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. Opportunity Credit to Safeguard the Future June 23, ZEIT ONLINE Policy makers must react by fundamentally rethinking social policy with the aim of improving people’s economic, social, and political participation, thereby affording them new opportunities. Statement on the ECB council meeting (June 8, 2017) June 8The ECB has now cautiously started its monetary policy reversal, even if only through words rather than deeds. The change in communication is an important step in the right direction. Equality and Taxes in Germany May 26, ZEIT ONLINEThe German tax system is based on the principle of capability. People with high earned and capital incomes should convert a higher proportion of their income into government tax revenues. In general, taxes should be progressive. This means the tax rate should rise as income rises. The Shrinkage in Earned Income May 12, ZEIT ONLINEThe International Monetary Fund (IMF) has attracted attention with its most recent World Economic Outlook. The report shows that the global workforce is receiving a decreasing proportion of economic output, whereas owners of capital are claiming a larger piece of the pie for themselves.