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On 20 June 2023, the Commission made a proposal for a revision of the EU's long-term budget, to urgently address shortcomings and provide further financial support to Ukraine. Overall, the Committee on Budgets (BUDG) supports the revision in its interim report, pending the formal request from the Council, which has yet to agree its position, for consent to the revision. But BUDG says that an additional €10 billion, on top of the €65.8 billion proposed by the Commission, is needed to address the challenges ...

This paper examines the evolving notion of crisis response, how it is currently addressed by the EU budget under heading 6 of the 2021-2027 Multiannual Financial Framework (amounts and instruments/programmes) and how it may continue to be addressed in the future.

Out of the fog?

Análise aprofundada 16-03-2023

The ECB has orchestrated a U-turn in monetary policy since July 2022. However, inflation remains a considerable distance away from its own medium-term objective. The ECB relies too heavily on data dependence and uncertainty in communicating monetary policy to markets and the public. It also fails to acknowledge the inherent tensions that exist between monetary and financial stability policies. The current hawkish stance is appropriate but leaves the ECB open to more credibility losses should tail ...

The paper explores the possible direct and indirect impacts of the Russian war in Ukraine on different measures of inflation in the euro area. It notably shows that the core inflation index is sensitive to energy and food prices, and questions its reliability for policy decisions. Finally, we discuss medium-term inflation prospects and the effectiveness of monetary policy measures. This paper was provided by the Economic Governance and EMU Scrutiny Unit at the request of the Committee on Economic ...

Brexit poses unique challenges for policymakers in the EU as the most important financial centre in Europe is now outside its regulatory framework. We expect significant divergence over the medium- to long-term, given recent legislative and regulatory initiatives in the UK, but also developments of the regulatory framework in the EU. However, there seem to be limited concerns of an easing of the tax evasion and Anti-Money Laundering framework in the UK. We expect a limited use of the EU equivalence ...

Τhis study examines the inter-institutional dynamics of the post-2020 CAP reform (European Parliament - Council - Commission), provides an analysis of the dynamics and the outcome of the reform process seen from a governance angle and makes recommendations on the role of Parliament in future CAP reforms and mid-term reviews.

In July 2021, the European Central Bank (ECB)’s Governing Council concluded the review of its monetary policy strategy. One of the main outcomes of the review was the revised price stability target. The ECB is now committed to “an inflation rate of 2% over the medium term”. The new target is symmetric, which means that negative and positive deviations from the target are considered as equally undesirable. Four papers were prepared by the ECON Committee’s Monetary Expert Panel, explaining the main ...

Inflation in the euro area, as measured by the harmonised index of consumer prices (HICP), has risen to 3% in August 2021. According to the latest projections, the European Central Bank (ECB) expects inflation to increase further in the fourth quarter, and then decline to 1.7% (2022) and 1.5% (2023), well below its medium-term target of 2%. Will the current increase of inflation truly be short-lived because it is driven by temporary factors? Or has, after years of persistently low inflation, the ...

Climate Diplomacy

Estudo 15-03-2018

This report summarises the presentations and the discussion that took place at the workshop on Climate Diplomacy held on 20 February 2018 at the European Parliament (EP) in Brussels. It was organised by the Policy Department of the Directorate General for External Policies (DG EXPO) and Policy Department A in the Directorate General for Internal Policies (DG IPOL) at the request of the EP’s Committees on Foreign Affairs (AFET) and on Environment, Public Health and Food Safety (ENVI). The workshop ...

This briefing was prepared to provide information for the visit to Bulgaria of a delegation of the European Parliament’s Committee on Regional Development (REGI) from 29 to 31 October 2017, the region visited being Sofia city and the surrounding Sofia district.