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Beware return of eurozone’s north-south blame game

Pierre Briançon, (2017), «Beware return of eurozone’s north-south blame game», Politico, 13 Δεκεμβρίου Plans for grand eurozone reforms threaten to revive one of the most poisonous debates of the euro crisis, which nearly destroyed the monetary union.It’s been framed at times in terms of geography (the south of the Continent versus the north), in terms of morals (“virtuous” governments versus “sinners”), or in terms of pure politics (free-market conservatives versus …Read More

A fresh approach to complete the banking union in the Eurozone

Stefani Micossi, (2017), «A fresh approach to complete the banking union in the Eurozone», VoxEU, 11 Δεκεμβρίου Negotiations on the banking union in the Eurozone have been stuck ever since the Italian government assembled a blocking minority opposing further discussions on proposals to reduce legacy risks in banks’ balance sheets. This column argues that completing the banking union should once again be given priority, and that the European deposit insurance …Read More

A Tale of What Could Have Been for the EU’s Poorest Country

Elizabeth Konstantinova, Slav Okov, (2017), «A Tale of What Could Have Been for the EU’s Poorest Country», Bloomberg Politics, 11 Δεκεμβρίου A decade ago, Bulgarians flooded the streets in celebration of their ex-communist nation joining the European Union. There was a light show in the skies above the capital. Then-Prime Minister Sergei Stanishev called it a “dream come true.” The euphoria wasn’t just about shaking off the country’s Eastern Bloc …Read More

Pensions reforms have slowed in OECD countries but need to continue

OECD, (2017), «Pensions reforms have slowed in OECD countries but need to continue», 5 Δεκεμβρίου Further reforms are needed across OECD countries to mitigate the impact of population ageing, increasing inequality among the elderly and the changing nature of work, according to a new OECD report. Pensions at a Glance 2017 says that public spending on pensions for the OECD as a whole has risen by about 1.5% of GDP …Read More

Sovereign Concentration Charges are the Key to Completing Europe’s Banking Union

Nicolas Veron, (2017), «Sovereign Concentration Charges are the Key to Completing Europe’s Banking Union», Bruegel, 7 Δεκεμβρίου The past crisis revealed that most euro-area banks have disproportionate sovereign exposure in their home country. Charging banks for sovereign concentration is one solution to this issue, and would help advance the discussion on banking union. Σχετικές Αναρτήσεις Daniel Gros, (2017), «Banks as buyers of last resort for government bonds», VoxEU, 27 Νοεμβρίου …Read More

Completing EMU And Protecting Public Investment

Andrej Stuchlik, (2017), «Completing EMU And Protecting Public Investment», Social Europe, 6 Δεκεμβρίου For many today, debating institutional adjustments to the European Monetary Union embodies typical Brussels solipsism. If it ain’t broke, don’t fix it seems to be a reasonable point of departure, especially with economic growth slowly but steadily returning to Europe, mainly driven by private consumption. However, it is still broken when it comes to sufficiently high levels …Read More

Almost one-third of EU GDP spent on social protection

Eurostat/Almost one-third of EU GDP spent on social protection/8 Δεκεμβρίου 2017 Since 2010, social protection expenditure in the European Union (EU) has increased slightly, from 28.6% of GDP in 2010 to 29.0% in 2015, according to data from Eurostat, the statistical office of the European Union. In 2015, the two main sources of funding of social protection at EU level were social contributions, making up 54% of total receipts, and …Read More

A European Monetary Fund: Why and how?

Daniel Gros, Thomas Mayer, (2017), «A European Monetary Fund: Why and how?», CEPS Working Paper, 11 Δεκεμβρίου We argued as early as 2010, at the outset of the sovereign debt crisis, that Europe needs a European Monetary Fund (EMF). In the meantime, the European Stability Mechanism (ESM) has been created, which performs the function of an EMF. It was critical in containing the cost of the crisis and four of its five country programmes …Read More

Ενστάσεις Βερολίνου στο σχέδιο Ευρωπαϊκού Νομισματικού Ταμείου

Η Καθημερινή, (2017), «Ενστάσεις Βερολίνου στο σχέδιο Ευρωπαϊκού Νομισματικού Ταμείου», 7 Δεκεμβρίου Εντονες ενστάσεις έχουν προβάλει ήδη ορισμένα κράτη-μέλη, προεξαρχούσης της Γερμανίας, για τη δέσμη προτάσεων που παρουσίασε χθες η Ευρωπαϊκή Επιτροπή με απώτερο στόχο την περαιτέρω ενοποίηση αλλά και ενίσχυση των κρατών-μελών της Ευρωζώνης. Σχετικές Αναρτήσεις Γ. Παγουλάτος, Σ. Μπλαβούκος, Θ. Ντόκος, Δ. Τσίγκου, Γ. Παπαγεωργίου, (2017), «Προτάσεις Για Την Ευρωπαϊκή Οικονομική Διακυβέρνηση», διαΝΕΟσις, Δεκέμβριος Βαρβιτσιώτη, Ελένη, (2017), «Διελκυστίνδα …Read More

Challenges for euro area monetary policy in early 2018

Yves Mersch, (2017), «Challenges for euro area monetary policy in early 2018», European Central Bank, 6 Δεκεμβρίου Speech by Yves Mersch, Member of the Executive Board of the ECB, at the 32nd International ZinsFORUM, Frankfurt am Main, 6 December 2017. Σχετικές Αναρτήσεις Draghi, Mario, (2017), «Monetary policy and the economic recovery in the euro area», European Central Bank (ECB), 6 Απριλίου Peter Müller, Christian Reiermann, (2017), «Juncker Seeks Greater Commission Control …Read More