Antoine de Cabanes

📢 With @tomduterme.bsky.social & Ariane Gemander, we’re pleased to invite you to the 6th workshop of the Belgian Political Economy Working Group on Friday, June 19, 2026, at ICHEC Brussels.

📆 Abstract proposals due by April 10 -- Email us.

Now is the time for Eurobonds: A specific proposal Given the new geopolitical environment, there is wide agreement that Europe needs to achieve strategic autonomy. Autonomy has many dimensions. The most obvious today is military autonomy, building a s...

Sans ce caveat, il aurait sûrement été déchu de sa nationalité allemande 😅

Blagues à part, certains ont déjà fait des propositions pour accroître le stock d'EU bonds sans augmenter le volume total d dette publique, mais la Buba s'y était tjrs vigoureusement opposée

www.piie.com/blogs/realti...

Bundesbank boss: New reality calls for more EU debt Joachim Nagel’s shift on eurobonds reflects today’s “different reality,” he told POLITICO.

This is the real Zeitenwende : the head of the #Bundesbank breaks with a decades-long tradition of central bank fiscal orthodoxy and uncompromising opposition to EU debt mutualisation through common borrowing

A whole world of Eurozone analytical frameworks have just been turned upside down ...

That's right, the finance summer school is coming to Europe! June 4-5 at the LSE – applications are open until March 1.

Otmar Issing, Axel Weber and Jürgen Stark approve this message :p

Bundesbank boss: New reality calls for more EU debt Joachim Nagel’s shift on eurobonds reflects today’s “different reality,” he told POLITICO.

This is the real Zeitenwende : the head of the #Bundesbank breaks with a decades-long tradition of central bank fiscal orthodoxy and uncompromising opposition to EU debt mutualisation through common borrowing

A whole world of Eurozone analytical frameworks have just been turned upside down ...

Useful reminder by @lucasguttenberg.bsky.social @nilsredeker.bsky.social & @sandertordoir.bsky.social that the massive deregulatory drive (so-called 'simplification') instigated by the VdL 2 Commission will not solve any EU economic problem and, at best, result in a 0.07 % increase of the #EU GDP

Avec l'équipe de choc @hautetristan.bsky.social, Emma Nemesien, @baptistegiraud.bsky.social et Lana Lihouck nous avons le grand plaisir de vous partager ce papier paru dans le dernier n° de la RFSP.
On y parle des liens entre travail et élections (mes deux dada🙃)

shs.cairn.info/revue-revue-...

Dans le passé, ce genre de chevauchement n'a jamais été un problème (tant qu'il durait seulement quelques mois).
De plus, nommer un.e français.e en remplacement de Lane (dont le mandat expire le 31 mai 2027) permettrait de sécuriser le siège français au Directoire de la BCE avant la présidentielle

Transférer le SG de l'Élysée (Moulin) directement à la tête de la BdF serait pê considéré comme trop politique (quoiqu'il a suffisamment de réseaux chez LR pour ne pas se faire retoquer à l'AN et au Sénat), d'où mon pari sur Boone qui est le profil intermédiaire.

Le profil de Benassy-Quéré conviendrait mieux pour remplacer Lane comme chief economist de la BCE. Surtout, Macron voudra nommer un.e gouverneur.e capable d'être très offensif face à Bardella ou Le Pen. Et donc un profil très politique, qui connait le fonctionnement de l'exécutif et a des réseaux

Santander France va devoir trouver un.e nouveau/nouvelle DG 😅

Interesting move from the #ECB, especially in light of the calls to strenghen the international role of the #euro : most of them consider the expansion of the swap lines as a mandatory first step to internationaliste the euro

cc @shahinvallee.bsky.social @jvtk.bsky.social @steffenmurau.bsky.social

🚨 The political economy of finance summer school is back, 3rd year running! Better still: We're bringing it to London via @lse-ei.bsky.social.

𝐓𝐨𝐩𝐢𝐜: Finance & democracy
𝙳̲̲𝚊̲̲𝚝̲̲𝚎̲: 4-5 June 2026
𝘈𝘱𝘱𝘭𝘪𝘤𝘢𝘵𝘪𝘰𝘯 𝘥𝘦𝘢𝘥𝘭𝘪𝘯𝘦: March 1. Link below.

We've got brilliant instructors as usual. Please spread the word!

Donald Trump is preparing to nominate the former Federal Reserve governor to replace Jay Powell as the chair of the world’s most important central bank, according to three people familiar with the matter. ft.trib.al/X3NHXsg

Trump Expected to Announce Kevin Warsh as Fed Chair

Trump is expected to announce Kevin Warsh as Fed chair tomorrow, ending an extensive, highly publicized audition process for one of the president's most consequential appointments.
www.nytimes.com/2026/01/29/b... @tylerpager.bsky.social @nytimes.com

If Powell stays on the board as governor, Trump has no other choice than to appoint the next #Fed chair for a 14y term as governor, thus insulating him from any WH pressure linked to reappointment. This configuration would give more leeway to the next chair to deviate from Trump monetary preferences

Another reason for #Powell to stay would be to prevent #Trump from having leverage on the next chair : if Powell leaves the board, Trump could appoint the next chair for the remainder of Powell's governor term (which ends in Jan 2028) thus giving Trump leverage over the next chair with reappointment

Strategic repoliticisation: inflation, blame, and the fracturing of democratic accountability in the United States When inflation returned to the United States during the COVID-19 pandemic after decades of price stability, it created a critical test for the accountability mechanisms underpinning the system of d...

Did Congress forget the Fed controls inflation, or was forgetting the point?

My paper in New Political Economy shows Congress engaged in strategic repoliticisation, where political conflict serves electoral interests and preserves the Fed's technocratic autonomy www.tandfonline.com/doi/full/10....

« Les pressions de Donald Trump contre la Fed s’inscrivent dans un effort sans précédent d’extension des pouvoirs de l’exécutif » TRIBUNE. Ce qui se joue dans cette lutte entre l’exécutif et la banque centrale, c’est le sort de la séparation des pouvoirs aux Etats-Unis, affirme, dans une tribune au « Monde », le politiste Antoin...

Pourquoi #Trump s'en prend-il à la Réserve Fédérale ? Quels sont les enjeux de ces attaques du président étasunien contre la banque centrale et ses dirigeants ?

Dans cette tribune pour @lemonde.fr, j'apporte quelques éléments de réponse, issus de mes recherches

www.lemonde.fr/economie/art...

« Les pressions de Donald Trump contre la Fed s’inscrivent dans un effort sans précédent d’extension des pouvoirs de l’exécutif » TRIBUNE. Ce qui se joue dans cette lutte entre l’exécutif et la banque centrale, c’est le sort de la séparation des pouvoirs aux Etats-Unis, affirme, dans une tribune au « Monde », le politiste Antoin...

Pourquoi #Trump s'en prend-il à la Réserve Fédérale ? Quels sont les enjeux de ces attaques du président étasunien contre la banque centrale et ses dirigeants ?

Dans cette tribune pour @lemonde.fr, j'apporte quelques éléments de réponse, issus de mes recherches

www.lemonde.fr/economie/art...

💥 My article '𝐓𝐡𝐞 𝐥𝐞𝐭𝐭𝐞𝐫 𝐚𝐧𝐝 𝐭𝐡𝐞 𝐛𝐨𝐧𝐝: 𝐜𝐨𝐚𝐥𝐢𝐭𝐢𝐨𝐧𝐬, 𝐚𝐧𝐭𝐢-𝐜𝐨𝐚𝐥𝐢𝐭𝐢𝐨𝐧𝐬, 𝐚𝐧𝐝 𝐭𝐡𝐞 𝐚𝐝𝐨𝐩𝐭𝐢𝐨𝐧 𝐨𝐟 𝐭𝐡𝐞 𝐜𝐨𝐫𝐨𝐧𝐚𝐛𝐨𝐧𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐄𝐮𝐫𝐨𝐩𝐞𝐚𝐧 𝐔𝐧𝐢𝐨𝐧' is now available (open access) in the 𝐄𝐮𝐫𝐨𝐩𝐞𝐚𝐧 𝐏𝐨𝐥𝐢𝐭𝐢𝐜𝐚𝐥 𝐒𝐜𝐢𝐞𝐧𝐜𝐞 𝐑𝐞𝐯𝐢𝐞𝐰!

📄 Find it here: doi.org/10.1017/S175...

📣 @epsrjournal.bsky.social @sciencepoulb.bsky.social

Croatia’s Vujcic Gets Nod to Become Next ECB Vice President Croatia’s central-bank chief, Boris Vujcic, won the nomination of euro-area finance ministers to become the next European Central Bank vice president, according to people familiar with the matter.

Croatia central bank governor Boris Vujčić will succeed Luis De Guindos as #ECB Vice President.

His nomination does not really clarify the field of the race for the Presidency of the ECB : he's both a Hawk and from a Mediterranean country (so South of Europe)

www.bloomberg.com/news/article...

AP Source: Fed Chair Powell to attend Supreme Court argument on Cook case Federal Reserve Chair Jerome Powell will attend the Supreme Court’s oral arguments Wednesday in a case involving the attempted firing of Fed governor Lisa Cook, an unusual show of support by the central bank chair.

BREAKING: Federal Reserve Chair Jerome Powell will attend the Supreme Court's hearing on Trump's attempted firing of Fed governor Lisa Cook, an unusual show of support by the central bank chair.

I also think it is very unlikely. Same with a German. Imho it'll be Knot or Hernández de Cos, depending on who gets the vice-presidency. Thus it seems logical to hypothesize that France will push for Rehn or a Baltic central banker as VP, in order to pave the way for Spain to get the #ECB presidency

« Ouvrir une discussion avec la BCE » sur la dette française : les dessous de l’incertain projet de Jordan Bardella | Antoine de Cabanes Cette nouvelle position du RN concernant la politique monétaire de la Banque Centrale Européenne (#BCE) va probablement avoir un impact, mais sans doute pas celui escompté par Bardella, Tanguy and co....

Hence my bet that France will gun for the chief economist position with Agnès Bénassy-Quéré or Laurence Boone or Hélène Rey. It would also 'Le Pen-proof' the French ExBoard seat, as the chief economist position will be filled before the 2027 presidential election.

www.linkedin.com/posts/antoin...

They apparently see no problem with using the term 'banana republic' and consider it as synonymous with emerging markets ... 🤦
Given that Yellen & Furman both are Democrats, I don't want to imagine what racist slurr the Republican signatories of this statement would use

www.bbc.com/news/article...

Je suis très heureuse d'annoncer que mon nouveau livre La finance aux extrêmes. Enquête sur le capitalisme autoritaire en France, sort le 22 janvier prochain aux éditions la Découverte. On y parle gestion d'actifs, transformations des manières d'accumuler et nouveaux modes de gouvernement.

Wow... Writing this paper was a bit like watching a soap opera unfold. But it's out now in @bjpir.bsky.social

The big story is still: The ECB marched forward, with clear democratic authorisation, but not the Fed. Green central banking is much more democratic than people think.

Repo is even bigger than we thought A taxonomy of the engorged and utterly systemic US repurchase market

still my heart - REPO IS VERY SYSTEMIC piece @alphaville.ft.com

1. We still have no granular data, a full 17 years since run on repo blew up Lehman into a global financial crisis. The OFR now has data on US repo, but European repo is also USD 12 trillion (roughly)

www.ft.com/content/220d...