Financial regulation

Climate change, the next big financial threat

A warming planet poses new risks to European sovereign debt. How can the continent protect itself?

Use the financial system to enforce export controls on Russia

Prohibition of Western tech exports to Russia is not working; rapid measures are needed to tighten up

Broader border taxes: a new option for European Union budget resources

The purpose of this paper is to review the Commission’s proposal and to contribute new ideas for ‘genuine’ own resources

The European Central Bank, inflation tolerance and the last mile

The European Central Bank’s timid operational framework update

The European Central Bank announced limited changes to its operational framework – which is probably right given current uncertainty

The EU’s ambitions: scale, strategic investments and skills

Ten years of Europe’s banking union

How far along is Europe’s banking union, and what is next?

China’s third attempt to internationalise its currency

What will happen if China manages to strengthen the RMB?

The limits of the effectiveness of EU sanctions on Russia

To unblock fiscal rule reform, the EU should reinstate its excessive deficit procedure

Reapplying the excessive deficit procedure could create space for European Union countries to decide on longer-term rule change

Capital Markets Union, or else what?

European Union debt financing: leeway and barriers from a legal perspective

The paper investigates the legal feasibility of the EU borrowing on the capital market to finance European public goods.

The Russian war economy: macroeconomic performance

The Russian economy has performed better than many expected since the war in Ukraine started, though the financial burden will be felt for some time.