Cuardaigh

This report analyses the proposed expansion of innovative financial instruments in the EU Multiannual Financial Framework for the 2014–2020 period. It presents the economic rationale, governance principles and criteria that these instruments should follow and compares these with Commission proposals. Based on this assessment, it makes recommendations for the proposed instruments.

The euro crisis has forced Member States and the EU institutions to create a series of new instruments to safeguard macro-financial stability of the Union. This study describes the status of existing instruments, the role of the European Parliament and how use of the instruments impinges on EU budget also through their effects on national budgets. In addition, we present a survey of other possible instruments that have been proposed in recent years (e.g. E-bonds and eurobonds), in order to provide ...

The Workshop was organised with a view to the report on "Innovative financial instruments in the context of the next Multiannual Financial Framework" (2012/2027 [INI]). Experts from the EC, financial institutions and the European SME umbrella organisation were invited to share their experience with financial instruments during the current Multiannual Financial Framework (MFF). Also, the study "Overview of the different financial instruments used during the current MFF period and of the Commission's ...

The 2006 Interinstitutional Agreement (IIA) called for greater use of financial instruments in the European Union (EU) budget for the period of the multiannual financial framework (MFF) 2007-2013. The EU seeks to extend its budget funds through, for instance, actions financed by loans, risk-bearing or equity investment instruments, by pooling through EU Trust funds from multiple sources, through creating synergies with European Investment Bank (EIB) funds in mixed instruments for risk capital, guarantee ...

The ECB has been an active and vocal institution in the crisis response in the EU. With its non-standard monetary policy operations, it has upheld wide scale emergency support for the banking system. Whatever the final design of the amended EFSF and also ESM may look like, it will have an influence of the role of the ECB. In this compilation of four notes provided by members of the Monetary Expert Panel the roles, relationships and challenges between the ECB, the EFSF and ESM are examined in more ...