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Policy Brief

European insurance union and how to get there

What are the arguments for and against centralisation of insurance supervision? What would be the scope of a possible insurance union, and what would the legal basis be? How rapid should the move to insurance union be? This Policy Brief sets out to answer these questions.

By: Dirk Schoenmaker Topic: Finance & Financial Regulation Date: December 13, 2016
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Policy Contribution

European Parliament

The impact of the legal and operational structures of euro-area banks on their resolvability

Following the financial crisis, the question of how to handle a big bank’s collapse has come to the fore. This Policy Contribution evaluates the obstacles to resolvability that the legal and operational structures of the large euro-area banks could pose to the European Union’s new resolution regime.

By: Dirk Schoenmaker Topic: European Parliament, Finance & Financial Regulation, Testimonies Date: December 6, 2016
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Blueprint

An anatomy of inclusive growth in Europe

This Blueprint offers an in-depth analysis of inequalities of income and wealth in the EU, as well as their causes and consequences. How evenly are the benefits of growth distributed in our economies, and what does this mean for fairness and social mobility? How could and should policymakers react?

By: Zsolt Darvas and Guntram B. Wolff Topic: European Macroeconomics & Governance Date: October 27, 2016
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Podcast

Podcast

The Belt and Road anxiety

Is the Belt and Road initiative a global development plan or is it just a trade project? How concerned should the international community be with what is called the "project of the century"? This week, Guntram Wolff discusses the Belt and Road Initiative with Prof. He Fang, from the Shanghai Jiao Tong University, Dr. Jing Gu, director of the Centre for Rising Powers and Global Development, and Suman Bery, from Bruegel.

By: The Sound of Economics Topic: Global Economics & Governance Date: December 5, 2019
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Opinion

Europe can take a bigger role in providing public goods

The EU should invest where it can deliver more value than member states acting alone.

By: Jean Pisani-Ferry Topic: European Macroeconomics & Governance Date: December 5, 2019
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Blog Post

Who pays for the EU budget rebates and why?

A complex system of EU budget revenue corrections has been developed since the mid-1980s. I quantify their impacts: which countries pay and benefit from it and by how much and highlight several anomalies. The best solution would be to reform EU budget spending to provide only European public goods and eliminate all rebates. But if that’s not possible, then at least the rationale for the rebates should be spelt out clearly, and a transparent system built on clear principles should replace the current ad hoc, complicated, non-transparent and regressive system.

By: Zsolt Darvas Topic: European Macroeconomics & Governance Date: December 4, 2019
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Policy Contribution

European Parliament

The next generation of digital currencies: in search of stability

Recent developments have re-opened the debate on the future of money. This Policy Contribution discusses two aspects: the implications of the rise of global private stablecoins, such as Facebook's Libra, and the role that public central bank digital currencies could play.

By: Grégory Claeys and Maria Demertzis Topic: European Parliament, Finance & Financial Regulation, Testimonies Date: December 2, 2019
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Opinion

The UK election viewed from continental Europe: Meh

It will take more than the vote on December 12 to make the continent pay attention to the UK. Viewed from the continent, the UK election is one more episode in a Brexit series that “jumped the shark” long ago.

By: Nicolas Véron Topic: European Macroeconomics & Governance Date: November 29, 2019
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External Publication

Manufacturing employment, international trade, and China

The decline in manufacturing employment is often seen as a major reason for rising inequality, social tensions, and the slump of entire communities. With the rise of national populists and protectionists in recent years, the issue has become even more prominent.

By: Uri Dadush and Abdelaziz Ait Ali Topic: Global Economics & Governance Date: November 28, 2019
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Podcast

Podcast

The EU-Russia-China energy triangle

Russia wants to export more gas to China, should the EU be concerned? This week, Nicholas Barrett is joined by Georg Zachmann to discuss the EU-Russia-China energy triangle.

By: The Sound of Economics Topic: Energy & Climate Date: November 28, 2019
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Opinion

Why border carbon adjustment is important for Europe’s green deal

The European Commission President-elect Ursula von der Leyen is pursuing ambitious environmental targets, notably to reach zero net emissions across the EU by 2050. This transition requires pricing emissions to incentivise producers to develop greener alternatives, while avoiding putting domestic producers at a disadvantage.

By: Guntram B. Wolff Topic: Energy & Climate Date: November 27, 2019
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Blog Post

A Major Step Toward Combating Money Laundering in Europe

Combating money laundering in Europe took a momentous step with finance ministers of France, Germany, Italy, Latvia, the Netherlands, and Spain putting forward a joint proposal.

By: Nicolas Véron and Joshua Kirschenbaum Topic: Finance & Financial Regulation Date: November 25, 2019
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Opinion

Hong Kong’s Economy is in Danger of Further Contraction

Approaching the end of a volatile year, Hong Kong continues to face the triple whammy of slower growth in mainland China, the trade war uncertainty and social unrest.

By: Alicia García-Herrero Topic: Global Economics & Governance Date: November 21, 2019
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Blog Post

Bank regulation in the European Union neighbourhood: limits of the ‘Brussels effect’

The EU model of financial market regulation is increasingly copied by third countries. In this context, the EU’s efforts to promote its model beyond its borders should take into account the underdevelopment of financial markets in many partner countries, and the often insufficient capacity of regulators and supervisors.

By: Alexander Lehmann Topic: European Macroeconomics & Governance, Finance & Financial Regulation Date: November 20, 2019
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Podcast

Podcast

Ethics and Algorithms

Will the EU's regulations undermine its power of innovation? How can the EU protect its values while harnessing technology? These are some of the questions we discuss with Brent Mittlestadt, from the University of Oxford, and Andre Loesekrug-Pietri, from the Joint European Disruptive Initiative, in our new Sound of Economics podcast.

By: The Sound of Economics Topic: Innovation & Competition Policy Date: November 20, 2019