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Covid-19 Newsletter 2: Exit strategy

03-07-2020

As EU Member States embark on a cautious de-confinement path, the economy slides into recession and the question of the proportionality of public health-related measures and their economic consequences is increasingly present in the public debate. As long as a vaccine (or an effective treatment) for the Covid-19 disease is not found and deployed, post-Covid-19 societies will have to coexist with the virus, and find an equilibrium between the social constraints resulting from health protecting measures ...

As EU Member States embark on a cautious de-confinement path, the economy slides into recession and the question of the proportionality of public health-related measures and their economic consequences is increasingly present in the public debate. As long as a vaccine (or an effective treatment) for the Covid-19 disease is not found and deployed, post-Covid-19 societies will have to coexist with the virus, and find an equilibrium between the social constraints resulting from health protecting measures and the need to mitigate as much as possible a huge economic shock, which if not addressed adequately, could have unpredictable social and political consequences. The Covid-19 crisis has shown above all the importance of joint European action. Although public health is primarily the competence of the Member States, the European Parliament has called on the Commission and the Member States to act together and to rise to the challenge and ensure that the Union emerges stronger from this crisis. In particular, a differentiated but coordinated post-lockdown approach in the EU should be ensured, in order to avoid a resurgence of the virus. The present Covid-19 Newsletter focuses on the de-confinement strategies and EU measures to support the economic recovery. An update of ongoing Covid-19 related expertise work for the ECON, EMPL, ENVI, ITRE and IMCO committees is provided at the end of this document.

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.

Poliitikaosakondade teenused (Majandus- ja rahanduskomisjon)

14-06-2019

Poliitikaosakond A varustab kvaliteetse teabe, ajakohaste analüüside ja sõltumatute uuringutega järgmisi parlamendikomisjone: ECON, EMPL, ENVI, ITRE ja IMCO. Käesolev brošüür keskendub teenustele, mida poliitikaosakond osutab ECON-komisjonile.

Poliitikaosakond A varustab kvaliteetse teabe, ajakohaste analüüside ja sõltumatute uuringutega järgmisi parlamendikomisjone: ECON, EMPL, ENVI, ITRE ja IMCO. Käesolev brošüür keskendub teenustele, mida poliitikaosakond osutab ECON-komisjonile.

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.

Euroopa rahapoliitika

01-02-2018

Euroopa Keskpankade Süsteem (EKPS) koosneb Euroopa Keskpangast (EKP) ja kõigi ELi liikmesriikide keskpankadest. EKPSi esmane eesmärk on säilitada hindade stabiilsus. Esmase eesmärgi saavutamiseks tugineb EKP nõukogu oma otsustes kahesambalisele rahapoliitika strateegiale ja viib neid otsuseid ellu nii tavapäraste kui ka mittestandardsete rahapoliitika meetmete kaudu. EKP tavapärase rahapoliitika kõige olulisemad vahendid on avaturuoperatsioonid, püsivahendid ja kohustuslike reservide hoidmine. Finantskriisi ...

Euroopa Keskpankade Süsteem (EKPS) koosneb Euroopa Keskpangast (EKP) ja kõigi ELi liikmesriikide keskpankadest. EKPSi esmane eesmärk on säilitada hindade stabiilsus. Esmase eesmärgi saavutamiseks tugineb EKP nõukogu oma otsustes kahesambalisele rahapoliitika strateegiale ja viib neid otsuseid ellu nii tavapäraste kui ka mittestandardsete rahapoliitika meetmete kaudu. EKP tavapärase rahapoliitika kõige olulisemad vahendid on avaturuoperatsioonid, püsivahendid ja kohustuslike reservide hoidmine. Finantskriisi tõttu muutis EKP ka oma kommunikatsioonistrateegiat, hakates avaldama eelkommunikatsioone hinnastabiilsuse väljavaatest sõltuva EKP intressimäärapoliitika tulevase kursi kohta, ning on võtnud mitmeid mittestandardseid rahapoliitikameetmeid. Need hõlmavad varade ja riigivõlakirjade ostmist järelturult, et tagada hinnastabiilsus ja rahapoliitika ülekandemehhanismi toimimine.

Majandus- ja rahaliidu institutsioonid

01-02-2018

Euroopa rahaliidu institutsioonid kannavad peamist vastutust Euroopa rahapoliitika kujundamise, euro emiteerimist reguleerivate eeskirjade ja hinnastabiilsuse eest ELis. Need institutsioonid on EKP, EKPS, majandus- ja rahanduskomitee, eurorühm ning majandus- ja rahandusküsimuste nõukogu (ECOFIN).

Euroopa rahaliidu institutsioonid kannavad peamist vastutust Euroopa rahapoliitika kujundamise, euro emiteerimist reguleerivate eeskirjade ja hinnastabiilsuse eest ELis. Need institutsioonid on EKP, EKPS, majandus- ja rahanduskomitee, eurorühm ning majandus- ja rahandusküsimuste nõukogu (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.

Parlamendiväline autor

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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