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European economic recovery

03-07-2020

A more united Europe has the potential to deliver greater benefits for its citizens, more effectively and efficiently, by offering a level of strategic scale and depth that no individual Member State, or even group of Member States, can achieve on their own. In particular, the combination of Europe's single market and economic and monetary union, used to their full potential and complemented by progress in other policy areas, such as the Green Deal, could prove to be key assets for a strong European ...

A more united Europe has the potential to deliver greater benefits for its citizens, more effectively and efficiently, by offering a level of strategic scale and depth that no individual Member State, or even group of Member States, can achieve on their own. In particular, the combination of Europe's single market and economic and monetary union, used to their full potential and complemented by progress in other policy areas, such as the Green Deal, could prove to be key assets for a strong European recovery from the serious economic shock recently administered by the coronavirus pandemic. An intensive debate has therefore opened up about the potential benefits of moving towards a higher degree of risk-sharing and collective 'strategic autonomy' for the Union, based on stronger and deeper common policies at EU level. The recent European Commission proposal for a 'Next Generation EU' recovery plan is likely to prove an important staging-point in this process. In practice, the size of the recovery response, the policy areas chosen for deepening, the financing options available to support them, and the degree to which they are matched by a greater willingness of the Union to 'act as one' on the international stage, are all likely to be determining factors in the outcome. This paper analyses some of the issues arising specifically in the economic field in the aftermath of the coronavirus crisis and looks at a range of policy initiatives that could help build a broadly based and sustainable European economic recovery and a more resilient European Union.

Economic and monetary union

02-07-2020

Launched almost three decades ago, economic and monetary union (EMU) represents a very important step in the process of European economic integration. However, the recent sovereign debt crisis highlighted its incomplete design and some inherent instabilities. A series of measures were therefore taken to deepen EMU and thereby to increase its resilience. They can be grouped in three main categories: monetary measures, measures intended to complete the single market, and measures aimed at strengthening ...

Launched almost three decades ago, economic and monetary union (EMU) represents a very important step in the process of European economic integration. However, the recent sovereign debt crisis highlighted its incomplete design and some inherent instabilities. A series of measures were therefore taken to deepen EMU and thereby to increase its resilience. They can be grouped in three main categories: monetary measures, measures intended to complete the single market, and measures aimed at strengthening the economic union dimension of EMU. The current coronavirus pandemic has shown the urgency of many of them; recently submitted important proposals could lead to a noteworthy evolution in the architecture of EMU. This Briefing groups and highlights some of these proposals. The table at the end features a number of additional proposals in summary form.

The economy and coronavirus: Weekly Picks 01/07/2020

01-07-2020

This paper provides a summary of recent analyses of the economic and financial effects of the coronavirus, an overview of the proposed new temporary European Union Recovery Instrument, and some policy recommendations made in the public domain to mitigate the negative economic effects of the pandemic.

This paper provides a summary of recent analyses of the economic and financial effects of the coronavirus, an overview of the proposed new temporary European Union Recovery Instrument, and some policy recommendations made in the public domain to mitigate the negative economic effects of the pandemic.

EU/EA measures to mitigate the economic, financial and social effects of coronavirus - State-of-play 1 July 2020

01-07-2020

This document compiles information, obtained from public sources, on the measures proposed and taken at the EU or Euro Area level to mitigate the economic and social effects of Covid19. It will be regularly updated, following new developments.

This document compiles information, obtained from public sources, on the measures proposed and taken at the EU or Euro Area level to mitigate the economic and social effects of Covid19. It will be regularly updated, following new developments.

Performing arts: Emerging from confinement

29-06-2020

In the EU as elsewhere in the world, the performing arts were among the first sectors to be hit by measures to slow the spread of the coronavirus, and are now among the last to reopen. As the confinement measures are relaxed, the focus now is on supporting the performing arts and finding a way to re-engage with live audiences.

In the EU as elsewhere in the world, the performing arts were among the first sectors to be hit by measures to slow the spread of the coronavirus, and are now among the last to reopen. As the confinement measures are relaxed, the focus now is on supporting the performing arts and finding a way to re-engage with live audiences.

Coronavirus: An uncertain outlook [What Think Tanks are thinking]

26-06-2020

While many countries, notably in Europe, are currently easing restrictive measures aimed at containing the spread of the coronavirus (Covid-19), the latter is now rapidly spreading in other parts of the world, notably in the Americas and Indian sub-continent. The number of people globally who have tested positive for the disease is now approaching 10 million, exacerbating an already precarious situation in certain conflict-afflicted areas, such as Yemen. In Europe, analysts continue to examine the ...

While many countries, notably in Europe, are currently easing restrictive measures aimed at containing the spread of the coronavirus (Covid-19), the latter is now rapidly spreading in other parts of the world, notably in the Americas and Indian sub-continent. The number of people globally who have tested positive for the disease is now approaching 10 million, exacerbating an already precarious situation in certain conflict-afflicted areas, such as Yemen. In Europe, analysts continue to examine the various ways of financing and promoting economic recovery from the depressive effects of the pandemic. This note offers links to recent commentaries and reports from international think tanks on coronavirus and related issues. Earlier publications on the topic can be found in the previous item in this series, published by EPRS on 12 June.

A more resilient, sustainable and fair Europe after coronavirus?

25-06-2020

The triple-crisis – the pandemic's public health and economic consequences intertwined with the underlying environmental crisis – may lead to increasing divergence, instead of convergence and cohesion among Member States, regions, generations and different groups of society across the EU and globally. However, if handled with a longer-term perspective with the aim of achieving a more resilient, sustainable and fair EU – the crisis also offers the opportunity to turn the three into the guiding principles ...

The triple-crisis – the pandemic's public health and economic consequences intertwined with the underlying environmental crisis – may lead to increasing divergence, instead of convergence and cohesion among Member States, regions, generations and different groups of society across the EU and globally. However, if handled with a longer-term perspective with the aim of achieving a more resilient, sustainable and fair EU – the crisis also offers the opportunity to turn the three into the guiding principles of the recovery. This applies as much for the content of the policies as for the process of their design and implementation, both in the short and longer terms.

A Comprehensive EU Strategy for Africa

25-06-2020

The new EU-Africa Strategy presented by the Commission on 9 March puts a reinforced emphasis on the creation of a real partnership with a continent whose relevance for Europe is growing by the day. The three briefings focus on different aspects of this new partnership, the first one dealing with the implications for the political dialogue with a focus on (good) governance and the even bigger challenge of security and migration. The second briefing has a look at more ‘traditional’ aspects of this ...

The new EU-Africa Strategy presented by the Commission on 9 March puts a reinforced emphasis on the creation of a real partnership with a continent whose relevance for Europe is growing by the day. The three briefings focus on different aspects of this new partnership, the first one dealing with the implications for the political dialogue with a focus on (good) governance and the even bigger challenge of security and migration. The second briefing has a look at more ‘traditional’ aspects of this relationship, development and humanitarian aid, complemented with the rising challenge of climate change. The new approach is also illustrated by the emphasis put on the promotion of bilateral trade and investment relations, the topic of the third briefing. All these briefings also try to incorporate first elements on the impact of the Covid-19 pandemic on the bilateral relationship.

Parlamendiväline autor

Morten BØÅS, Ondřej HORKÝ-HLUCHÁŇ,Ainhoa MARIN-EGOSCOZABAL

A Comprehensive EU Strategy for Africa - Political Dialogue: Governance, Security and Migration

25-06-2020

Much has changed since the creation of the Joint Africa-European Union (EU) Strategy in 2007. The developing world has been changing fast. Development policy and practices are also transforming, albeit at a slower pace. The divide between emerging economies and ‘fragile states’ is increasing. This is also the case in Africa. As not only Africa, but also the EU-Africa relationship is changing and evolving into new dimensions, there is clearly a need to develop a new European strategy, constructed ...

Much has changed since the creation of the Joint Africa-European Union (EU) Strategy in 2007. The developing world has been changing fast. Development policy and practices are also transforming, albeit at a slower pace. The divide between emerging economies and ‘fragile states’ is increasing. This is also the case in Africa. As not only Africa, but also the EU-Africa relationship is changing and evolving into new dimensions, there is clearly a need to develop a new European strategy, constructed on the basis of an emerging continent. Africa is home to the youngest population in the world and some of the world’s most fragile states. However, it is also a continent with emerging markets and more effective governments. This brief aims to clarify how well the new Strategy must manage to mainstream a European approach to Africa that considers both the inter-continental dialogue and the diversity of development on this emerging continent within the fields of governance, security and migration. As the COVID-19 has turned into a pandemic, the brief also suggests that the new European strategy must reflect this development and the European Parliament should closely monitor the situation as it discusses the Strategy.

Parlamendiväline autor

Morten BØÅS

A Comprehensive EU Strategy for Africa - Development, Humanitarian Aid and Climate Change

25-06-2020

The new EU Strategy for Africa attempts to reflect the continent’s growing relevance within a partnership rather than through a donor-recipient framework. However, this leads to a prioritisation of the formal, productive and technology sectors as well as climate mitigation at the expense of agriculture, informal sector, human development and climate adaptation. With such skewed priorities, this Strategy is ill-adapted for the COVID-19 pandemic and its aftermath. Institutionally, political will is ...

The new EU Strategy for Africa attempts to reflect the continent’s growing relevance within a partnership rather than through a donor-recipient framework. However, this leads to a prioritisation of the formal, productive and technology sectors as well as climate mitigation at the expense of agriculture, informal sector, human development and climate adaptation. With such skewed priorities, this Strategy is ill-adapted for the COVID-19 pandemic and its aftermath. Institutionally, political will is needed to ensure that the continent-to-continent approach is not hampered by parallel, contradictory and fragmenting forces within the African, Caribbean and Pacific Group of States (ACP) and the European Neighbourhood Policy (ENP) governance frameworks. Financially, mutual accountability must be strengthened by joint funding of joint actions. An inclusive institutional mechanism is also needed to promote political and civil society participation as well as policy coherence for sustainable development beyond migration and climate. More generally, the Strategy advances a government-to-government type of partnership at the expense of a more people-centred approach that is more in line with the ‘principled pragmatism’ of the EU.

Parlamendiväline autor

Ondřej HORKÝ-HLUCHÁŇ