Is Germany Catching Trump’s Tax Disease? January 26 The fiscal policies proposed by Germany’s emerging grand coalition government look very American. Like the US Republicans' recent tax legislation, they are likely to bring limited short-term benefits to a few and huge long-term costs to many more. Comment on the latest ECB council meeting (January, 25) January 25 The ECB has to strike a delicate balance between preparing markets for an exit from QE. Franco-German proposal for a reform of the European monetary union June 17 Building a euro area with more risk-sharing and more discipline Comment on the latest ECB council meeting December 14 The ECB is acting wisely by resisting pressure for a faster exit from QE. The ECB can only tighten its monetary policy gradually October 26The ECB has chosen a gradual and cautious exit from its expansionary monetary policy stance. Op-ed of Franco-German Economist Group on EMU reforms 27. SeptemberAgnès Bénassy-Quéré, Markus Brunnermeier, Henrik Enderlein, Emmanuel Farhi, Lars P. Feld, Marcel Fratzscher, Clemens Fuest, Pierre-Olivier Gourinchas, Philippe Martin, Jean Pisani-Ferry, Hélène Rey, Isabel Schnabel, Nicolas Véron, Beatrice Weder di Mauro und Jeromin Zettelmeyer Statement on the lawsuit against ECB QE program August 15The decision of the German constitutional court concerning the lawsuit against ECB QE program is a false compromise. Why a Franco-German bargain will help secure the euro August 9, Financial TimesThe gains would outweigh the costs and help chart a path for the continent’s future Statement on ECB interest rate decision July 20The ECB keeps its options open about the exit of its expansionary monetary policy stance. Helmut Kohl Was Right June 28, WALLSTREET JOURNALEconomists criticize his decisions on German reunification and the euro, but he understood better the relationship between politics and economics.