Emissions trading systems (ETSs) have emerged as a pivotal mechanism aimed at fostering carbon mitigation by creating a market for trading emissions allowances and offering
The Credit Suisse crisis in 2023 demonstrated that foreign currency funding vulnerabilities remain material even in advanced, well-regulated financial systems. This column introduces a new
The US dollar’s share of globally allocated foreign exchange reserves has fallen from over 70% in the late 1990s to approximately 58% today (Figure 1).
For years, the European fiscal landscape was characterised by a reliable, if tense, dichotomy: a frugal core led by Germany providing the ‘fiscal space’ that
The dramatic events unfolding globally—from wars and geopolitical upheavals to trade disruptions—have caught Europe unprepared. The Florence 2026 Report urges the EU to replace its
A growing debate has emerged over whether China risks repeating elements of Japan’s post-real estate bubble stagnation of the 1990s. This column compares China’s current
The conflict in the Middle East has pushed energy prices sharply higher, but the implications for UK inflation will depend on the shock’s scale, duration,
European industry is navigating a global economy where the notion of a fair playing field is increasingly out of reach, driven by aggressive industrial strategies