Italy's superbonus - introduced in 2020, allowed to get back 110% of the cost of making your homes more energy-efficient via tax credits - was fiscally costly, but increased housing investment (+30%). Still, 🇮🇹construction activity today is lower than 25 yrs ago.

via Max Krahé

Philipp Heimberger Riikka Purra When there is some criticism to austerity in the 🇫🇮 media, the right wing attacks with simple arguments without understanding or confronting the criticism itself.

It has been succesfull tactic and we don’t have that much debate on anything else than details of economic policy.

The interview the Finnish finance minister doesn't like: 'Economist warns Finland of harsh budget cuts. EU countries have shackled themselves with strict fiscal rules. This will dampen investment for decarbonisation and reduce EU's geopolitical relevance'

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I did an interview with the largest Finnish newspaper: 'Economist warns Finland of consequences of harsh budget cuts. EU countries have shackled themselves with strict fiscal rules. This will dampen investment for decarbonisation and reduce EU's relevance in geopolitical context'

Finland's (right-wing) finance minister Riika Purra disapprovingly commented on my interview with largest Finnish newspaper. I might be on to something. Maybe there is too little critical public debate on the effects of fiscal consolidation in Finland? Riikka Purra

Vappuun on hyvä virittäytyä tällä Philipp Heimberger haastattelulla. Parhaita paloja ketjussa.

'viime vuosina yltynyt geopoliittisten jännitteiden kasvu on muuttanut sen, miten eri maiden pitäisi suhtautua talouspolitiikkaansa'

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Wind and solar account for one-quarter of EU electricity for first time

ECB work on macroeconomic implications of EU fiscal rules

adherence to the reformed EU fiscal framework would imply additional fiscal tightening over 2025-26 - which implies downside risks for economic growth.

New research in Nature suggests climate damages will be $38 trillion per year by 2050: 'damages already outweigh the mitigation costs required to limit global warming to 2 °C by sixfold over this near-term time frame and thereafter diverge strongly dependent on emission choices'

Wind and solar account for one-quarter of EU electricity for first time

Public debt ratios in Portugal and Greece have declined at an unprecedented pace from their pandemic peak.

via Daniel Kral

Public debt ratios in Portugal and Greece have declined at an unprecedented pace from their pandemic peak.

via Daniel Kral