selection

euro zone

This tag is associated with 18 posts

Euro-area reforms: Challenges and policies [What Think Tanks are thinking]

Written by Marcin Grajewski, Reforms to the system of governance of the euro area, launched in the wake of the 2008-09 financial crisis, have included, inter alia, the creation of authorities to better supervise the financial markets, improved mechanisms to coordinate fiscal policies, and procedures to correct economic imbalances. While the drive to overhaul the … Continue reading

Roundtable Discussion on Economic Governance and Options for a Fiscal Capacity

Written by Andrej Stuchlik, with Philipp Wegner On 20 October 2016, the European Parliamentary Research Service (EPRS) jointly hosted a roundtable debate with the International Monetary Fund (IMF) to discuss current challenges for the euro area and potential options for a fiscal capacity. Unfolding in 2010, the sovereign debt crisis exposed weaknesses in the economic … Continue reading

Helicopter Money [Policy Podcast]

Written by Cemal Karakas, The economic crisis has led to stagnation in the EU, and in some euro-area countries in particular. Several experts have advocated ‘helicopter money’ as a way of jump-starting the economy by combatting deflationary tendencies and boosting investment. Helicopter money, or ‘helicopter drops’ of money, generally refers to a non-standard monetary policy … Continue reading

European Parliamentary Week on the European Semester

Written by Richard Freedman in cooperation with Andrej Stuchlik The States-General of The Netherlands and the European Parliament are inviting national Parliaments to the Interparliamentary Conference on Stability, Economic Coordination and Governance in the European Union (the Conference following Article 13 of the Treaty on Stability, Coordination and Governance in the EMU (TSCG)). The European … Continue reading

Secular stagnation and the euro area

Written by Gustaf Gimdal and Cemal Karakas Graphics by Christian Dietrich Several years after the Great Recession began, the euro area is still far from fully recovered. The international economic and financial crisis has pushed down investment levels within the EU by about 15% from their peak in 2007. Even though the near-term prospects seem … 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

Unemployment in the EU [What Think Tanks are thinking]

Written by Marcin Grajewski Unemployment in the euro zone and the whole European Union has been inching down for many months, adding to signs of economic recovery, but remains well above levels recorded before the start of the financial crisis in 2008. The seasonally-adjusted euro area unemployment rate was 11.1 percent in April 2015 down … Continue reading

The ECB’s ‘unorthodox’ monetary policy [What Think Tanks are thinking]

Written by Marcin Grajewski In March 2015, the European Central Bank (ECB) launched its quantitative easing (QE) programme, the so-called Public Sector Purchase Programme, under which the ECB buys financial assets from euro-area banks, corporations or governments. This 60 billion euro per month scheme is aimed at putting downward pressure on bond yields, warding off … 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

Economic growth in the euro area [What Think Tanks are thinking]

Written by Marcin Cesluk-Grajewski The European Commission upgraded its growth forecast for the euro area on 5 February, saying that cheaper oil, a weaker euro and more expansionary policy of the European Central Bank should stimulate economic expansion. Presenting its winter forecast , the Commission said it expected the euro area’s gross domestic product (GDP) … 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

Implementation of the 2014 European Semester

6 language versions available in PDF formatDurchführung des Europäischen Semesters 2014 Ejecución del Semestre Europeo 2014 Mise en œuvre du semestre européen 2014 Attuazione del semestre europeo 2014 Wdrożenie europejskiego semestru w 2014 r. Implementation of the 2014 European Semester Written by Marcin Szczepanski Member States’ economic policies are coordinated at EU level through the … Continue reading

Common unemployment insurance scheme for the euro area : Cost of Non-Europe Report

The European Parliament has called for a “social dimension” to the Economic and Monetary Union to tackle unemployment and restore growth following the recent economic crisis. Among various alternative options, automatic stabilisers could potentially be means of stabilising the Eurozone, while at the same time addressing social problems associated with the financial crisis. This Cost … Continue reading

Lithuania on the way towards euro adoption

6 language versions available in PDF format Litauen auf dem Weg zur Euro-Einführung Lituania en el camino hacia la adopción del euro La Lituanie se prépare à adopter l’euro La Lituania verso l’adozione dell’euro Litwa na drodze do przyjęcia euro Lithuania on the way towards euro adoption After Latvia joined the euro area at the … Continue reading

Democratic Deficit in the Economic Governance of the EU

The financial crisis and the anti-crisis measures thereafter highlighted the issue of democratic scrutiny over decisions taken by the European Council and the Member States (MS) outside the framework of the European Union (EU). This has triggered debate about the EU’s democratic deficit in the area of the Economic Governance, because of the limited powers … 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

Towards the European Banking Union: The Single Supervisory Mechanism

The crisis in the euro area has been characterised by close ties between the rescuing of banks and government debt. In order to break this vicious circle, the European Commission proposed on 12 September 2012 the creation of a Single Supervisory Mechanism (SSM) as a first step towards the creation of a pan-European regulatory framework … Continue reading

Rationale behind a euro area “fiscal capacity”: Possible instruments including a dedicated budget

The sovereign debt crisis exposed weaknesses in the economic and monetary union (EMU), the integration process that brought the creation of the euro. MemberStates and EU institutions have taken several measures to tackle these shortcomings, including stricter rules on economic governance and setting up the European Stability Mechanism. Ideas to further strengthen EMU include the … Continue reading

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