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Policy Brief: The European Banking Union

The decade of the economic crisis has highlighted in the most apparent way the flaws and weaknesses in the original architecture of the Economic and Monetary Union as well as the need for decisive reforms. In this effort, the European Banking Union constitutes one of the most ambitious projects of the European Union with the intention of establishing a single system of banking supervision and resolution based on a common …Read More

Greek Crisis: The End Game and Beyond

The three main protagonists in the Greek economic crisis, the Greek government, the IMF and the Eurozone partners ignored known lessons of how to deal with debt problems and committed policy errors that unnecessarily prolonged the crisis. This short note by Constantine Michalopoulos discusses the options for debt relief and restoration of creditworthiness at the end of the third bailout, which is soon approaching, and makes recommendations for Greek government …Read More

Employment protection legislation (EPL) in Greece (2010-2017)

The present article by Dr. Giannis Dendrinos aims at offering a critical overview of the major institutional initiatives in the field of employment protection legislation (EPL) during the recent economic adjustment programs in Greece (2010-2017). Furthermore, in the context of the European debate about the role and impact of employment protection legislation, the article investigates if these reforms constitute a well defined change of labour protection model in Greece as …Read More

Basel IIΙ: An Agreement to strengthen the financial sector’ stability

The recent finalization of Basel III completes, theoretically, the regulatory framework introduced after the 2007/8 crisis. According to the official declarations, the Agreement aims to strengthen the financial sector’ stability. However, its regulations and the levels of capital requirements it sets are not a radical change compared to the pre-crisis status quo. The previous two Agreements were more imbalanced, placing more emphasis either on the protection of the competitive advantage …Read More