
Carl-Ludwig Thiele, member of the German Bundesbank executive board, spoke on cryptocurrencies and central bank-issued digital currencies at an OMFIF roundtable. Thiele said private digital currencies lack trust, have no intrinsic value, and that their governance structure is opaque, making them infeasible.
NEWS: Relocation without transition would damage liquidity
Verena Ross, executive director of the ESMA, spoke at an OMFIF roundtable about the need to prevent markets in both the UK and Europe from 'drying up' during the Brexit process. She highlighted the importance of stress-testing asset managers as capital markets gain a greater share of Europe's financing landscape.
NEWS: Restructure capital markets to escape debt trap
Charles Goodhart of the LSE presented a framework for debt resolution at an OMFIF roundtable, ranging from monetising debt to shifting resources from debtors to creditors through taxation. He emphasised the importance of shifting incentives from debt to equity instruments as a way to mitigate debt build-ups.
Disorder in the British government is turning the crucial issue of Brexit into a forum for domestic party politics, writes Joergen Oerstroem Moeller. Prime Minister Theresa May will need statecraft she has not yet shown to survive a parliamentary debate holding her to account over what has happened so far.