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New Atlanticist

Apr 16, 2015

Europe Limps Back From Recession

By Ashish Kumar Sen

Dip in oil prices, European Central Bank’s bond-buying program seen as boon The European economy is slowly recovering from a double-dip recession aided in part by falling oil prices and a $1.2 trillion bond-buying program by the European Central Bank (ECB), a senior European Commission official said April 16. “We are seeing the European economy […]

Europe & Eurasia European Union

EconoGraphics

Apr 14, 2015

Who is Investing Abroad?

By Global Business & Economics

While the US still leads the world in outflowing Foreign Direct Investment (FDI), the emerging markets are catching up quickly. Chinese outflowing FDI, in particular has grown tremendously: since 2005, it increased more than 30-fold in 8 years from $5 billion to $166 billion. While initial Chinese foreign investments focused on natural resource industries, over time the investments have spread to diverse industries like agriculture, manufacturing, and professional services. BRIC FDIs are emerging as key growth drivers for low income countries, improving their business environment, building infrastructure, creating jobs, and adding much-needed revenue to government coffers.

China Russia

EconoGraphics

Apr 7, 2015

Is Europe still vulnerable to a Greek default?

By Global Business & Economics Program

Private banks throughout Europe have significantly reduced their exposure to Greek debt (bank, public, and non-bank private sector debt) over the last five years. After Greece came under market pressure and eventually obtained ECB and IMF financial assistance in 2010, most European banks started to rapidly reduce their exposure to Greece. For instance, between 2010 and 2014 French banks' holdings decreased from $63 billion to $2 billion.

Economy & Business Eurozone
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Andrea Montanino is a nonresident senior fellow with the GeoEconomics Center and a chief economist CDP, and chairman Fondo Italiano d’Investimento. Between 2014 and 2017, he served as the C. Boyden Gray Fellow on Global Finance and Growth, and the director of the Global Business and Economics Program at the Atlantic Council. He led the Council’s work on global trade, growth, and finance, launching the EuroGrowth Initiative as well as the Economic Sanctions Initiative.

Montanino previously acted as executive director of the International Monetary Fund (IMF), representing the governments of Italy, Albania, Greece, Malta, Portugal, and San Marino. Before joining the IMF, he was a career officer in the Italian Ministry of Finance from 2006 to 2012. As director general at the Treasury Department, he worked extensively to alleviate the impact of the great recession on the business sector, drafting and implementing a number of laws. He developed innovative partnerships with the private sector, including a public-private development bank, where he served as vice president, and a private equity fund for small and medium sized enterprises, where he first led the steering committee and later served as the treasury representative on the Board of Directors. He also was a board member in a private equity fund specializing in infrastructure projects. As a member of the cabinet and economic advisor to the Italian Minister of Finance, Montanino contributed to a comprehensive public budget reform policy effort, which was later implemented on a national scale.

He also spent four years (2001-2005) at the European Commission in the Directorate General for Economic and Financial Affairs. During those years, he worked on the reform of the EU budgetary rules and was responsible for the long-term sustainability analysis of European countries.

Montanino graduated summa cum laude in economics from the University of Rome, La Sapienza, in 1992. He holds a MSc in labor economics from the London School of Economics and a PhD in economics from the University of Rome, La Sapienza.