Fernando Avalos and Emmanuel C Mamatzakis, (2018), “Euro area unconventional monetary policy and bank resilience”, BIS Working Papers, No 754, 2 November The ECB has deployed a broad array of unconventional monetary policy tools over the last few years. Those include negative interest rates, and several programmes of asset purchases and long-term liquidity provision, which we bundle together under the general label of “quantitative easing”. We study the impact of …Read More
Macron’s strategist says goal is to reshape fracturing EU politics
Michel Rose, (2018), “Macron’s strategist says goal is to reshape fracturing EU politics”, Reuters, 31 October Europe’s fragmenting political landscape is an opportunity for Emmanuel Macron to blow apart Brussels’ traditional left-right duopoly in next year’s European election, the newly appointed head of the French president’s EU campaign said. In his first interview since his appointment this week as top strategist in Macron’s En Marche party, Stéphane Séjourné says the …Read More
Could Sanctions against Italy Be Imposed Earlier than Expected?
Cohen-Setton J.and Leandro A., (2018), “Could Sanctions against Italy Be Imposed Earlier than Expected?”, Peterson Institute for International Economics, 30 October Ιtaly may soon find that time is running out if it wants to escape swift punishment for violating the European Union’s tough rules against excessive budget deficits.[1] The nation’s debt-to-GDP ratio of more than 130 percent is well above the EU debt limit of 60 percent. In the past, …Read More
The Merkel Era Is Ending—What It Means for the German Government
Kirkegaard J.F., and Zettelmeyer J., (2018), “The Merkel Era Is Ending—What It Means for the German Government”, Peterson Institute for International Economics, 30 October Chancellor Angela Merkel’s abrupt announcement that she would not seek reelection as leader of the Christian Democratic Union (CDU) constitutes the beginning of the end of the Merkel era. What does this mean for the German government? Contrary to what one might expect, it is more …Read More
The end of social Europe? Understanding EU social policy change
Graziano P., Hartlapp M., (2018), “The end of social Europe? Understanding EU social policy change”, Journal of European Public Policy, DOI: 10.1080/13501763.2018.1531911, 26 October The financial and economic crisis has increased attention on EU social policy, yet little policy change has been realized. Drawing on Easton’s political system approach, we differentiate demand emanating from the difficult situation following the crisis and support in form of the 2004, 2009 and 2014 European elections. …Read More
Euro area annual inflation up to 2.2%
Eurostat/Euro area annual inflation up to 2.2%/31 October 2018 Euro area annual inflation is expected to be 2.2% in October 2018, up from 2.1% in September 2018, according to a flash estimate from Eurostat, the statistical office of the European Union. Relevant Posts Eurostat/Annual inflation up to 2.1% in the euro area/October2018 Eurostat/GDP up by 0.2% in the euro area and by 0.3% the EU28/30 October 2018
Europe’s Budget Rules Need Smart Enforcement
Bloomberg (Editorial Board), (2018), “Europe’s Budget Rules Need Smart Enforcement”, Bloomberg, 31 October As it does each year, the European Commission is digging into the budgets of euro-zone member states to see if they comply with the bloc’s fiscal rules. The recent slowing of the European economy complicates this work — or ought to. It suggests that Brussels should not be overly strict. The commission needs to sanction serious violations, …Read More
Authority Under Construction: The European Union in Comparative Political Perspective
Kathleen R. McNamara, (2018), “Authority Under Construction: The European Union in Comparative Political Perspective”, Journal of Common Market Studies, Volume 56, Issue 7, 23 August Moravcsik’s liberal intergovernmentalism irrevocably upgraded the rigour of European Union scholarship by categorizing the EU as an international organization, and analyzing it in terms of general theories of international relations. The deepening of European governance has meant, however, that the EU today is better understood …Read More
Preferences, Power and Institutions in 21st‐century Europe*
Andrew Moravcsik, (2018), “Preferences, Power and Institutions in 21st‐century Europe”, Journal of Common Market Studies, Volume 56, Issue 7, September 2018 After twenty‐five years, few scholars still dispute the leading role of Liberal Intergovernmentalism (LI) in theorizing EU history. Yet some question whether it can explain Europe’s recent evolution. This article argues that LI retains its place as a ‘baseline’ integration theory. It is uniquely able to provide credible micro‐foundations …Read More
Europe’s Coming Year of Reckoning
Joschka Fischer, (2018), “Europe’s Coming Year of Reckoning”, Project Syndicate, 30 October It is no exaggeration to say that 2019 will be the year that makes or breaks the European Union. As if Brexit and a mounting Italian debt crisis were not enough, European voters will also go to the polls to decide whether to hand over the reins of the EU to nationalists who would destroy it from within. …Read More