Ideas on Europe

Informed analysis, comment and debate

Tag Archives: fiscal policy

The Coronavirus crisis as a test to the EU’s fiscal and banking policy reforms

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The reforms in the EU’s economic and financial governance structure in response to the Euro crisis have been put to the test by the Coronavirus pandemic. While the resurfacing of the sovereign debt crisis has highlighted the inadequacies of the Union’s fiscal policy reforms, the relative stability of the banking system so far hints at […]

The differentiating effects of COVID-19 in Europe

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The coronavirus measures implemented by the EU and member states have had differentiating effects, which ultimately may lead to further fragmentation of the European political system, argues EU3D researcher Filippa Chatzistavrou. The COVID-19 pandemic has triggered a global health and economic crisis. According to the World Bank, it has caused the worst economic recession with […]

What can Italy’s economic ailments tell us about the euro area’s current slowdown?

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Even before the Covid-19 pandemic, the euro area slowdown was the result of EMU-induced domestic deflation. EU3D researcher Simona Piattoni offers a different reading of Italy’s disappointing economic performance.  Since 2011, Italy has been considered the single largest threat to the stability of the euro. Italy’s high and growing debt (€2300 bn, some 135% of […]

No extra time for the European Union

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The socio-economic effects of the coronavirus requires a massive and coordinated response from the EU. So far, the EU has not been up to the challenge, argues Marco Dani and Agustín José Menéndez.   The coronavirus pandemic has deepened and radicalised a set of crises that the European Union postponed but did not solve in […]

The future of Europe is being decided now

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Given the ravages of the coronavirus crisis, the future of Europe cannot be one of permanent division between its northern and southern states. We are going through the gravest European crisis since the integration project began. The divisions which emerged during the European Council on March 26th are unprecedented in the history of the European […]

Designing the Euro: An institutional hole?

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“If Member States run sound public finances, as a rule, they will never find themselves in a position where they have to correct an excessive deficit,” underlined Joaquín Almunia, Commissioner for economic and financial affairs, presenting the 2007 ‘Public Finances in EMU’ report in June. “And that is why the preventive arm of the Stability […]