The main good news story in Ireland is that Shamrock Rovers have qualified for the group stages of the Europa League (the first time an Irish club has done so since the mid 1960s). This means a large cash windfall for the club. There is a large economics and political science literature documenting how windfalls can leave recipients worse off due to adverse changes in behaviour – the club faces an institutional/organisational challenge to make sure it is ‘Norwegian’ in its husbanding of the windfall.
Author: Philip Lane
John Kay joins the debate on the state of macroeconomics in this FT Analysis article.
So argues Daniel Gros in this VOXEU article.
Spain joins the ranks of countries that are intent on having constitutional-level fiscal rules: the FT article is here.
This new ECB legal paper looks at the problems in making financial regulators accountable.