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This study examines the problem of Missing Trader Intra-Community (MTIC) Fraud, the nature and scale of its impact on the EU’s finances, and potential solutions. The solutions that are assessed are: Split Payment Methods, Electronic Clearance Procedure (a digital solution), Real-Time Reporting (and TX++), VAT Coin, and the Definitive VAT system (and proposed amendments). Recommendations are made regarding the most appropriate solution.

On 26 July 2012, then ECB President Mario Draghi gave the so-called “whatever it takes” speech, today widely considered as the turnaround point in the European sovereign debt crisis. Shortly after, the European Central Bank (ECB) announced the details of its outright monetary transactions programme (OMT) tool. The speech, together with the OMT announcement, were enough to remove re-denomination risk from sovereign bond markets. OMT was never actually used. 10 years after, in a context of record-high ...

A workshop was organised for the Budgets committee (BUDG) on "The EU borrowing strategy for NGEU: design, challenges and opportunities" on 27 October 2021. This document consists of an In-depth analysis by Bruegel entitled "Next Generation EU borrowing: a first assessment", a policy paper by Sebastian Mack entitled "Don't change horses in midstream: how to make NGEU bonds the euro area's safe asset", biographies of the speakers and the Power Point slides of the Bruegel presentation.

The war in Ukraine, overlapping with the lingering effects of the COVID-19 pandemic, is causing a significant economic impact on the euro area economy. On the rise since mid-2021, annual headline inflation in the euro area surpassed 8% in May 2022. Previously driven mainly by increasing energy prices and supply chain bottlenecks, inflationary pressure is becoming more persistent and broad-based. The European Central Bank (ECB) is now facing a difficult challenge: commencing a monetary policy tightening ...

This study explores social challenges and policy responses in EU cities in the context of the COVID-19 pandemic. It demonstrates that the pandemic has placed additional pressures on vulnerable groups and the institutions that work to support them. It finds that the local policy capacity to respond to the crisis has differed across cities and multi-level governance settings. Participatory and integrated policy efforts have often failed to meet the expectations of urban citizens and stakeholders. To ...

In order to provide the Members of the Budgetary Control Committee with reliable information and data on the COVID-19 response of the EU public administration, the study analyses the EU institutions’ response, their business continuity measures and their impact on the budget from 2020 onwards and staff of the respective institution. Furthermore, the study provides an overview of practices and challenges around the new working modalities EU institutions are adopting for the post-pandemic future, as ...

This study, commissioned by the European Parliament's Policy Department for Citizens' Rights and Constitutional Affairs at the request of the AFCO Committee, analyses the evolutions of the modes of governance at EU level. It shows that the so-called Community method has undergone a double evolution towards more intergovernmentalism, on the one hand, and more parliamentarisation, on the other. In particular, in recent years, the first trend has dominated. The study proposes solutions to defend the ...

This study examines the progress that the European Schools System has made during the past decade and overviews its state of affairs as of 2022. The educational dimension of the study focuses on questions related to teaching and learning, while the operational one concentrates on the administrative and managerial sides of the system. The study pinpoints the key challenges that the system currently faces and provides tailored recommendations on how to overcome them.

Genome editing is a powerful new tool allowing precise additions, deletions and substitutions in the genome. The development of new approaches has made editing of the genome much more precise, efficient, flexible, and less expensive, relative to previous strategies. As with other medical advances, each such application comes with its own set of benefits, risks, ethical issues and societal implications, which may require new regulatory frameworks. Important questions raised with respect to genome ...

Many financial institutions have warned that the transition to a low-carbon economy could cause a major shock to fossil fuel valuation, with the potential for systemic risk. This paper discusses disclosure commitments and empirical evidence in order to gauge the exposure of banks towards fossil fuel assets as well as the consequent implications for banks’ balance sheets and for financial stability.