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A macro approach to international bank resolution

Schoenmaker, Dirk, (2017), «A macro approach to international bank resolution», Bruegel, 10 Ιουλίου As regulators rush to strengthen banking supervision and implement bank resolution regimes, a macro approach to resolution is needed that considers both the contagion effects of bail-in and the continuing need for a fiscal backstop to the financial system. This can be facilitated through the completion of a banking union in which the European Stability Mechanism (ESM) …Read More

We need a European Monetary Fund, but how should it work?

Sapir, Andre, Schoenmaker, Dirk, (2017), «We need a European Monetary Fund, but how should it work?», Bruegel, 29 Μαΐου Many voices are calling for the ESM to be developed into a fully-fledged European Monetary Fund. But what changes would this entail, and how could the new institution be governed? The authors see both need and hope for change. Σχετικές Αναρτήσεις Merler, Silvia,Schoenmaker, Dirk, Véron, Nicolas, (2017), «How will Europe’s banking …Read More

Η Κύπρος θα αναπτύσσεται με 2%-2,5% το 2017-2018

Η Καθημερινή, (2017), «Η Κύπρος θα αναπτύσσεται με 2%-2,5% το 2017-2018», 11 Μαϊου Με ρυθμό 2%-2,5% αναμένεται να κινηθεί η ανάπτυξη στην κυπριακή οικονομία το 2017 και το 2018, εκτιμά η Ευρωπαϊκή Τράπεζα Ανοικοδόμησης και Ανάπτυξης (EBRD), που παρακολουθεί 36 χώρες από το Μαρόκο και την Τυνησία μέχρι την Ανατολική Ευρώπη και την Αρμενία. Στην εξαμηνιαία έκθεσή της προειδοποίησε ότι τα υψηλά επίπεδα δανεισμού και η συσσώρευση επισφαλών δανείων στην …Read More

The Banking Union: An Overview and Open Issues

Schoenmaker, Dirk, (2017), «The Banking Union: An Overview and Open Issues», Bruegel, 2 Μαΐου The move to European Banking Union involving the supervision and resolution of banks at euro-area level was stimulated by the sovereign debt crisis in the euro area in 2012. However, the long-term objective of Banking Union is dealing with intensified cross-border banking. Σχετικές Αναρτήσεις Navaretti, Giorgio Barba, Calzolari, Giacomo, Pozzolo, Alberto Franco, (2016), «Sovereign and banking risk: Completing the union and …Read More

The European Fund for Strategic Investments as a New Type of Budgetary Instrument

Rinaldi, David, Núñez Ferrer, Jorge, (2017), «The European Fund for Strategic Investments as a New Type of Budgetary Instrument», CEPS Research Report No 2017/07, 5 Απριλίου This paper provides an overview of the European Fund for Strategic Investments (EFSI) as a budgetary instrument. A preliminary analysis of the quantitative impact of its first year and a half of activity is complemented by an outline of the corollary policies that can …Read More

Financial Transactions Taxes Make the Economy More Efficient

Baker, Dean, (2017), «Financial Transactions Taxes Make the Economy More Efficient», CEPR, 3 Απριλίου The government of Belgium is arguing that trades by these funds should not be subject to the tax. This objection makes little sense if the goal of the Belgium government is actually to protect the pension funds. Of course it is a great line of argument if the point is to sabotage the FTT while appearing to …Read More

Beyond the Equity- Efficiency Trade-Off: Practical Ideas for Inclusive Growth and Competitiveness in Europe

The Europe Inclusive Growth and Competitiveness Lab, (2017), «Beyond the Equity- Efficiency Trade-Off: Practical Ideas for Inclusive Growth and Competitiveness in Europe», European Investment Bank, World Economic Forum, Μάρτιος The European Investment Bank (EIB) and World Economic Forum have issued a call to action for social inclusion to be put at the heart of EU economic policy. It comes as a new joint White Paper by both organizations, with contributions …Read More

Guidance to banks on non-performing loans

ECB Banking Supervision, (2017), «Guidance to banks on non-performing loans», ECB, Μάρτιος A number of banks in Member States across the Euro area are currently experiencing high levels of non-performing loans (NPLs). There is broad consensus on the view that high NPL levels ultimately have a negative impact on bank lending to the economy1 , as a result of the balance sheet, profitability, and capital constraints faced by banks with …Read More

The Case for Fiscal Policy to Support Structural Reforms

Banerji, Angana, Dabla-Norris, Era, Duval, Romain, Furceri, Davide, (2017), «The Case for Fiscal Policy to Support Structural Reforms»,IMF Direct, 13 Μαρτίου Many advanced countries need  structural reforms to make their economies more productive and raise long-term living standards.  Our new research shows that provided countries can afford it, fiscal policy, through spending or tax incentives, can help governments overcome some obstacles to the reforms, particularly in the early stages.   Structural …Read More

European identity and the economic crisis

Merler, Silvia, (2017), «European identity and the economic crisis», Bruegel, 6 Μαρτίου Ferrera looks into what it means to be a European, and argues that integration proceeded so as to favour the emergence of a pan-European elite identity, while the inherited weight and inertia of national cultural frameworks prevented the emergence of a deeper sense of common citizenship across the EU. The ‘econo-cracy’ and austerity politics of the recent crisis years …Read More