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Recommendations on the economic policy of the euro area under the 2019 European Semester - November 2019

13-11-2019

This note looks at the recommendations on the economic policies of the euro area adopted by the Council in 2019, upon proposal of the Commission. Its scope is to assess their follow up, making use of proxies such as on how Eurogroup has integrated euro area recommendations concerns in their “thematic discussions” and its work programmes, as well as Commission’s assessment. In addition, the note provides an institutional perspective of the euro area recommendations, in particular the process setting ...

This note looks at the recommendations on the economic policies of the euro area adopted by the Council in 2019, upon proposal of the Commission. Its scope is to assess their follow up, making use of proxies such as on how Eurogroup has integrated euro area recommendations concerns in their “thematic discussions” and its work programmes, as well as Commission’s assessment. In addition, the note provides an institutional perspective of the euro area recommendations, in particular the process setting the 2019 euro area recommendations and includes broad comparisons to earlier recommendations, to illustrate how policy concerns have evolved over time. This note is regularly updated.

Commission work programme 2019

19-11-2018

This briefing is intended as a background overview for parliamentary committees planning their activities in relation to the European Commission's work programme 2019. It gives a brief description of the content of the work programme concentrating on the Commission's communication COM(2018)800 and its annexes.

This briefing is intended as a background overview for parliamentary committees planning their activities in relation to the European Commission's work programme 2019. It gives a brief description of the content of the work programme concentrating on the Commission's communication COM(2018)800 and its annexes.

Economic Dialogue with the President of the Eurogroup

19-11-2018

Mário Centeno, President of the Eurogroup since 13 January 2018, has been invited to a regular Economic Dialogue, notably in accordance with Article 2ab of Regulation 1466/97 as amended. This briefing provides an overview of the ongoing work of the Eurogroup as regards Council recommendations to the Euro Area as a whole, public finances, macro-economic imbalances, financial adjustment programmes and the banking union. As the President of the Eurogroup, Mr Centeno has also been appointed as Chairman ...

Mário Centeno, President of the Eurogroup since 13 January 2018, has been invited to a regular Economic Dialogue, notably in accordance with Article 2ab of Regulation 1466/97 as amended. This briefing provides an overview of the ongoing work of the Eurogroup as regards Council recommendations to the Euro Area as a whole, public finances, macro-economic imbalances, financial adjustment programmes and the banking union. As the President of the Eurogroup, Mr Centeno has also been appointed as Chairman of the Board of Governors of the European Stability Mechanism. On 19 November, the Eurogroup met to discuss ways to strengthen the governance framework of the EMU. For a separate overview of the role of the President of the Eurogroup, please see separate EGOV briefing.

The State of the Union [What Think Tanks are thinking]

07-09-2018

The President of the European Commission, Jean-Claude Juncker, will deliver his last State of the Union address to the European Parliament on Wednesday 12 September, a little more than eight months before the next European elections. In this annual speech in Strasbourg, President Juncker is expected to take stock of the state of play on his ten priorities for the 2014-2019 political cycle and present his remaining initiatives on building a 'more united, stronger and more democratic Union'. Juncker ...

The President of the European Commission, Jean-Claude Juncker, will deliver his last State of the Union address to the European Parliament on Wednesday 12 September, a little more than eight months before the next European elections. In this annual speech in Strasbourg, President Juncker is expected to take stock of the state of play on his ten priorities for the 2014-2019 political cycle and present his remaining initiatives on building a 'more united, stronger and more democratic Union'. Juncker’s 2017 address was marked by cautious optimism: since then, whilst the European economy has continued to recover, several other challenges have proved persistent. This note offers a selection of links to commentaries, studies and reports from major international think tanks on the state of the EU and possible reforms. Brexit-related publications can be found in a previous edition of 'What Think Tanks are thinking’ from July 2018. Papers on migration are available in an earlier edition in this series, published in June. Those on euro-zone reform appear in a previous publication in June.

The Impact of the UK’s Withdrawal on EU Integration

09-07-2018

This study, commissioned by the European Parliament’s Policy Department for Citizens’ Rights and Constitutional Affairs at the request of the AFCO Committee, examines the potential effects of the UK’s withdrawal on European integration. It does so by examining the UK’s role in pushing forward and/or blocking integration in five areas: the internal market; social policy; freedom, security and justice; the Eurozone; and foreign, security and defence.

This study, commissioned by the European Parliament’s Policy Department for Citizens’ Rights and Constitutional Affairs at the request of the AFCO Committee, examines the potential effects of the UK’s withdrawal on European integration. It does so by examining the UK’s role in pushing forward and/or blocking integration in five areas: the internal market; social policy; freedom, security and justice; the Eurozone; and foreign, security and defence.

Autore esterno

Dr Tim OLIVER Dr Garvan WALSHE Professor Catherine BARNARD Professor Linda HANTRAIS Professor Matthias MATTHIJS Professor Steven PEERS

The ESM and the proposed EMF: a tabular comparison

14-06-2018

This paper presents some aspects of the draft Council Regulation on the establishment of a European Monetary Fund, proposed by the Commission in the context of the Roadmap to deepening Europe’s Economic and Monetary Union of December 2017. The paper includes a full comparison between the European Stabilisation Mechanism (ESM) Treaty and the Statute of the proposed EMF.

This paper presents some aspects of the draft Council Regulation on the establishment of a European Monetary Fund, proposed by the Commission in the context of the Roadmap to deepening Europe’s Economic and Monetary Union of December 2017. The paper includes a full comparison between the European Stabilisation Mechanism (ESM) Treaty and the Statute of the proposed EMF.

The Future of Europe [What Think Tanks are thinking]

20-04-2018

The tone of the debate on the Future of Europe and possible institutional reforms of the European Union has shifted from gloomy to more optimistic, thanks to a developing economic recovery, the easing of the migration crisis, the failure of anti-EU forces to make decisive gains in some recent elections, and the general progress of the Brexit talks. Still, many analysts and politicians warn against complacency, as anti-establishment political parties continue to gain traction with some voters, as ...

The tone of the debate on the Future of Europe and possible institutional reforms of the European Union has shifted from gloomy to more optimistic, thanks to a developing economic recovery, the easing of the migration crisis, the failure of anti-EU forces to make decisive gains in some recent elections, and the general progress of the Brexit talks. Still, many analysts and politicians warn against complacency, as anti-establishment political parties continue to gain traction with some voters, as concerns grow over the rule of law in some EU countries, and as the policies of, and relations between, the United States and Russia have become less predictable. There is also no agreement on how to overhaul the euro area to minimise the risk of a repeat of the 2008 crisis and to strengthen economic growth. This debate on the Future of Europe is set to intensify ahead of the 2019 European elections, the installation of the new Presidents of the European Commission and European Council, and the end of the EU’s current long-term budget in 2021. This note offers links to commentaries, studies and reports from major international think tanks on the state of the EU and possible reforms. Brexit-related publications can be found in a previous edition of ‘What Think Tanks are thinking.’ Earlier papers on the general state of the EU are available in another edition in this series, published in September 2017. More reports on euro zone reforms are also gathered in another in the series, from December 2017.

Sviluppi intervenuti sino all'Atto unico europeo

01-01-2018

I principali sviluppi che hanno interessato i primi trattati istitutivi riguardano la creazione di risorse proprie della Comunità, il rafforzamento dei poteri di bilancio del Parlamento, l'elezione a suffragio universale diretto dei deputati europei e l'istituzione del Sistema monetario europeo. L'entrata in vigore dell'Atto unico europeo, nel 1986, ha modificato in modo sostanziale il trattato di Roma e ha rafforzato l'integrazione europea attraverso la creazione di un vasto mercato interno.

I principali sviluppi che hanno interessato i primi trattati istitutivi riguardano la creazione di risorse proprie della Comunità, il rafforzamento dei poteri di bilancio del Parlamento, l'elezione a suffragio universale diretto dei deputati europei e l'istituzione del Sistema monetario europeo. L'entrata in vigore dell'Atto unico europeo, nel 1986, ha modificato in modo sostanziale il trattato di Roma e ha rafforzato l'integrazione europea attraverso la creazione di un vasto mercato interno.

EU single market:Boosting growth and jobs in the EU

22-11-2017

The single market constitutes the largest barrier-free, common economic space in the industrialised world, encompassing over half a billion citizens in an economy with a gross domestic product (GDP) of some €13 trillion. Since its creation the single market has added 2.2 % to the EU gross domestic product (GDP), increased employment by 2.8 million, and promoted inward investment into the EU economy. Delivering and completing the existing single market could potentially allow for a €651 billion additional ...

The single market constitutes the largest barrier-free, common economic space in the industrialised world, encompassing over half a billion citizens in an economy with a gross domestic product (GDP) of some €13 trillion. Since its creation the single market has added 2.2 % to the EU gross domestic product (GDP), increased employment by 2.8 million, and promoted inward investment into the EU economy. Delivering and completing the existing single market could potentially allow for a €651 billion additional benefit per year.

Looking at US experience in view of deepening EMU

24-10-2017

Although the fiscal frameworks of the United States of America and the European Union were set up during different historic periods, had different economic drivers and are at different stages of development, the euro area can learn from the US experience. For instance, recent research suggests that one useful element might be to earmark revenue, i.e. to pre-identify sources of revenue to be directed to fund those policies that are better dealt with at EU level, so that there is a direct link between ...

Although the fiscal frameworks of the United States of America and the European Union were set up during different historic periods, had different economic drivers and are at different stages of development, the euro area can learn from the US experience. For instance, recent research suggests that one useful element might be to earmark revenue, i.e. to pre-identify sources of revenue to be directed to fund those policies that are better dealt with at EU level, so that there is a direct link between revenue collected and issues solved. 'Trust fund' structures of this type can be financed by means of explicit user fees (e.g. for visas), fees on related use items (e.g. air or sea fare tickets) or broad-based taxes (e.g. income, payroll or consumption tax). Other research in this area focuses on the factors behind the contrasting experiences of the United States and the euro area during the financial crisis as regards consumption smoothing or resilience to shocks. Research shows that the role of automatic stabilisation in US fiscal policy, including that of unemployment insurance, has been overstated and that other factors should be taken into account to explain the United States' resilience during the crisis. When it comes to resilience to shocks, the contrasting experience of the euro area cannot meanwhile be attributed wholly to the fact that market-based risk-sharing is higher in the United States, but weight must also be given to measures, such as the interventions of the Federal Deposit Insurance Corporation to protect deposits, or ad hoc policy interventions by the Federal Reserve and Congress, such as the action plan to avoid the default of Fannie Mae and Freddie Mac.

Prossimi eventi

20-11-2019
Europe's Future: Where next for EU institutional Reform?
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