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This digest provides a collection of documents prepared by the academia, think tanks, other EU institutions and bodies, as well as stakeholders that can be useful for Members of the European Parliament’s Committee on Budgets to stay informed about the debate concerning the next Multiannual Financial Framework, starting in 2028. The document is produced monthly by the Budgetary Support Unit of DG BUDG and the European Parliamentary Research Service.

The cost of banking regulation and the supervisory framework for banks feature prominently in the debate over EU competitiveness. The strong regulation and supervision implemented after the great financial crisis are generally considered a positive for the EU economy, but in the context of the notion of simplification, a discussion is ongoing whether cost reduction is possible without deregulation. To support parliamentary scrutiny of the Single Supervisory Mechanism (SSM), this briefing analyses ...

The workshop on the 28th legal regime was held on June 5, 2025 on request of the JURI Committee. Experts presented their findings on various aspects of the establishment of the 28th regime, including hurdles currently experienced by EU companies, EU competences to introduce the 28th regime, necessary safeguards, simplification of registration of companies, and the scope of the 28th regime. The workshop also included an intervention on behalf of the European Commission and the European Economic ...

This study examines the difficulties encountered by the EU in harmonising company law, notwithstanding the considerable expectations of economic operators. It reviews the limitations of earlier initiatives (e.g. the European company (SE), European private company (SPE) and single-member private limited-liability company (SUP)) – whether successful or not – and seeks to draw upon the successful model of the Organisation for the Harmonisation of Business Law in Africa (OHADA). It underscores the importance ...

This in-depth analysis, commissioned by the Policy Department for Justice, Civil Liberties and Institutional Affairs at the request of the European Parliament’s JURI committee, should be seen in the context of the development of a 28th legal regime, enabling innovative SMEs and start-ups to overcome the fragmentation of the internal market. To what extent can corporate law, insolvency, labour law or taxation in particular be harmonised by one or more voluntary instruments?

This digest provides a collection of documents prepared by academia, think tanks, other EU institutions and bodies, as well as stakeholders, that can be useful for Members of the European Parliament’s Committee on Budgets to stay informed about the debate concerning the next Multiannual Financial Framework, starting in 2028. The document is produced on a monthly basis by the Budgetary Support Unit of DG BUDG and the European Parliamentary Research Service.

'Securitisation' consists of banks 'pooling' granted loans (e.g. mortgages and consumption loans) into a single tradable security, which is sold to other investors under specific conditions. Securitisation allows banks to 'off-load' part of their granted loans, thereby augmenting their lending capacities as well as swiftly modifying their portfolio risk exposure. Securitisation markets boomed in the 2000s and were identified as the main cause of the 2007-2008 financial crisis. The post-crisis regulation ...

The current US administration promotes dollar-backed stablecoins—privately issued and supported by US debt—to reinforce dollar dominance worldwide, a strategy we dub “cryptomercantilism.” This report studies the EU’s 2024 Markets in Crypto Assets Regulation (MiCAR) and its safeguards for the EU’s monetary sovereignty. It also compares MiCAR to the proposed GENIUS Act in the US. Under existing policies, USD stablecoins create severe risks for third countries, indirectly also affecting the EU. The ...

In this paper, we analyse potential impacts that dollar-denominated stablecoins could have on monetary policy. We also consider related questions about the introduction of the digital euro. Based on our findings, the adoption of stablecoins in Europe is unlikely to be large-scale without state support. The development of the digital euro with full state and central bank backing is more likely to succeed. To be a viable alternative to private payment options, the digital euro needs to be carefully ...

In this paper, we review the recent economic outlook, policy decisions and communication of the ECB against the backdrop of growing uncertainty. First, inflation heterogeneity has receded with inflation, thus contributing to facilitating the design of monetary policy. Second, monetary easing is somewhat dampened by the reduction in ECB’s balance sheet. Third, ECB has chosen to foreground uncertainty more explicitly in its public-facing communication, potentially as a tool to manage expectations and ...