971

resultat

Ord
Publikationstyp
Författare
Sökord
Datum

European Stability Mechanism – Main Features, Instruments and Accountability

11-10-2019

This document presents the main features of the European Stability Mechanism (ESM), including governance, capital structure and funding sources, main lending instruments, as well as its oversight and accountability framework. It also reviews recent proposals and contributions on the possible evolution of the ESM. This note is regularly updated.

This document presents the main features of the European Stability Mechanism (ESM), including governance, capital structure and funding sources, main lending instruments, as well as its oversight and accountability framework. It also reviews recent proposals and contributions on the possible evolution of the ESM. This note is regularly updated.

The 2019 proposed amendments to the Treaty establishing the European Stability Mechanism

11-10-2019

This document presents the proposed amendments to the Treaty establishing the European Stability Mechanism, following the decisions taken by the Eurogroup and the June 2019 Euro Summit. It complements an EGOV briefing on the ESM features, instruments and accountability. The note outlines the relevant changes and provides a comparison between the current ESM Treaty and the proposed amended one.

This document presents the proposed amendments to the Treaty establishing the European Stability Mechanism, following the decisions taken by the Eurogroup and the June 2019 Euro Summit. It complements an EGOV briefing on the ESM features, instruments and accountability. The note outlines the relevant changes and provides a comparison between the current ESM Treaty and the proposed amended one.

Towards a fundamental re-design of Banks’ Stress Tests in the EU?

04-10-2019

On 26 September 2019, Andrea Enria, Chair of the European Central Bank’s Supervisory Board, gave a speech on the future of stress testing (“The future of stress testing – realism, relevance and resources”) in which he outlined a proposal on how to achieve meaningful progress with a view to make the tests both more realistic and more relevant, with fewer resources required. Andrea Enria’s proposals involve a decisive re-design of the stress test exercise. Stress tests are currently carried out using ...

On 26 September 2019, Andrea Enria, Chair of the European Central Bank’s Supervisory Board, gave a speech on the future of stress testing (“The future of stress testing – realism, relevance and resources”) in which he outlined a proposal on how to achieve meaningful progress with a view to make the tests both more realistic and more relevant, with fewer resources required. Andrea Enria’s proposals involve a decisive re-design of the stress test exercise. Stress tests are currently carried out using a “constrained bottom-up approach” whereby supervisory authorities ensure a quality check of models run by banks. It is suggested to split stress tests into a supervisory view (“top-down” approach along the lines of stress tests under Dodd-Frank in the US) and a “banks’ view” (bottom-up approach).

The role (and accountability) of the President of the Eurogroup

03-10-2019

This note provides an overview of the role of the President of the Eurogroup, the procedures for his/her appointment, as well as proposals on a “full time position” as part of the wider debate on deepening the Economic and Monetary Union. The note also briefly addresses the mandate and working methods of the Eurogroup. In addition, this note refers to the debate around the transparency of Eurogroup proceedings. It is updated regularly.

This note provides an overview of the role of the President of the Eurogroup, the procedures for his/her appointment, as well as proposals on a “full time position” as part of the wider debate on deepening the Economic and Monetary Union. The note also briefly addresses the mandate and working methods of the Eurogroup. In addition, this note refers to the debate around the transparency of Eurogroup proceedings. It is updated regularly.

The European Systemic Risk Board – systemic risk update, stress tests and work in progres

20-09-2019

This note is prepared in view of a regular public hearing with the Chair of the European Systemic Risk Board (ESRB), Mario Draghi, which will take place on 23 September 2019. The briefing provides an overview of recent actions by the ESRB, such as systemic risks identified, input for recent stress testing exercise, and assessment of compliance with public ESRB recommendations.

This note is prepared in view of a regular public hearing with the Chair of the European Systemic Risk Board (ESRB), Mario Draghi, which will take place on 23 September 2019. The briefing provides an overview of recent actions by the ESRB, such as systemic risks identified, input for recent stress testing exercise, and assessment of compliance with public ESRB recommendations.

The European Systemic Risk Board – Main features, mandate and accountability

19-09-2019

This briefing provides an overview of the European Systemic Risk Board (ESRB), its’ main features, mandate and accountability. It also includes the overview of recent review of the ESRB mission, mandate and organisation as part of the review of European System of Financial Supervision.

This briefing provides an overview of the European Systemic Risk Board (ESRB), its’ main features, mandate and accountability. It also includes the overview of recent review of the ESRB mission, mandate and organisation as part of the review of European System of Financial Supervision.

Achievements and innovations under Mr Draghi’s Presidency and challenges ahead

16-09-2019

For the September 2019 session of the Monetary Dialogue, the Committee on Economic and Monetary Affairs (ECON) tasked monetary experts to analyse achievements of Mr Draghi's Presidency of the European Central Bank and identify challenges for the future architecture of the Economic and Monetary Union (EMU). This note, prepared by Policy department A, gives an overview of in-depth analyses prepared by the experts.

For the September 2019 session of the Monetary Dialogue, the Committee on Economic and Monetary Affairs (ECON) tasked monetary experts to analyse achievements of Mr Draghi's Presidency of the European Central Bank and identify challenges for the future architecture of the Economic and Monetary Union (EMU). This note, prepared by Policy department A, gives an overview of in-depth analyses prepared by the experts.

Below-target inflation and subdued growth in the euro area and elsewhere: implications for monetary policy

16-09-2019

Committee on Economic and Monetary Affairs (ECON) requested monetary experts to analyse implications of below-target inflation and subdued growth in the the euro area for monetary policy. This note, drawn up by Policy department A, gives an overview of in-depth analyses prepared by the experts for the Monetary Dialogue session which took place on 23 September 2019.

Committee on Economic and Monetary Affairs (ECON) requested monetary experts to analyse implications of below-target inflation and subdued growth in the the euro area for monetary policy. This note, drawn up by Policy department A, gives an overview of in-depth analyses prepared by the experts for the Monetary Dialogue session which took place on 23 September 2019.

Subdued Inflation, Targets and Monetary Policy Cooperation

16-09-2019

This paper examines the case that there has been a structural change in the determination of inflation in the EU (and elsewhere) that has led to a low real-wages, low inflation, slow productivity growth regime. In fact, there appears to have been no structural change. Instead, there has been a marked convergence between the performance of those variables in national economies. The implication is that there is little scope for greater monetary coordination in the conventional sense, or adjusting the ...

This paper examines the case that there has been a structural change in the determination of inflation in the EU (and elsewhere) that has led to a low real-wages, low inflation, slow productivity growth regime. In fact, there appears to have been no structural change. Instead, there has been a marked convergence between the performance of those variables in national economies. The implication is that there is little scope for greater monetary coordination in the conventional sense, or adjusting the monetary rules (e.g., targets), since this uniformity is the origin of the low inflation problem. Outcomes can be improved with better coordination of monetary policy with non-monetary variables. There are two lines of attack. One is a short term approach using conventional instruments (monetary-fiscal, structural or labour market reforms, improving policymakers’ credibility). The other is a long term approach based on improved income distribution, a better distribution of the gains from productivity growth, and stabilisation by means of an external anchor (exchange rate).

Extern avdelning

Andrew Hughes Hallett

Draghi’s Term as ECB President and the Challenges Ahead

16-09-2019

Mario Draghi took over as ECB President at a time of recession for the euro area economy and widespread concerns about whether the euro project could be sustained. The years since have seen an easing of fears of the euro breaking up and the economy recover without triggering inflation above its target level. As such, his presidency must be judged a success. Draghi’s achievements go beyond the successful implementation of monetary policy. He also played a key role in encouraging Banking Union and ...

Mario Draghi took over as ECB President at a time of recession for the euro area economy and widespread concerns about whether the euro project could be sustained. The years since have seen an easing of fears of the euro breaking up and the economy recover without triggering inflation above its target level. As such, his presidency must be judged a success. Draghi’s achievements go beyond the successful implementation of monetary policy. He also played a key role in encouraging Banking Union and other important institutional reforms. The new ECB President faces a difficult set of challenges. The ECB is not meeting its inflation target; inflation expectations are falling; and there are signs of economic weakness. Like Draghi, the next President will require strong communications, diplomatic and political skills to face these challenges successfully.

Extern avdelning

Karl Whelan

Kommande evenemang

16-10-2019
State of the Union: The view from regions and cities
Övrigt -
EPRS
17-10-2019
What Europe is Thinking: The latest Pew survey of opinion in 14 EU Member States
Övrigt -
EPRS

Partner

Håll dig informerad

email update imageE-postuppdateringar

Du kan följa vem eller vad som helst som har med parlamentet att göra med hjälp av systemet med e-postuppdateringar, som ger dig uppdateringar direkt till din inbox. Bl.a. kan du få senaste nytt från ledamöterna, nyhetstjänsterna eller Think Tank.

Du kommer åt systemet från alla sidor på parlamentets webbplats. Vill du anmäla dig och börja ta emot uppdateringarna från Think Tank anger du bara din e-post, vad du är intresserad av och hur ofta du vill få notiserna (varje dag, vecka eller månad) och bekräftar sedan genom att klicka på den länk som skickas till dig i bekräftelsemejlet.

RSS imageRSS-flöden

Följ alla nyheter och uppdateringar på Europaparlamentets webbplats med våra RSS-flöden.

Klicka på länken nedan för att konfigurera dina flöden.