Calculating the Structural Fiscal Balance

The WSJ reports on moves to reform the EU’s method for calculating the output gap and the structural fiscal balance  – here.

Property Tax

The Economist has an interesting article on the varying implementation of property taxes across countries – it is here.

Expert Group on debt redemption fund and eurobills

The European Commission has set up this group – details here.

John Lanchester on banks in the LRB

There is nothing new in this, but the number of shady episodes that Lanchester reminds us of, and the quality of his writing, makes it well worth a read.

Vitor Gaspar resigns

FT report here.