Why a collapse of the Eurozone must be avoided

Anders Aslund tries to find a ‘middle way’ between Sinn and Whelan on Target2 imbalances in this VOX article.

The use of the Eurosystem’s monetary policy instruments and operational framework since 2009

The ECB has released a new occasional paper on these topics – available here.

Call for Papers: Central Bank Conference “How to fix distressed property markets?”

Details here.

Economic Letters from Central Bank

Economic Letter – Vol 2012, No. 7
Fiscal Consolidation – Does it deliver? – Laura Weymes

Economic Letter – Vol 2012, No. 6
Housing equity withdrawal in Ireland: 2000 – 2011 – Reamonn Lydon & Niall O’Hanlon

Rajoy must enact a radical plan for Spain

Jesus Fernandez-Villaverde and Luis Garicano lay out the necessary steps in this FT op-ed.