Aubrey, T., (2013), “Making Markets Work”, Policy Network, October. How Effective Regulation Reduces Reliance on Taxation The complacency with which an ever increasing amount of tax payers’ money was used to counter the worst excesses of the market has weakened centre-left parties in the fall-out from the financial crisis. This form of redress is not only no longer politically viable, but it also fails to address the underlying cause of …Read More

Delbecque, B., (2013), “Proposal for a Stabilisation Fund for the EMU”, Centre for European Policy Studies, Working Paper No.385, 14 October. This paper argues that it should be possible to complement Europe’s Economic and Monetary Union with an insurance-type shock absorption mechanism to increase the resilience of member countries to economic shocks and reduce output volatility. Such a mechanism would neither require the establishment of a central authority, nor would …Read More

Ubide, A., (2013), “How to form a more perfect European Banking Union”, Peterson Institute for International Economics, Policy Brief, PB13-23, October. The euro area has made significant strides in the last six months in designing a banking union. The goal has been to centralize supervisory decision making and improve the management of failing banks while protecting European taxpayers and imposing costs on creditors through so-called bail-ins to reduce moral hazard. …Read More

Fernandes, S. and Maslauskaite, K., (2013), “A social dimension for the EMU: why and how?”, Notre Europe Jacques Delors Institute, Policy Paper 98, September. The debate on a social dimension for the Economic and Monetary Union (EMU) is not a new one, yet social considerations have been put on the top of the European political agenda again in the context of deep economic recession and of the reform of EMU’s …Read More

Darvas, Z., (2013), “The euro area’s tightrope walk: debt and competitiveness in Italy and Spain”, www.bruegel.org, 3 September. Competitiveness adjustment in struggling southern euro-area members requires persistently lower inflation than in major trading partners, but low inflation worsens public debt sustainability. When average euro-area inflation undershoots the two percent target, the conflict between intra-euro relative price adjustment and debt sustainability is more severe.