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
The US–Iran relationship appears to be at its lowest point in decades. Following the intense strikes launched on 28 February 2026, the assassination of Supreme
Macroprudential capital buffers are designed to make banking systems safer. This column shows that, at the bank–firm level, they do. But multinational firms respond: when