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European Economic Forecast, Spring 2014

European Commission (2014) “European Economic Forecast, Spring 2014“, Directorate-General for Economic and Financial Affairs, May: Brussels.   The EU economic outlook is strengthening. While leading indicators point to GDP growth gaining momentum in the near term, the conditions for a sustained recovery in the medium term are also improving. In view of the crisis legacy, growth is still set to remain moderate, but a gradual easing of the drag related …Read More

The Single Market and Cohesion Policy Dyad: Battered by the Crisis and Globalisation

Jouen, Μ. (2014) “The Single Market and Cohesion Policy Dyad: Battered by the Crisis and Globalisation”, Notre Europe Policy Papers, 28 April.   This Policy Paper by Marjorie Jouen aims at understanding the current relationship between the policy to reduce regional and social disparities and the one aimed at ensuring the opening of European markets. Part 1 recalls the nature of the strong bond between these policies for over twenty …Read More

What are the effects of the EU budget: Driving force or drop in the ocean?

Núñez-Ferrer, J. & Katarivas, M. (2014) “What are the effects of the EU budget: Driving force or drop in the ocean?”, CEPS Special Reports, Economic Policy, 28 April.   The study presents an overview of the impact of the main investment tools of the EU budget. The focus is on the increasing role of the financial instruments, which are fundamentally changing the budget’s nature and reach. Through these instruments, the …Read More

The IMF’s preferred creditor status: Questions after the Eurozone crisis

Schadler, S. (2014) “The IMF’s preferred creditor status: Questions after the Eurozone crisis”, VoxEU Organisation, 28 April.   The IMF has had a preferred creditor status throughout the history of its lending. This implies that borrowing countries are expected to give priority to meeting their obligations to the IMF over other creditors. This column reviews the onset of this preferred status, its purpose, and the way it changed after the …Read More

Shrinking times – ECB excess liquidity falls below €100 billion

Merler, S. (2014) “Shrinking times – ECB excess liquidity falls below €100 billion”, Bruegel Think Tank, 24 April   Over the last 5 years, the Eurozone financial system has been flooded with liquidity, due to the ECB’s very special response to the very special bank-sovereign euro crisis. In 2008, faced with an almost frozen interbank market, the ECB changed the way it allocates the Central Bank’s funds, introducing a policy …Read More

European Banking Union: Status of Implementation and the Need for Improvement

Bauer, M. & Demary, M. (2014) “European Banking Union: Status of Implementation and the Need for Improvement“, Konrand Adenauer Stiftung, 23 April.   The crisis in the euro area revealed points of weakness in the architecture of the Monetary Union. It appeared that the common monetary policy also required a common system of banking supervision. This report summarises the current proposals and decisions regarding the Banking Union and evaluates the …Read More

Global value chains in the current trade slowdown

Ferrantino, J. M. & Taglioni, D. (2014) “Global value chains in the current trade slowdown”, VoxEU Organisation, 06 April.   Recent growth in trade has decelerated significantly since its sharp recovery in 2010. This column discusses the role of global value chains in international trade and their contribution to the trade slowdown. Trade in complex products organised by global value chains, in particular motor vehicles, has been more sensitive to …Read More

The Price is Wrong

Fatas, A. (2014) “The Price is Wrong”, Antonio Fatas on the Global Economy Blog, 14 April.   The Euro area inflation came lower than expected in March and this has raised concerns about deflation (or “lowflation” as labelled by the IMF). In today’s Financial Times, Jurgen Stark, a former ECB board member argues that deflation or low inflation is not a problem. One of his arguments is that there are …Read More

A black cloud over the EU?

Sakalis, A. (2014) “A black cloud over the EU?”, Euro Crisis in the Press, LSE, 14 April.   The newly announced Le Pen-Wilders alliance in the European parliament has re-ignited speculation about the rise of the far-right in Europe. What can we expect from this new EU supergroup? The recent success of the Front National in French local elections, as well as the announcement of a Le Pen-Wilders alliance in …Read More

A success story for the EU and seasonal workers’ rights without reinventing the wheel

Lazarowicsz, A. (2014) “A success story for the EU and seasonal workers’ rights without reinventing the wheel“, European Policy Centre (EPC) Publications, 28 March.   Despite the economic crisis with resulting high unemployment, EU economies face vacancies across the skill spectrum. At the low end there is a structural need when it comes to seasonal work. The Seasonal Workers Directive was launched at the same time as the Inter-Corporate Transferees …Read More