European Central Bank

Commentators have hailed Portugal’s politics as an “exception” in Europe. In Lisbon, a socialist party presides over a healthy economy while far-right and populist-right parties lack significant support. The pandemic, however, is challenging that status quo – increasingly statist solutions from the government are holding back growth, while right-wing parties ...

In Western democracies, leaders have given up on promoting the common good and would rather chase supporters by paying lip service to utopian goals. As a result, voters are feeling increasingly alienated and distrustful, turning toward conspiracy theories. To regain the trust of citizens, elites will need to abandon the ...

The Covid-19 pandemic has capped a decade of economic crises that the European Central Bank has had to deal with. The bank’s tools to keep countries’ finances afloat and investors’ confidence solid have been unprecedented. Weaning them off low interest rates, financial injections and high debt will be its next ...

Europe is responding to the Covid-19 crisis with gigantic spending programs meant to shore up struggling economies. While financial support makes sense, the EU's history of doling out funds shows these initiatives often lead to fraud, corruption and market distortion. Recent reforms may not be enough to prevent a repeat ...