selection

economic and monetary union (EMU)

This tag is associated with 42 posts

The Juncker Commission’s ten priorities: State of play at the start of 2017

Written by Étienne Bassot and Wolfgang Hiller, More than two years since Commission President Jean-Claude Juncker took office on 1 November 2014, having presented the ten priority areas that would serve as his Commission’s guiding lines for the following five years, the European Commission is now approaching the midway point of its mandate. Building on the … Continue reading

Capital Markets Union [What Think Tanks are thinking]

Written by Marcin Grajewski, Since the 2008 financial crunch and the ensuing recession, the European Union has been overhauling its regulation of financial markets to try to avoid any repetition of the crisis and to shore up economic growth. The current European Commission has prioritised the creation of Capital Markets Union, which would encourage companies … Continue reading

A fiscal capacity for the euro area? Options for reforms to counter asymmetric shocks

The idea to create a ‘fiscal capacity’ for the euro area was launched in the wake of the sovereign debt crisis, with the recognition that weaknesses in the Economic and Monetary Union (EMU) had worsened the crisis. Although the debate has lost some momentum as euro-area countries have stepped back from the acute phase of the crisis, the EU institutions continue to work on designing a framework to bolster EMU, looking in particular at automatic stabilisers. The European Parliament’s Committees on Budgets and Economic and Monetary Affairs are currently preparing a report on a budgetary capacity for the euro area. Continue reading

Monetary easing by the ECB [What Think Tanks are thinking]

Written by Marcin Grajewski, The European Central Bank has been easing its monetary policy to counter deflationary forces in the euro-zone economy and to reinforce its fragile growth. On 10 March, the ECB announced another stimulus package, cutting interest rates, expanding its asset purchase programme in size and scope, and introducing measures to make it … Continue reading

Differentiated integration in the European Union

Written by Aidan Christie and Giulio Sabbati, As the number of European Union Member States has increased and the competences of the Union have widened, some Member States have on occasion been exempted from joining their partners in new fields of integration. Whilst the single market and its ‘four freedoms’ remain at the heart of … Continue reading

Completing Economic and Monetary Union [What Think Tanks are thinking]

Written by Marcin Grajewski Member states using the euro and the EU institutions are engaged in reforms of the euro area’s system of governance to improve its economic performance and avoid any repeat of the sovereign debt crisis and severe recession that followed the 2008-09 global financial crisis. Reforms have so far included the creation … Continue reading

The ECB’s Quantitative Easing: Early results and possible risks

Written by Angelos Delivorias, In early 2015, at a time when most indicators of actual and expected inflation in the euro area had drifted towards historic lows, the European Central Bank (ECB) announced that it would launch a new asset purchase programme, which would be similar in many respects to the ‘Quantitative Easing’ (QE) programmes … Continue reading

Banking Union [What Think Tanks are thinking]

Written by Marcin Grajewski On 11 November, the European Commission will hold an orientation debate on next steps to complete the EU’s Banking Union — the European Union’s single rulebook on the functioning of banks, their supervision, restructuring and liquidation, and the protection of their customers and stakeholders. The Banking Union was created in response … Continue reading

Outcome of the European Council of 15 October 2015

Written by Ralf Drachenberg, Stanislas de Finance The one-day European Council meeting held on 15 October 2015 again focused on the issue of migration, as indicated in the EPRS Pre-European Council Briefing. While assessing the state of implementation of the migration ‘orientations’ agreed upon by the informal European Council on 23 September 2015, EU Heads … Continue reading

Outlook for the 15-16 October 2015 European Council

Written by Ralf Drachenberg and Stanislas de Finance The 15/16 October 2015 European Council is expected to focus on migration, following up on progress made since the 25/26 June 2015 European Council and on the results of the Eastern Mediterranean – Western Balkans route conference. It will also examine the European Commission’s Draft Action Plan … Continue reading

The ECB and the financial crisis: Rigid theory vs a pragmatic approach

Written by Cemal Karakas The European Central Bank’s (ECB) main objective is stable inflation in the Economic and Monetary Union (EMU). During the financial crisis, the ECB decided to face the economic slump by, amongst other actions, increasing and then decreasing interest rates and the money supply. In addition, it launched a quantitative easing (QE) … Continue reading

European economic governance [What Think Tanks are thinking]

Written by Marcin Grajewski The 2008-09 financial crisis and the ensuing recession have prompted the euro area and the European Union to start overhauling their economic governance system. They established three authorities to better supervise the financial markets, improved mechanisms to oversee and coordinate fiscal policies, created procedures to correct economic imbalances, and launched a … Continue reading

Outlook for the informal European Council meeting of 12 February 2015: Pre-European Council Briefing

Written by Joséphine Vanden Broucke, Susanna Tenhunen, Stanislas de Finance, Ralf Drachenberg and Donata Szabo Measures on the fight against terrorism and radicalisation are likely to be the priority item for discussion – in the presence of the EP President, Martin Schulz – at the informal European Council, meeting of Heads of State or Government, … Continue reading

Evaluating EU Economic Governance – Elements for the debate on the “Six-Pack” and “Two-Pack”: Implementation in Action

Written by Stephan Huber and Marco Scagliusi The “Two-Pack” and “Six-Pack” mark the latest stage of the legislative framework for Economic and Monetary Union (EMU). The European Commission evaluation report is the first step in building a deeper and fairer Economic and Monetary Union. Articles and studies have highlighted the need to further address those … Continue reading

Changes to the ECB’s voting rules

Written by Conall Devaney and Aidan Christie With Lithuania joining the euro area on 1 January 2015, the total number of states using the single currency reaches 19, consequently bringing about significant changes in the decision-making structures of the European Central Bank (ECB). In particular, there is a new rotation system for the votes of … Continue reading

The Banking Union: state of play

The Banking Union is designed to break the link between ailing banks and indebted governments. Its aim is to avoid the strain which is put on public finances when banks need rescuing, and, at the same time, to reduce banks’ exposure to increasing risks in public debt. The Banking Union is based on a single … Continue reading

The EU Parliament and the Battle to Secure Our Common Future

By Eric Lowitt This guest blog post is a pre-cursor to the upcoming debate on The Collaboration Economy scheduled for 16 October 2013 at 18.00 to take place in the EU Parliament Library in Brussels. Worldwide we are engaged in a conflict that we must win. This conflict has three components: math, trust, and economic … Continue reading

The social dimension of the Economic and Monetary Union

Updated on 30 October 2013 In response to the economic crisis, a number of EU-level measures have been taken in the last five years to reinforce economic governance and  improve the functioning of the Economic and Monetary Union (EMU). With the aim of further deepening social and economic integration in the euro area, the European Commission put … Continue reading

European Union’s macro-regional strategies

The European Commission has published its report on EU’s macro-regional strategies. It aims to ‘clarify the concept of macro-regional strategies and to evaluate their value added’.  The report and its accompanying document   were submitted to the Council and to the European Parliament in July 2013. Currently, the European Union is implementing two macro-regional strategies: the EU Strategy for … Continue reading

EP strengthens transparency and accountability of single banking supervisor

On 12 September 2013 the European Parliament approved a single supervisory mechanism (SSM) for EU banks. MEPs voted on two legislative texts concerning the European Commission’s proposal to establish the SSM (EP’s consultation was required) and the amended role of the European Banking Authority (EBA) in the new supervisory structure. The Presidents of EP and … Continue reading

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