ECB (2014) “The international role of the euro“, European Central Bank – Eurosystem, Ιούλιος. This report reviews developments in the international role of the euro in 2013, tracking a comprehensive set of indicators covering a number of different market segments. As in previous issues, the main focus is on measures of the euro’s relevance in financial markets, such as the use of the euro in foreign exchange reserves or …Read More
Mody, A. (2014) “Did the German court do Europe a favour?“, Bruegel Working Paper 2014/09, 15 Ιουλίου. The European Central Bank’s Outright Monetary Transactions (OMT) programme was a politically-pragmatic tool to diffuse the euro-area crisis. But it did not deal with the fundamental incompleteness of the European monetary union. As such, it blurred the boundary between monetary and fiscal policy. The fuzziness of this boundary helped in the short-term …Read More
Dorn, Ν. (2014) “The real lesson from the financial crisis is that we need to stop insulating financial regulation from democracy“, LSE EUROPP, 15 Ιουλίου. The financial crisis has generated a number of policies and discussions across Europe aimed at reforming financial regulation. Nicholas Dorn writes that while there is widespread recognition that a rethink is required to prevent a similar crisis from occurring again, the core problem underlying …Read More
Turrini, A., Koltay, G., Pierini, F., Goffard, C. & Kiss, A. (2014) “European Economy: a Decade of Labour Market Reforms in the EU – Insights from the LABREF Database“, Economic Papers 522, European Commission – Economic and Financial Affairs, Ιούνιος. This paper analyses the determinants and impact of labour market reforms in the European Union over the period of 2000-2011. The source of information on reforms is the LABREF …Read More
Hugh, E. (2014) “Spain and the IMF: Round the Bend or Out of the Woods?“, A Fistful of Euros-European Opinion Blog, 15 Ιουλίου. “Spain has turned the corner”. With this stark statement the IMF opened it’s annual Article IV consultation report for 2014. Naturally the statement rankled, with this author among others, because at first sight it seems to be saying something which on closer reading of the report …Read More
Hoffer, F. (2014) “Why We Need Movement Of Free People“, Social Europe Journal, 15 Ιουλίου. When Franklin Roosevelt outlined his essential four freedoms in 1941 he was convinced democracy could only be defended and advanced beyond the remaining 11 democracies by replacing classical liberalism with a comprehensive concept based on freedom of expression, freedom of worship, freedom of want and freedom from fear. Real freedom cannot exist if one of …Read More
International Monetary Fund (2014) “Euro Area Policies Staff Report for the 2014 Article IV Consultation With Member Countries“, IMF Country Report No. 14/198, Ιούλιος. KEY ISSUES Context. Real output has expanded for four consecutive quarters, and financial market sentiment has improved markedly. But the recovery is weak and uneven. Inflation has been too low for too long, financial markets are still fragmented, and structural gaps persist: these hinder rebalancing …Read More
Benkovskis, K. & Woerz, J. (2014) “Lower import prices = 100% welfare gains? Not necessarily: don′t forget the impact of consumer taste and product quality“, VoxEU Organisation, 15 Ιουλίου. Import price statistics may not be a reliable indicator of welfare gains. They must adequately reflect the fact that consumers value variety, and that consumer tastes and product quality change over time. This column evaluates existing findings, and introduces new …Read More
Jaroszewicz, Μ. (2014) “Can we expect a rise in migration from Eastern Europe?“, EU Observer, 15 Ιουλίου. Research indicates that the inflow of migrants from Ukraine, Belarus and Moldova – even after visa liberalisation – will be modest. The Polish Centre for Eastern Studies, altogether with seven other research institutions from Central and Eastern Europe, has recently concluded research aimed at forecasting possible future migration from eastern Europe to …Read More
Worth, J. (2014) “The next President of the European Council and High Representative for Foreign Affairs: a final look at the candidates“, LSE EUROPP, 15 Ιουλίου. The European Council will meet on 16 July with the aim of deciding who will replace Herman Van Rompuy as President of the European Council and Catherine Ashton as the EU’s High Representative for Foreign Affairs. Jon Worth takes a final look at …Read More
