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Begin New Search Topic Economics Political Geography Europe Content Type Policy Brief Publishing Institution EGMONT - The Royal Institute for International Relations Publication Year within 25 Years

1. A Eurozone Subcommittee in the European Parliament: high hopes, low results?

Author:
Stijn Verhelst
Publication Date:
07-2014
Content Type:
Policy Brief
Institution:
EGMONT - The Royal Institute for International Relations
Abstract:
The task of ensuring the democratic legitimacy of the euro has been placed high on the agenda. A eurozone subcommittee in the European Parliament is one of the rare concrete proposals to secure this, creating high hopes. Due to legal and political hurdles the idea might nonetheless have minimal results, which might result in suboptimal parliamentary scrutiny of the eurozone. This Policy Brief argues that if a eurozone subcommittee is to be both meaningful and politically feasible, it should combine substantial competences with innovative decision-making.
Topic:
Economics, Regional Cooperation, and Monetary Policy
Political Geography:
Europe

2. Is the EMU ready for future shocks? An overview of available backstops

Author:
Xavier Vanden Bosch
Publication Date:
03-2014
Content Type:
Policy Brief
Institution:
EGMONT - The Royal Institute for International Relations
Abstract:
In recent years much has been accomplished to make the EMU more resilient to banking crises, sovereign-debt crises or balance-of-payment crises. Several 'backstops' or financial safety nets were progressively put in place to absorb the shocks that could have otherwise broken the EMU as a system. These substantial advances reflected a gradual, trial-and-error approach rather than a grand design that would have completely overhauled the EMU architecture. While flexibility and realism have advantages, complacency is a clear risk. With no roadmap to follow, efforts to complete the architecture of the EMU may fade with time. Maintaining a sense of direction is crucial while potential vulnerabilities remain.
Topic:
Economics, International Trade and Finance, and Financial Crisis
Political Geography:
Europe

3. What future for the eurozone? Combining discipline, solidarity and institutional reforms

Author:
Stijn Verhelst and Xavier Vanden Bosch
Publication Date:
03-2014
Content Type:
Policy Brief
Institution:
EGMONT - The Royal Institute for International Relations
Abstract:
This Policy Brief discusses the challenges that await policymakers in reforming the EMU. A balance between discipline and solidarity will have to be found, while institutional reforms should improve the eurozone's legitimacy and efficiency. The key decisions on EMU reforms will have to be made during the 2014-2019 parliamentary term, as the window of opportunity for major reforms is likely to be closed afterwards.
Topic:
Economics, Monetary Policy, Financial Crisis, and Reform
Political Geography:
Europe

4. Re-designing the European Climate and Energy policies post-2020

Author:
Clémentine d'Oultremont
Publication Date:
03-2014
Content Type:
Policy Brief
Institution:
EGMONT - The Royal Institute for International Relations
Abstract:
Ensuring the sustainability, security and cost-competitiveness of energy supplies for the EU citizens are the main objectives of the EU climate and energy policy, which remains high on the EU agenda. The next European legislature will have the difficult task to reconcile these different objectives into a comprehensive 2030 framework for climate and energy policies.
Topic:
Climate Change, Economics, and Energy Policy
Political Geography:
Europe

5. The German Constitutional Court's decision about the European Central Bank's OMT mechanism: A masterpiece of judicial arrogance

Author:
Charles Secondat, Daisy Roterod, and P.J. Goossens
Publication Date:
04-2014
Content Type:
Policy Brief
Institution:
EGMONT - The Royal Institute for International Relations
Abstract:
The German Constitutional Court (BVG) recently referred different questions to the European Court of Justice for a preliminary ruling. They concern the legality of the European Central Bank's Outright Monetary Transaction mechanism created in 2012. Simultaneously, the German Court has threatened to disrupt the implementation of OTM in Germany if its very restrictive analysis is not validated by the European Court of Justice.
Topic:
Economics, Regional Cooperation, and Monetary Policy
Political Geography:
Europe

6. What if the Next Financial Crisis Hits the Banking Union? A Call for an "If All Else Fails" Clause

Author:
Stijn Verhelst
Publication Date:
09-2013
Content Type:
Policy Brief
Institution:
EGMONT - The Royal Institute for International Relations
Abstract:
This Policy Brief argues that the envisaged design of the Banking Union risks not being sufficient to deal with the next large-scale financial crisis. Therefore, an "if all else fails" clause should be approved, stating that the Banking Union members can provide joint last resort financing to deal with a future crisis. An agreement on the clause should be feasible because it is beneficial to all Member States.
Topic:
Economics, International Trade and Finance, Markets, Monetary Policy, and Financial Crisis
Political Geography:
Europe

7. Don't complicate it even further: Macroeconomic Conditionality as a Substitute for new Structural Reform Contracts

Author:
Stijn Verhelst
Publication Date:
05-2013
Content Type:
Policy Brief
Institution:
EGMONT - The Royal Institute for International Relations
Abstract:
The idea of introducing contracts between Member States and the EU on structural reforms has its merits, it also has several disadvantages. Most notably, the contracts risk rendering European economic governance even more complex and cumbersome. It is therefore sensible to first try to integrate the structural reform contracts into one of the foreseen economic governance instruments.
Topic:
Economics, International Trade and Finance, Regional Cooperation, Governance, and Reform
Political Geography:
Europe