Reciprocal sovereignty: A third constitutional tradition for Europe
The central constitutional question for Europe is how sovereign democracies can govern common goods together without creating a sovereign European state. This column proposes reciprocal
Central bank digital currency and monetary sovereignty
Calls for a digital euro increasingly invoke monetary sovereignty, often on the grounds that Europe must retain control over its payment systems. This column argues
The new currency war: The US-China digital rivalry as a test of monetary discipline
Digital currencies pegged to fiat money face a built-in tension between credibility and competition, creating a ‘stablecoin paradox’. This column analyses the competing frameworks of
