EU policies

Timothy J Hatton, 05 June 2015

As a result of the Arab Spring and conflicts in the Middle East, thousands of people have been boarding boats from North Africa and making for Europe. This columns discusses the progress the EU has made in dealing with the situation. Many important decisions and critical actions still need to be made.  

Niklas Gadatsch, Tobias Körner, Isabel Schnabel, Benjamin Weigert, 03 June 2015

There is a broad consensus that financial supervision ought to include a macroprudential perspective that focuses on the stability of the entire financial system. This column presents and critically evaluates the newly-created macroprudential framework in the Eurozone, with a particular focus on Germany. It argues that, while based on the right principles, the EU framework grants supervisors a high degree of discretion that entails the risk of limited commitment and excessive fine-tuning. Further, monetary policy should not ignore financial stability considerations and expect macroprudential policy to do the job alone.

Harald Benink, Harry Huizinga, 16 May 2015

QE in the Eurozone is unusual in that the risks of sovereign debt defaults are shared between the ECB and the national central banks. This column argues that if such risk sharing were applied to the Outright Monetary Transactions programme, it could potentially create insolvency problems for countries with large public debts, especially in a low-growth scenario.

Bruno Maçães, 08 May 2015

Europe’s institutional architecture is evolving in response to the EZ Crisis and years of economic malaise. This column, by Portugal’s Secretary of State for Europe, argues a flexible institutional framework that allows for stronger economic policy coordination, convergence and solidarity.

Charles Wyplosz, 27 April 2015

It seems that there will be no agreement between Greece and its Eurozone partners. Short of cash, the Greek government will have no choice but to suspend payment of its maturing debts. This column looks at what happens next. In brief, it will be very much up to the ECB to decide.

Other Recent Articles:

Events