Merler, S., Wolff, G., (2014), “2014 Financial Odyssey: How should the first steps of the banking union be implemented”, Voxeu, Ιανουάριος. The European Banking Union matures in 2014, with the ECB assuming its role as single supervisor. This column outlines the transition to the new steady state. This will involve a comprehensive balance sheet assessment, new rules regarding recapitalisation, restructuring, and resolution, and the determination of how recapitalisation costs are …Read More
Education to employment: Getting Europe’s youth into work
Mourshed, Μ., Patel, J., Suder, K., (2014), “Education to employment: Getting Europe’s youth into work”, McKinsey & Company, Ιανουάριος. The problem of youth unemployment in the European Union is not new. Youth unemployment has been double or even triple the rate of general unemployment in Europe for the last 20 years. The events of the past few years have dramatically exacerbated it, however: 5.6 million young people are unemployed across Europe, …Read More
Labor Market Reforms and the Great Recession
Zimmermann, Kl., (2013), “Labor Market Reforms and the Great Recession”, IZA Policy Paper, N. 75. Germany can be regarded as a showcase for labor market reforms. Moreover, its labor market responded only mildly to the Great Recession. This paper assesses the role of the labor market reforms for the latter development. Against this background, general lessons are drawn from the German experience that include, for example, placing a greater emphasis …Read More
Powering European Sector Innovation: Towards a New Architecture
European Commission, (2013), “Powering European Sector Innovation: Towards a New Architecture”, Report of the Expert Group on Public Sector Innovation. In the midst of a fragile economic recovery across the European continent and stressed public finances, many governments are faced with long-term issues such as ageing societies, mounting social security and healthcare costs, high youth unemployment and an outdated public service infrastructure that lags behind the needs of modern citizens …Read More
Bridging the Gap Between Europe’s Economic Cultures
Monti, Mario, (2013), “Bridging the Gap Between Europe’s Economic Cultures” The Globalist, 19 Δεκεμβρίου. For a few years now, I have felt as if I live intellectually in the Alps. That is because, in European debates and in the European Council, I have often acted as a sort of translator of the virtues of discipline into Mediterranean languages. At the same time, for the northern countries I have served as …Read More
Advanced Malaise
Stiglitz, Joseph, (2013), “Advanced Malaise”, Project Syndicate, 13 Ιανουαρίου. Economics is often called the dismal science, and for the last half-decade it has come by its reputation honestly in the advanced economies. Unfortunately, the year ahead will bring little relief. Σχετικές αναρτήσεις Pissarides, C., (2013), “The Euro Should Be Growth Friendly or Be Dismantled”, Social Europe Journal, 16 December. Sinn, H.W., (2013), “Rescuing Europe from the Ground Up” , Project Syndicate, 21 …Read More
The Crisis in the Euro Area: an Analytical Overview
Gibson, H., Palivos, Th., Tavlas, G., (2014), “The Crisis in the Euro Area: an Analytical Overview”, Bank of Greece Conference Paper: “The Crisis in the Euro Area, May 23-24, 2013”. This paper provides an introduction to the special issue “The Crisis in the Euro Area”. We take stock of what the euro area crisis has taught us about monetary integration. At the inception of the euro area in 1999, the …Read More
Britain’s Financial Services Industry in a Changing Europe
Policy Network, (2013), “Britain’s Financial Services Industry in a Changing Europe”, A Policy Network Report for the City of London Corporation, 22 Νοεμβρίου. Financial services are the focal point of the debate about Britain’s future in the EU. The sovereign debt and banking crises have accelerated integration in the Eurozone, a trend often seen as alien to British interests. The position of the City as the main financial services …Read More
Why fiscal sustainability matters
Buiter, W., (2014) “Why fiscal sustainability matters”, 10 Ιανουαρίου. Fiscal sustainability has become a hot topic as a result of the European sovereign debt crisis, but it matters in normal times, too. This column argues that financial sector reforms are essential to ensure fiscal sustainability in the future. Although emerging market reforms undertaken in the aftermath of the financial crises of the 1990s were beneficial, complacency is not warranted. In …Read More
Draghi’s ‘Whatever It Takes’ Still Works as Euro Revives
Kennedy, S., Black, J., (2014), “Draghi’s ‘Whatever It Takes’ Still Works as Euro Revives” , Bloomberg, 10 Ιανουαρίου. Mario Draghi finally has reason for cheer as a new year begins. Eighteen months since the European Central Bank president declared he would do “whatever it takes” to protect the euro, fresh signs are emerging that his ad-libbed lines in a July 2012 London speech still serve as a potent force. Σχετικές …Read More