Articles by Miguel Navascués

About the Author

Miguel Navascués
Miguel Navascués has worked as an economist at the Bank of Spain for 30 years, and focuses on international and monetary economics. He blogs in Spanish at: http://

Mario Draghi, the Exterminator

MADRID | By Luis Arroyo | Why is the ECB not announcing further interventions, helping investor confidence to recover, offering strangled banks liquidity until they start providing credit again?

The austerity breakdown

MADRID | By Luis Arroyo | It is a grave mistake to stubbornly defend the application of the same strict rules whether the economy is growing or in recession, and social unrest and missed fiscal targets are testament to how wrong the current European policies are.

The impossible European deleverage

MADRID | The eurozone’s central bank should have acted as a last resort lender years ago, so peripheral economies would not have had to endure the punishment of excessive prices on market credit.