Constancio, Vitor, (2017), “Resolving Europe’s NPL burden: challenges and benefits”, Bruegel, 3 February Keynote speech by Vítor Constâncio, Vice-President of the ECB, at Bruegel event: “Tackling Europe’s non-performing loans crisis: restructuring debt, reviving growth” Relevant Posts Anastasiou, Dimitrios , Louri, Helen, Tsionas, Mike, (2017), “Non-Performing Loans In The Euro Area: Are Core-Periphery Banking Markets Fragmented?”, Bank Of Greece, December 2016 European Central Bank, (2016), “Addressing market failures in the resolution of nonperforming …Read More

Lehmann, Alexander, (2017), “Will better insolvency standards help Europe’s debt deleveraging?”, Bruegel, 23 January Insolvency regimes in the euro area are on the whole costly, lengthy, and recover little value. A new directive proposed by the Commission sensibly aims to strengthen preventive restructuring and to give once-failed entrepreneurs a second chance. But to assist banks in their NPL workout judicial capacity will need to be built up, and regimes better …Read More

Thirion, Gilles, (2017), “European Fiscal Union: Economic rationale and design challenges”, CEPS, No. 2017-01, January 2017 Proposals for different types of elements of a fiscal union have flourished in recent years, both from academic and policy circles. Since a fiscal union could take a constellation of various different forms, this paper first provides an analytical framework pinpointing the five key elements of a fiscal union. It takes stock of the …Read More