Emiliano Brancaccio

Ricerca, didattica e divulgazione
Research, teaching and media

Brancaccio and Gallegati in the Financial Times: “At the first signs of speculative pressure, apply Article 65 of the EU Treaty for introducing immediate capital controls”

MARKETS DO NOT COUNT MORE THAN DEMOCRACY

Financial Times, 5 June 2018

by Emiliano Brancaccio (Sannio University, Italy) and Mauro Gallegati (Marche Polytechnic University, Italy)

The political crisis in Italy has reopened the Pandora’s box of eurozone instability and brought to the fore the unresolved problems that we and many others had already highlighted in the Economists’ Warning (FT September 23, 2013). We have always considered the rise of reactionary, ultranationalist and xenophobic political parties in Europe to be disastrous. But an equally great danger is that voters have the feeling that their choices count less than the bets of financial market players. In order to alleviate this risk it is necessary to take all the available measures of “financial repression” to reduce the interference of market volatility on future political decisions on the single currency […]

Read the full letter here

 

In italiano, si veda anche l’intervista a Emiliano Brancaccio su Micromega del 30 maggio 2018: “Applicare subito l’art. 65 del Trattato sul funzionamento dell’UE per il controllo dei movimenti di capitale”.

Traduction en Francais de l’entretien à Emiliano Brancaccio: “Voici comment bloquer le spread et l’attaque des marchés (Mediapart, 2 Juin 2018)