12

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Policy area
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Commitments made at the hearing of Paolo GENTILONI, Commissioner-designate - Economy

22-11-2019

The commissioner-designate, Paolo Gentiloni, appeared before the European Parliament on 03 October 2019 to answer questions from MEPs in the Committees on Economic and Monetary Affairs and on Budgets. During the hearing, he made a number of commitments which are highlighted in this document. These commitments refer to his portfolio, as described in the mission letter sent to him by Ursula von der Leyen, President-elect of the European Commission and include economic and financial affairs, fair and ...

The commissioner-designate, Paolo Gentiloni, appeared before the European Parliament on 03 October 2019 to answer questions from MEPs in the Committees on Economic and Monetary Affairs and on Budgets. During the hearing, he made a number of commitments which are highlighted in this document. These commitments refer to his portfolio, as described in the mission letter sent to him by Ursula von der Leyen, President-elect of the European Commission and include economic and financial affairs, fair and effective taxation and a strong and modern Customs Union.

Policy Department Services (ECON in Focus)

14-06-2019

Policy Department A provides high-quality expertise, up-to-date analysis and independent research to the committees it supports: ECON, EMPL, ENVI, ITRE and IMCO. This brochure focuses on the Policy Department services for the ECON Committee.

Policy Department A provides high-quality expertise, up-to-date analysis and independent research to the committees it supports: ECON, EMPL, ENVI, ITRE and IMCO. This brochure focuses on the Policy Department services for the ECON Committee.

IMF World Economic Outlook reflects consensus views

15-01-2019

This briefing is provided by Policy Department A following the participation of the Members of the European Parliament's Committee on Economic and Monetary Affairs (ECON) in the Annual Meetings of the Boards of Governors of the International Monetary Fund (IMF) and the World Bank (WB) Group in Indonesia on 8-14 October 2018.

This briefing is provided by Policy Department A following the participation of the Members of the European Parliament's Committee on Economic and Monetary Affairs (ECON) in the Annual Meetings of the Boards of Governors of the International Monetary Fund (IMF) and the World Bank (WB) Group in Indonesia on 8-14 October 2018.

Latvia Cracks Down on Unscrupulous Banking

13-12-2018

This briefing, provided by Policy department A, discusses the Latvian banking system and its exposure to money laundering risks. It was prepared following the European Parliament’s Financial Crimes, Tax Evasion and Tax Avoidance Committee (TAX3) delegation visit to Latvia in August 2018.

This briefing, provided by Policy department A, discusses the Latvian banking system and its exposure to money laundering risks. It was prepared following the European Parliament’s Financial Crimes, Tax Evasion and Tax Avoidance Committee (TAX3) delegation visit to Latvia in August 2018.

History of economic and monetary union

01-02-2018

Economic and monetary union (EMU) is the result of progressive economic integration in the EU. It is an expansion of the EU single market, with common product regulations and free movement of goods, capital, labour and services. A common currency, the euro, has been introduced in the eurozone, which currently comprises 19 EU Member States. All 28 EU Member States — with the exception of the UK and Denmark — must adopt the euro after a minimum of two years’ participation in ERM II and fulfilment of ...

Economic and monetary union (EMU) is the result of progressive economic integration in the EU. It is an expansion of the EU single market, with common product regulations and free movement of goods, capital, labour and services. A common currency, the euro, has been introduced in the eurozone, which currently comprises 19 EU Member States. All 28 EU Member States — with the exception of the UK and Denmark — must adopt the euro after a minimum of two years’ participation in ERM II and fulfilment of the convergence criteria. A single monetary policy is set by the European Central Bank (ECB) and is complemented by harmonised fiscal and coordinated economic policies. Within EMU there is no single institution responsible for economic policy. Instead, responsibility is divided between Member States and various EU institutions.

European monetary policy

01-02-2018

The European System of Central Banks (ESCB) comprises the ECB and the national central banks of all the EU Member States. The primary objective of the ESCB is to maintain price stability. In order to achieve its primary objective, the Governing Council of the ECB bases its decisions on a two-pillar monetary policy strategy and implements them using both standard and non-standard monetary policy measures. The main instruments of ECB standard monetary policy are open market operations, standing facilities ...

The European System of Central Banks (ESCB) comprises the ECB and the national central banks of all the EU Member States. The primary objective of the ESCB is to maintain price stability. In order to achieve its primary objective, the Governing Council of the ECB bases its decisions on a two-pillar monetary policy strategy and implements them using both standard and non-standard monetary policy measures. The main instruments of ECB standard monetary policy are open market operations, standing facilities and the holding of minimum reserves. As a response to the financial crisis, the ECB has also changed its communication strategy by providing forward guidance on the future path of the ECB’s interest rate policy conditional on the outlook for price stability and has taken a number of non-standard monetary policy measures. These include the purchases of assets and sovereign bonds on the secondary market, with the aim of safeguarding price stability and the effectiveness of the monetary policy transmission mechanism.

The institutions of Economic and Monetary Union

01-02-2018

The institutions of the European Monetary Union are largely responsible for establishing European monetary policy, rules governing the issuing of the euro and price stability within the EU. These institutions are: ECB, ESCB, Economic and Financial Committee, Euro Group and Economic and Financial Affairs Council (Ecofin).

The institutions of the European Monetary Union are largely responsible for establishing European monetary policy, rules governing the issuing of the euro and price stability within the EU. These institutions are: ECB, ESCB, Economic and Financial Committee, Euro Group and Economic and Financial Affairs Council (Ecofin).

Cost of Non-Schengen: The Impact of Border Controls within Schengen on the Single Market

16-05-2016

The study lists currently applied measures re-introducing temporary border controls within Schengen area and evaluates them in the light of different policy options and smart Single Market regulation criteria. The study highlights the added value of free movement within the Schengen area for the Single Market and quantifies the costs of re-establishing internal border controls, with particular reference to the transportation sector. Welfare of consumers is affected by “non-Schengen”, as the prices ...

The study lists currently applied measures re-introducing temporary border controls within Schengen area and evaluates them in the light of different policy options and smart Single Market regulation criteria. The study highlights the added value of free movement within the Schengen area for the Single Market and quantifies the costs of re-establishing internal border controls, with particular reference to the transportation sector. Welfare of consumers is affected by “non-Schengen”, as the prices of imports increase relative to domestic goods due to higher trade costs. A failure of Schengen would not only reduce the future benefits of the Single Market, but also undermine other aspects of EU integration. The study was prepared for Policy Department A and EAVA at the request of the Internal Market and Consumer Protection Committee.

External author

Tim Breemersch, Filip Vanhove (Transport & Mobility Leuven) ; Matthias Luecke (Kiel Istitute for the World Economy)

Recent Trends in Energy Prices

15-12-2015

After a dramatic fall in 2014, oil and fuel prices in euro terms increased in the first part of 2015, before decreasing again and since mid-2015 to record low levels, similar to early 2015. However, retail gas and electricity prices - which traditionally follow similar trends with some delay stabilized or in some cases even increased, in large part due to higher taxes. Large differences persist amongst EU Member States and commodities. Conversely, most experts claim that fossil fuel prices can be ...

After a dramatic fall in 2014, oil and fuel prices in euro terms increased in the first part of 2015, before decreasing again and since mid-2015 to record low levels, similar to early 2015. However, retail gas and electricity prices - which traditionally follow similar trends with some delay stabilized or in some cases even increased, in large part due to higher taxes. Large differences persist amongst EU Member States and commodities. Conversely, most experts claim that fossil fuel prices can be expected to stay “low for long.” Notwithstanding important recent progress in developing renewable fuel sources, low fossil fuel prices could discourage innovation in and adoption of cleaner energy technologies. This paper was prepared by Policy Department A for the Industry, Research and Energy Committee (ITRE).

Recent Trends in EU Energy Prices

19-12-2014

This paper was prepared by Policy Department A at the request of the Industry, Research and Energy Committee (ITRE). Energy prices became more volatile and fell dramatically due to economic, political and structural changes to the economy. Lasting lower prices will spur global- and EU-wide economic growth. Gas, electricity, and oil product prices move in parallel, albeit with some delay, and with large differences across EU Member States and commodities. Furthermore, the recent fall was in several ...

This paper was prepared by Policy Department A at the request of the Industry, Research and Energy Committee (ITRE). Energy prices became more volatile and fell dramatically due to economic, political and structural changes to the economy. Lasting lower prices will spur global- and EU-wide economic growth. Gas, electricity, and oil product prices move in parallel, albeit with some delay, and with large differences across EU Member States and commodities. Furthermore, the recent fall was in several Member States mitigated by an increase in taxes.

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EU institutional dynamics: Ten years after the Lisbon Treaty
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Take-aways from 2019 and outlook for 2020: What Think Tanks are Thinking
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