RaboResearch - Economic Research

Economic Report

Germany: Merkel’s sports minister causes trouble

The German CSU was to propose a plan to turn away migrants at the border who had registered elsewhere in the EU, prompting a veto from Merkel and leading to a showdown. The current deal provides Merkel with a two-week deadline to try to find (bilateral) deals in Europe.

Economic Report

Swiss say Nein to Vollgeld

The idea underlying Vollgeld is that of full-reserve banking from the 1930’s. In today’s context its side-effects would likely lead to instability and a deflationary tendency. In the Swiss case, uncertainty would have prevailed in the short-term, followed by a further appreciating Swiss Franc.