Inflation peaks and monetary policy options
History has shown that inflation is the most perfidious economic threat to the well-being of nations, with far-reaching redistributive effects in the social and economic structure, by altering the rationality of economic calculation and via increased inequalities and unfulfilled expectations. Those who have accumulated savings,
CEE Annual Payments Forum – Resilience and Financial Sustainability
I had the pleasure of opening the fourth Central and Eastern European Annual Payments Forum, hosted by the National Bank of Romania. Payments are not merely a technical issue; they are at the heart of economic life. An efficient and secure payments system fosters trust, supports business dynamism, SMEs and enhances competitiveness.
New Technology for Old Markets – Chișinău International Conference
I was delighted to participate in Chișinău, together with Anca Dragu – Governor of the National Bank of Moldova, François Villeroy de Galhau – Governor of the National Bank of France, Jasmina Selimović – Governor of Central Bank of Bosnia, and many central bankers, experts, researchers and financial sector representatives, at the first
Budget consolidation – between urgency and gradual adjustment
The rating agencies have recently confirmed that Romania managed to avoid a downgrading of the sovereign rating to “junk” thanks to the newly adopted fiscal and budgetary measures. Such a rating would have had a severe negative impact on the country’s development prospects, while Romania needs, besides healthier public finances,
Institutional Economics (Once Again) in the Spotlight of the Nobel Prizes
This year’s laureates of the Nobel Prize for Economics are Daron Acemoglu, Simon Johnson and James Robinson, three authors renowned for their studies on institutions and the impact of institutional factors on economic prosperity. Their most representative work is Why Nations Fail: The Origins of Power, Prosperity, and Poverty (2012), which
