Monetary Policy and Banking Supervision: Coordination instead of separation

12 December, 2012

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Thorsten, Beck, Gros, Daniel, (2012), ‘Monetary Policy and Banking Supervision: Coordination instead of separation’, www.ceps.be, 12 December. Following the June 2012 European Council decision to place the ‘Single Supervisory Mechanism’ (SSM) within the European Central Bank, the general presumption in the policy discussions has been that there should be ‘Chinese walls’ between the supervisory and monetary policy arms of the ECB. The current legislative proposal, in fact, is explicit on this …Read More

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National Expenditure Rules – Why, How and When

7 December, 2012

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Ayuso i Casals, Joaquim, (2012), ‘National Expenditure Rules – Why, How and When’, European Economy Economic Papers, N. 473. Expenditure rules present a number of features in terms of simplicity, transparency, monitoring and accountability that make them particularly appealing relative to other types of rules and may substantially contribute to an improved fiscal policy making. They also show an appropriate balance between budgetary discipline and macroeconomic stabilization. In turn, they …Read More

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The Quality of Public Expenditure in the EU

7 December, 2012

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European Commission, (2012), ‘The Quality of Public Expenditure in the EU’, European Economy Occasional Papers, N. 125. This report was requested by the Heads of State or Government on 28-29 June 2012 to monitor the impact of budget constraints on growth enhancing public expenditure and on public investments. The report (i) reviews trends in the composition of public expenditure in the EU amid the recent economic and financial crisis and …Read More

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A budget for Europe’s monetary union

7 December, 2012

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Wolff, Guntram B., (2012), ‘A budget for Europe’s monetary union’, Bruegel Policy Contribution, Issue 2012/22. In a monetary union, national fiscal deficits are of limited help to counteract deep recessions; union-wide support is needed. A common euro-area budget (1) should provide a temporary but significant transfer of resources in case of large regional shocks, (2) would be an instrument to counteract severe recessions in the area as a whole, and …Read More

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European labour market policies in (the) crisis

7 December, 2012

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Clasen, Jochen, Clegg, Daniel, Kvist Jon, (2012), ‘European labour market policies in (the) crisis’, The European Trade Union Institute Working Paper, 2012/12. Before the onset of the global economic crisis in 2008, the new millennium had been characterised by the gradual emergence of a new consensus around labour market policy reform in Europe. While in earlier decades labour market policy debates often opposed supporters and opponents of all forms of …Read More

Library » EU » Economy » Reports

he State of the European Union – The Failure of Austerity

5 December, 2012

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Garrido, Diego, (ed.), (2012), The State of the European Union – The Failure of Austerity, Fundacion Alternativas & Fiedrich-Ebert-Stiftung. The EU27 economic indicators for the end of 2012 therefore painted a bleak picture: soaring unemployment (10.8 per cent of the active population), a slip back into recession (–0.3 per cent GDP) and a growing public debt ratio (85 per cent). The scenario for the Eurozone was worse and even more …Read More

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Quarterly report on the euro area- 04/2012

4 December, 2012

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European Commission, (2012), Quarterly report on the euro area, 04/2012. In view of the central role that overheating housing markets played in previous years in a number of euro area Member States, the latest Quarterly Report on the Euro Area presents an analytical toolkit for assessing housing market imbalances. It is centred around an analysis of cyclical overvaluation of house prices based on a filtering approach. This notably allows unsustainable …Read More

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Smart choices for growth

28 November, 2012

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Ζachmann, George, (2012), ‘Smart choices for growth’, Bruegel, 28 November. Recovery in Greece, Italy, Portugal and Spain is held back in part by structural barriers. Overcoming these requires structural reform and public investment. Given the limited availability of political and financial capital, prioritising reform efforts and spending is important, but difficult. The different success factors for individual sectors are complementary. Using the example of the high-tech industry, we make the case …Read More

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The Upside of the Euro Crisis

28 November, 2012

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Vaisse, Justin, (2012), ‘The Upside of the Euro Crisis’, www.brookings.edu, 28 November. Since the beginning of the European debt crisis, most economists have focused on the potential consequences of a breakup of the euro zone. It’s easy to understand why. Although unlikely, a euro-zone breakup would be a potentially cataclysmic event that would leave the world economy in tatters.

Library » EU » Economy » Opinion Articles

Household Debt in Europe’s Periphery: The dangers of a prolonged recession

22 November, 2012

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Chmelar, Ales, (2012), ‘Household Debt in Europe’s Periphery: The dangers of a prolonged recession’, European Credit Research Institute, Commentary N.12. The second-dip recession in Europe’s periphery has created a poisonous mix, which risks threatening further the financial system and the economy. Against this background, this ECRI Commentary argues that time matters in the household deleveraging cycle and that a swift recovery is one of its most vital parts. The paper …Read More

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