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Macroeconomics is in decline - both as an academic discipline, and as a power behind political decisions.

22 January 2023

The golden age macroeconomics has ended

Germany's economic policy of the last decade holds an important lesson: that the unsustainable does not become sustainable all by itself

16 January 2023

A German cautionary tale for Britain

Rejoin should not start where Remain stopped. Here is my advice on how to get a new campaign started.

11 December 2022

How to rejoin the EU

About cognitive biases and fallacies and how to fight them

04 December 2022

Do we fear that Musk fails? Or that he succeeds?

The EU is confused about strategic autonomy, because the concept is alien to its political culture. Here is what it would take

27 November 2022

Strategic autonomy, how it's done

Liz Truss and Kwasi Kwarteng went overboard in ignoring the markets, but doing the very opposite is the bigger error.

20 November 2022

Austerity is back

Crypto 1.0 has burst, but don't draw the wrong conclusions.

13 November 2022

Now what?

Olaf Scholz' visit to China is most notable for its desperation - the attempt to cling on to an industrial past

06 November 2022

Is this a man you can trust?

Western proxy wars against Russia and China and the war to limit greenhouse gas emissions cannot be all be won simultaneously.

30 October 2022

A battle won, a war lost

The US, China, Germany, the UK and Russia have one thing in common: they all need a new economic model.

23 October 2022

When the unsustainable ends

The Tories have a lost more than their credibility. They may have lost Brexit.

15 October 2022

The next U-turn

Vladimir Putin is more likely to hit a nuclear power station or trigger a dirty bomb than a order the use of a tactical nuclear weapon.

09 October 2022

What if this happens?

The biggest danger to European integration are old stories we believe in and that do not stand the test of time.

02 October 2022

Euro tales we tell each other

It is not possible to assess the probability of a nuclear war, based on the information we have now.

25 September 2022

What are the odds?

The bigger danger is not what Giorgia Meloni will do to the EU, but what the EU will do to her.

18 September 2022

What to worry about and what not

One of the future power configurations in German politics, the Jamaica Coalition, is no longer feasible.

11 September 2022

Scholz did something clever

Europe maybe at the beginning of an unusually severe recession, one that won't auto-reverse

04 September 2022

The trend is a curve, not a line

In truth, the euro area's sovereign debt crisis never ended. We just chose to look the other way.

16 July 2022

Return of the euro crisis

Boris Johnson's departure is ultimately about Brexit, but this will not become clear for a while.

10 July 2022

When Boris goes...

Germany is fretting about a cold winter as Vladimir Putin may be about to unleash his strongest weapon yet.

26 June 2022

Goodbye Gazprom