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Public debt in the Eurozone

By Charles Wyplosz in Economics and Finance, August 1, 2016

The German Council of Economic Advisors recently proposed a mechanism for the orderly restructuring of sovereign debt in the Eurozone. The proposal builds on logical errors and embeds well-established ideas in a setup that suffers from serious limitations.

Istanbul: The City of Four Seasons

By Geoffrey Heptonstall in Travel Writing, July 30, 2016

“Istanbul is a city defined by water because its parts are separated by water. But the Bosporus is not merely a channel: it is a border between continents. If you cross to the Asian side you will not find, as visitors have been known to anticipate, signs of an Asiatic culture. “

Nordic Nations are Leading on Climate Action

By Justin Gerdes in Environment, July 12, 2016

Every country on Earth must choose clean energy and quit carbon if the world is to reach zero net carbon emissions by the end of this century, as outlined in the Paris Agreement.

What sort of crisis is this?

By Will Davies in Politics,

Britain is in a deep crisis, but not a 2008-style emergency. And it reveals much about the underlying forces in our politics.

The Covert Drone War in Yemen

By Radhya al-Mutawakel in Politics,

The United States’ covert drone war in Yemen – at least 15 years old now – continues. European countries are directly and indirectly involved. Yemenis deserve a chance at peace and not the constant fear of death, from the internal conflict or from the skies overhead.

Brexit and the rise of the far right

By John Weeks in Politics, July 10, 2016

On Thursday 23 June 2016 the Far Right achieved its most important victory in British electoral history. John Weeks, Professor Emeritus, School of Oriental and African Studies, University of London looks at what happened.

Germany overhauls its flagship energy policy

By Arne Jungjohann in Environment,

So far citizens, communities and new investors have been the biggest drivers for the energy transition. But large corporations will dominate the market if the changes are implemented.

Yang Jiang, farewell

By Kerry Brown in Features, June 30, 2016

The life of a great writer, translator and intellectual encapsulates the story of modern China. The passing of Yang Jiang at the age of 104 on 26 May 2016 brings to an end one of the very last links with an era of Chinese history that predated the founding of the People’s Republic in 1949.

Negative rates and seigniorage

By Daniel Gros in Economics and Finance,

The business of central banks used to be profitable – they issued cash and could invest the proceeds in the assets they liked. The ECB has turned the old business model of central banks around. Today, it earns a stream of income on its liabilities, while the returns of an increasing part of its assets go to the national central banks.

Camping in Arrivals

By Cecilia Keating in Features, June 3, 2016

Just outside of Athens, the old International Airport of Elliniko and the nearby 2004 Olympic stadiums are now home to thousands of refugees. Cecilia Keating spent two weeks working in the camp with the Dutch NGO Boat Refugee Foundation, entertaining the children and distributing meals to the mainly Afghan population.