Parliamentary Testimony

EU-UK future constitutional relationship

Bruegel's Director, Guntram Wolff, was invited to speak at the European Parliament's Committee on Constitutional Affairs on 29 September 2016.

By: Date: October 4, 2016 Topic: European Parliament

The Committee on Constitutional Affairs held an exchange of views on the future constitutional relationship of the United Kingdom with the European Union after the June 23 referendum in the UK.

Watch the video recording

 


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External Publication

European Parliament

EU funds for migration, asylum and integration policies

This study provides an overview, analysis and evaluation of how EU funds for migration, asylum and integration policies have been used. Using publicly available information, insights from interviews with various stakeholders and a survey of non-governmental organisations (NGOs), the authors evaluate the allocation, implementation and oversight of EU funds.

By: Francesco Chiacchio, Zsolt Darvas, Konstantinos Efstathiou, Inês Goncalves Raposo and Guntram B. Wolff Topic: European Macroeconomics & Governance, European Parliament, Testimonies Date: May 23, 2018
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External Publication

European Parliament

Cash outflows in crisis scenarios: do liquidity requirements and reporting obligations give the SRB sufficient time to react?

Bank failures have multiple causes though they are typically precipitated by a rapidly unfolding funding crisis. The European Union’s new prudential liquidity requirements offer some safeguards against risky funding models, but will not prevent such scenarios. The speed of events seen in the 2017 resolution of a Spanish bank offers a number of lessons for the further strengthening of the resolution framework within the euro area, in particular in terms of inter-agency coordination, the use of payments moratoria and funding of the resolution process.

By: Alexander Lehmann Topic: European Parliament, Finance & Financial Regulation, Testimonies Date: March 28, 2018
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Parliamentary Testimony

Riksdag - Swedish Parliament

Future of EMU

On 8 March 2018, Guntram B. Wolff discussed the opportunity and options to upgrade the European Monetary Union in his Testimony at the Swedish Parliament’s – Committee on Finance. The author is analysing the current situation of the EMU and make recommendations on how and why stability mechanism should be implemented.

By: Guntram B. Wolff Topic: Riksdag - Swedish Parliament, Testimonies Date: March 9, 2018
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Parliamentary Testimony

House of Commons

Post-Brexit migration policy

On 27 February 2018 Zsolt Darvas testified at the Home Affairs Committee of the House of Commons. This inquiry explores the potential trade-offs between economic integration and migration policy, and the UK and EU’s approach to the negotiations.

By: Zsolt Darvas Topic: House of Commons, Testimonies Date: March 9, 2018
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External Publication

European Parliament

Note on the interactions between payment systems and monetary policy

This paper analyses the interactions between, on one hand, monetary policy and financial stability responsibilities of the ECB and, on the other hand, Post-Trading-Financial Market Infrastructures. In the author's opinion, payment Systems are critical for monetary policy while Central Counter Parties (CCPs) are critical for financial stability. However, in stressed conditions CCPs can be the source of risks also for monetary policy.

By: Francesco Papadia Topic: European Parliament, Finance & Financial Regulation, Testimonies Date: February 26, 2018
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Policy Contribution

European Parliament

Bank liquidation in the European Union: clarification needed

Critical functions and public interest. What role do they play in Member States’ decision to grant liquidation aid? The author of this paper looks at how resolution and liquidation differ substantially when it comes to the scope of legislation applicable to the use of public funds and how the diversity in national insolvency regimes is a source of uncertainty about the outcome of liquidation procedures.

By: Silvia Merler Topic: European Macroeconomics & Governance, European Parliament, Finance & Financial Regulation, Testimonies Date: January 10, 2018
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External Publication

European Parliament

The Impact of Brexit on the EU Energy System

What will be the impact of Brexit on the EU energy system? With or without the UK, the EU will be able to complete its market, to achieve its climate and energy targets with feasible readjustments, and to maintain supply security

By: Gustav Fredriksson, Alexander Roth, Simone Tagliapietra and Georg Zachmann Topic: Energy & Climate, European Macroeconomics & Governance, European Parliament, Testimonies Date: December 19, 2017
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External Publication

European Parliament

Critical functions and public interest in banking services: Need for clarification?

What is the role that the concepts of critical functions and public interest play in Member States’ decision to grant liquidation aid? Silvia Merler looks at the recent liquidation of two Italian banks to show how resolution and liquidation differ substantially when it comes to the scope of legislation applicable to the use of public funds.

By: Silvia Merler Topic: European Macroeconomics & Governance, European Parliament, Finance & Financial Regulation, Testimonies Date: December 18, 2017
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Policy Contribution

European Parliament

How should the European Central Bank ‘normalise’ its monetary policy?

During the crisis, the ECB resorted to a number of unconventional monetary tools. This paper discusses how to phase out these policies and what the ‘new normal’ in monetary policy should look like.

By: Grégory Claeys and Maria Demertzis Topic: European Macroeconomics & Governance, European Parliament, Testimonies Date: November 23, 2017
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Parliamentary Testimony

Croatian Parliament

After the crisis: what new lessons for euro adoption?

Key learning for euro adoption lies within the experience of southern euro member states and the macroeconomic performance of euro ‘ins’ and ‘outs’ among newer member states. Zsolt Darvas discusses promising signs for eventual euro adoption in Croatia and the unsuitability of the Maastricht fiscal criteria for joining the euro, in his speech delivered at an event organised in the Croatian Parliament on 15 November 2017

By: Zsolt Darvas Topic: Croatian Parliament, European Macroeconomics & Governance, Testimonies Date: November 20, 2017
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External Publication

European Parliament

Sovereign Concentration Charges: A New Regime for Banks’ Sovereign Exposures

Europe’s banking union has been central to the resolution of the euro-area crisis. It has had an encouraging start but remains unfinished business. If it remains in its current halfway-house condition, it may eventually move backwards and fail. EU leaders should seize these opportunities

By: Nicolas Véron Topic: European Macroeconomics & Governance, European Parliament Date: November 17, 2017
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External Publication

European Parliament

The single monetary policy and its decentralised implementation: An assessment

This paper assesses the decentralised implementation of monetary policy by the Eurosystem in terms of its transparency, efficiency and simplicity. Compared to the Fed, the Eurosystem seems to have higher staff numbers and operational costs for similar tasks.

By: Francesco Papadia and Alexander Roth Topic: European Macroeconomics & Governance, European Parliament, Testimonies Date: October 4, 2017
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