Key Takeaways The Eurodollar system remains a predominantly private, offshore network of dollar credit, but it can no longer be understood as wholly beyond the reach of the Federal Reserve. Since 2008, dollar shortages in that system have repeatedly drawn the Fed into the role of ultimate crisis backstop. Federal Reserve swap lines are the...Read More

This article concentrates on an analysis of the UK monetary policy operated by the Bank of England in attempting to control inflation, though some of the points made may have wider validity to other central banks. The essay develops its argumentation along five broad themes across five main sections. The first section looks at some...Read More

Baker had asked Gorbachev “whether he would prefer a united Germany outside of NATO, independent and without any American troops, or whether Germany should remain part of NATO, with the assurance that NATO jurisdiction would not move one inch eastwards from its present position. Gorbachev answered that “any extension of NATO’s area would be unacceptable....Read More

The most recent India-EU summits, held on 15 July 2020 and 8 May 2021, significantly enhanced the strategic dimension of the bilateral relationship. India was one of the first countries to establish diplomatic relations with the European Union when representatives of the then EEC met with several Indian diplomats based in Europe in 1961. But...Read More

The new threat of war over Ukraine resulting from the Russian demands of December 2021 should focus the minds of U.S. and European policymakers on the unsolved dispute that is responsible for much of the tension between Russia and Ukraine, and that provides the most likely flashpoint for war. The Donbas conflict, which has cost...Read More

In January 2020, Christine Lagarde announced that the ECB would be conducting a year-long review process of its monetary policy and remit. Much has happened since its last review in 2004, and GPI has responded to Lagarde’s ambitious agenda. The report reviews the development of ECB monetary policy over the past 30 years and concludes...Read More

During the Cold-War years, Europe and India engaged with the Soviet Union at very different levels. On many occasions they found themselves supporting the opposite side. Western Europe was part of the American led western alliance. India, however, had very close strategic and economic ties with the USSR, which were institutionalised through the 1971 Indo-Soviet...Read More

Both the EU and India are viewed very favorably in Central Asia. As the region is now stabilizing, integrating and slowly opening to the outside world, it provides tremendous opportunities for the EU and India to increase their engagement further, both individually and possibly also jointly. This paper highlights the respective European and Indian strategies...Read More

In this paper, we assess the relation between immigration and unemployment for a sample of 15 EU countries between 1997 and 2016. We estimate separate effects for Northern and Southern Countries based on the differences between the two groups in terms of skill intensity and flexibility of labour market adjustments. We use a panel Error...Read More

It is becoming clear that China’s ambitious Belt & Road Initiative (BRI) linking Asia and Africa with Europe through a network of various transportation corridors could fundamentally reshape the geo-economics and geopolitics of the whole Eurasian region and beyond. As the initiative has huge implications for the EU and India; the paper has captured evolving...Read More