Monthly Archives: February 2015

Already 100 days for EU foreign policy under the leadership of Federica Mogherini. What has changed so far?

Infographic source: EEAS,

By Damien Helly

The style of EU Foreign and security policy has already changed: Europe’s face is younger, more energetic, and often appears firmer than it did a year ago. The stronger synergies between development and other external policies are expectedly less visible with a European agenda highly dominated by security crises. Yet the attitude is new: more self-assured and visible than Cathy Ashton, who reportedly hardly ever made public statements without preparation or a spokesperson by her side. Mogherini’s almost relaxed attitude – sometimes using her personal political charisma if not charm – and as her rather tough statements on the need for reforms in Ukraine during her press conference in Kyiv, contrast with her predecessor’s more discreet and measured tone. Mogherini does not hesitate to add a personal touch to her public statements – including on social media -which also seem to become more frequent and more assertive: Europe has found a voice. Continue reading

Did the ECB lower borrowing costs for banks and governments?

WATFE Gibran, 1 February 2015

Last week, the European Central Bank (ECB) announced the launch of a massive program to buy sovereign bonds of euro area member states. Although this decision has already received considerable public attention, it is not the first time that the ECB buys sovereign bonds. What is new is the scale on which the ECB will buy securities. In fact, 60 billion Euro worth of sovereign (public) and covered (private) bonds will be purchased per month between March 2015 and at least until September 2016.

Source: ECB, own calculations

Source: ECB, own calculations

Continue reading