Wolfgang Münchau

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Full name: Wolfgang Munchau

Area of interest: European Union, European economy

Journals/Organisation: Financial Times

Email: Wolfgang.Münchau@ft.com

Personal website:

Website: http://www.ft.com/comment/columnists/wolfgangmunchau



Networks: https://twitter.com/#!/EuroBriefing


About: http://www.oenb.at/de/img/ok_munchau_1_seite_tcm14-193032.pdf

Education: City University: International Journalism MA; Reutlingen: Diplom-Betriebswirt

Career: The Times: roles including Washington and Brussels correspondent, 1988/95; Financial Times: Frankfurt correspondent, economics correspondent (reported on the preparation for the final stage of monetary union and the launch of the Euro), co-editor of Financial Times Deutschland; FT Associate Editor, 2003-

Current position/role: Associate Editor, European economic columnist

Other position/role:

Other activities:



Broadcast media:



Awards/Honours: Wincott Young Financial Journalist of the Year 1989



Books & Debate:

Wolfgang Munchau Germany and Britain an alliance of necessity.jpg

Latest work:

Speaking/Appearances: http://www.specialistspeakers.com/?p=1070 | [http://www.rsa.org.uk/events/speakerCloseUp.asp?speakerID=1313 RSA Lectures, 2006

Current debate:

Financial Times:

Column name:

Remit/Info: European Union, European economy

Section: Comment

Role: Commentator, FT Associate Editor


Email: munchau@eurointelligence.com

Website: FT.Com / Wolfgang Munchau

Commissioning editor:

Day published: Monday

Regularity: Weekly

Column format:

Average length: 850 words

Articles: 2017

Articles: 2016

Articles: 2015

Articles: 2014

Articles: 2013

Articles: 2012

Articles: 2011

Articles: 2010

Articles: 2009

Articles: 2008

  • World Economy in 2009: Three priorities for recovery - Policymakers will have to smarten up, work together and start thinking outside the box ito combat the 2009 global recession - 29th December 2008
  • Following the Fed cannot save the world - Instead of propping up each bank, and swamping the market with cash, we need to restructure and shrink the banking system - 22nd December 2008
  • Complacency rules as time slips away - We have already failed to avoid 1929. The best we can do is to avoid 1930, 1931 and 1932. It will depend on the policy response - 15th December 2008
  • No need to panic – we can beat deflation - There is a lot banks can do. For starters, they can drive through the zero boundary and impose negative interest rates - 8th December 2008
  • German complacency poses a serious threat - Looking at the financial crisis from Berlin, you could easily delude yourself into thinking this is someone else’s problem - 1st December 2008
  • Double jeopardy for financial policymakers - Bernanke has already deployed his weapon of mass desperation while still some distance away from a zero interest rate - 24th November 2008
  • Why the British may decide to love the euro - The facts have changed and the world’s two large reserve currencies, the dollar and the euro, offer more protection from speculative attack than a free-floating offshore currency unit - 17th November 2008
  • Fiscal policy is our most potent instrument - Monetary policy is playing little more than a supporting role in this economic crisis. It is fiscal policy which will count - 10th November 2008
  • Now they see the benefits of the eurozone - In good times, few people care about its offer of a joint policy framework and protection from speculative attacks. These are not good times - 3rd November 2008
  • Sarkozy’s attempted EU coup fails – for now - German officials have developed a habit of reacting negatively in anticipation of what the French might propose - 29th October 2008
  • Crisis needs more than one shot - Targeted recapitalisation, money market insurance and a stimulus package are all needed as part of a comprehensive strategy - 20th October 2008
  • Brown offers Europe a lesson in leadership - The good news is that governments are at last abandoning an ad hoc approach in favour of a systematic response - 13th October 2008
  • The case for a European bank rescue plan - A systemic banking crisis is one of the few conceivable shocks that could destroy Europe’s monetary union - 6th October 2008
  • Paulson’s problem presents lessons - While the US needs a better rescue plan, Europe needs a system that could produce a rescue plan in the first place - 29th September 2008
  • Defaults will test a fair-weather construction - The future of the global financial sector depends to an uncomfortable extent on speculative insurance market - 22nd September 2008
  • Sarkozy’s economic reform has come unstuck - You cannot lead the eurozone and break its most important rules. France has manoeuvred itself into a corner - 15th September 2008
  • How a downturn could turn into a disaster - Recent research suggests global investors might be inclined to switch out of dollars much faster than some people believe - 8th September 2008
  • Now is the wrong time to demand a rate cut - The ECB should treat a temporary fall in headline inflation just as it treated the temporary rise last year. It should ignore it - 1st September 2008
  • Sarkozy needs a more subtle approach - The ECB is right not to identify individual views. This may be the most destructive advice one could give right now - 28th July 2008
  • Eurogroup must shed complacency - The shocks that face Spain and Ireland will test the see-no-evil-hear-no-evil approach to governance - 21st July 2008
  • The wrong tools to tackle rising inflation - I remember a popular sticker in Germany during the 1970s, designed to ridicule the opponents of atomic energy. It read: “Nuclear power? No thanks! We get electricity from our power sockets.” - 14th July 2008
  • Recession is not the worst possible outcome - If this had been a mere financial crisis, it would be over by now. The fact that we are suffering its fourth wave tells us there might be something at work other than merely financial euphoria and bad regulation - 7th July 2008
  • The options for a Europe without a script - Simply to continue with Nice is out of the question. The negotiation of yet another treaty is not going to happen either - 30th June 2008
  • Ireland is wrong to put its miracle at risk - After a week of what European leaders call reflection, another Irish referendum beckons, to be held early next year. Without it, there might well be an attempt to oust the Irish from the European Union - 23rd June 2008
  • Europe's plan B for the Lisbon treaty - What is going to happen now after the Irish No vote? I would expect the European Union to find a way to implement the Lisbon treaty, leaving Ireland potentially isolated within the EU - 16th June 2008
  • Trichet justified in diverging from the Fed - In terms of global monetary policy, we are in the middle of a shift from a unipolar to a bipolar world - 9th June 2008
  • Berlin should take note of French reforms - President Nicolas Sarkozy made an important announcement in Warsaw last week. From July, the Polish plumber and other citizens of the 2004 accession countries to the European Union will be able to work freely in France... – 2nd June 2008
  • Inflation and the lessons of the 1970's - Inflation is rising and it seems the world’s central banks have critically misjudged the situation. Until a few months ago, most commentators worried about a repeat of the Great Depression. But the 1930s have virtually no relevance to our situation - 26th May 2008
  • The global euro needs a stronger apparatus - It happened to François Mitterrand in the run-up to the Maastricht Treaty on the European Union. It happened to Jacques Chirac a few years later and now it is happening to Nicolas Sarkozy. Successive French presidents have tried but failed to give the eurozone a layer of gouvernance économique beyond the present institutional setting - 12th May 2008
  • Italy needs to focus on its productivity growth - Over the years, I have observed this about the political economy of economic reform in Europe: there is an inverse relationship between the number of objectives and measures of a reform agenda and its ultimate success - 5th May 2008
  • Global adjustment will be long and painful - So this crisis is about to end, right? There are two failsafe ways to justify a solid dose of optimism: define the crisis in a sufficiently narrow way; and, even better, look at the wrong crisis. In that spirit I am happy to state my optimism about the prospective end of the subprime crisis - 28th April 2008
  • The princess’s cake gets an added crunch - “I remembered the way out suggested by a great princess when told that the peasants had no bread: ‘Well, let them eat cake.’” - 21st April 2008
  • Pessimism about the eurozone is misplaced - I am puzzled by the International Monetary Fund’s latest growth projections for the eurozone - 13th April 2008
  • Central banks must care about house prices - The International Monetary Fund last week gave central banks some wicked advice*. They should no longer ignore residential property prices when setting interest rates - 7th April 2008
  • Do not be alarmed by Icelandic whispers - Vicious rumours recently almost drove a British bank off a cliff. Could that happen to a country? - 30th March 2008
  • This crisis could bring the euro centre-stage - We know the credit crisis is a clear and present threat to the global economy. But its most important long-run legacy may not be economic, but geopolitical - 24th March 2008
  • Sarkozy’s reforms must reach beyond taxi licences - With the local elections now behind him, President Nicolas Sarkozy of France has an opportunity to relaunch his faltering reform agenda. It is impossible to underestimate the significance of such an effort, or its failure, to the Sarkozy presidency and the future of the French economy - 17th March 2008
  • Central bankers cannot stop this contagion - Since the start of the global financial crisis last August, monetary policy has been remarkably ineffective - 10th March 2008
  • A crisis in store for Spain’s election victor - The Spanish election this Sunday is too close to call. What is certain, however, is that the winner will spend the next four years cleaning up an economic mess of a scale not witnessed in Spain in modern times - 3rd March 2008
  • Britain can no longer depend on being cool - In the next few years, I expect the UK economic miracle to be exposed for what it was: an overlong joyride on the back of an overlong asset price bubble - 25th February 2008
  • Two nails in the coffin of German corporatism - It was always clear that German corporatism would not survive the first half of the 21st century. What was less clear was how long this process would last and which form its destruction would take - 18th February 2008
  • A repeat of the Great Depression is unlikely - How big is the risk of global deflation? Five years ago, central banks led by the US Federal Reserve fretted and cut short-term interest rates aggressively. This time the Fed is largely alone in seeking insurance against the possibility of a deflationary depression - 11th February 2008
  • Italy’s crisis offers a chance for change - Lasciate ogni speranza ch’entrate (Abandon all hope, ye who enter here) Dante, Inferno, Canto III. Dante’s hell is generally a good description of Italian politics - 4th February 2008
  • Expect the eurozone to show some resistance - Within minutes of last week’s rate cut by the Federal Reserve , market analysts predicted that the European Central Bank would have to do the same. When the US sneezes – you know the rest - 28th January 2008
  • America’s recession will be hard to shift - Monetary policy affects the economy with long and variable lags. This much we know. How long depends on the state of the economy in question - 21st January 2008
  • This is not merely a subprime crisis - If this had been a mere subprime crisis, it would now be over. But it is not, and nor will it be over soon - 14th January 2008
  • The credit revolution looks to the long-term - Over the past 20 years, the world economy has experienced two revolutions both of which gave rise to asset price bubbles. One was the rise of modern information technology. The other was the credit revolution – the inexorable rise of modern credit markets - 7th January 2008

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