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The EU budget is extremely tight. Borrowing costs related to the European Union recovery instrument (EURI), which have risen significantly due to the rise in interest rates, are putting further pressure on the budget. This undermines the EU's capacity to finance its priorities or react to unforeseen events, and puts flagship programmes at risk. A report by Parliament's Committee on Budgets calls for an urgent revision of the EU's long-term budget – to be in place by the start of 2024 – providing ...

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 ...

Offering an overview of the economic and budgetary situation in the European Union and beyond, and summarising the main economic indicators in the EU and euro area and their two-year trends, this study is the seventh in an annual series of 'Outlooks' produced by the European Parliamentary Research Service (EPRS). In seven chapters, the authors of the publication explain and analyse the annual EU budget and give an overview of its headings for 2023, all within the wider budgetary context of the EU's ...

Three ESPAS Global Trends Reports identify major shifts through the 2010s and the challenges they pose for the European Union. The reports tease out both risks and opportunities arising in geopolitics, the economy, technology, the environment and society. They underline the need for anticipatory governance and for the development of a strategic foresight culture within the EU institutions.

Productivity has a key role to play in the EU's long-term economic growth. The recent economic recovery has reversed the negative trend but concerns remain about long-term prospects. Productivity varies across the EU, with newer Member States reaching only about half the level of the older ones (EU-15) when measured in terms of gross domestic product (GDP) per hour worked, but showing a higher growth dynamic. The recent poor productivity growth in the EU raises a number of important policy questions ...

Economic growth in the euro area has been sluggish since the onset of the global financial crisis of 2008. While some of this sluggishness reflected cyclical patterns, ongoing weak productivity growth and demographic factors point to slow average growth rates for the euro area in the coming decades. This will most likely translate into a lower equilibrium real interest rate. The ECB should follow the Federal Reserve in providing estimates to the public of average nominal interest rate it expects ...

The present note has been drafted as a background document for the hearing on 'The EU Budget and the Paris Climate Agreement' of the EP BUDG and ENVI Committees. It aims at providing an introduction to the topic, looking at the EU commitments in the field of climate from a budgetary angle. It contains a brief overview of the policy context, a presentation of budgetary aspects, including a short part on methodology of tracking the climate-related expenditure and on distinction between adaptation and ...

Strategic foresight is increasingly being used as a technique to help organisations anticipate and prepare for potential challenges or opportunities. Its application to agricultural and rural development policies is examined in this briefing. A range of relevant foresight studies are identified and examined across a number of elements, covering: the identification of key drivers of change; the nature of the scenarios they present (including the role of technology and precision farming); and food ...

Interest rates are at historically low levels, both in the European Union and worldwide. For the euro area, a reason for low market interest rate levels is the accommodative monetary policy of the European Central Bank (ECB), which endeavours to increase inflation levels. Most of the time, central banks have to fight inflationary tendencies, but recently inflation was almost non-existent in the euro area, even leading to occasional dips into deflation. For some time, inflation was very far from the ...

World Energy Outlook 2016

Kratki prikaz 19-12-2016

World Energy Outlook 2016 World Energy Outlook (WEO) is an annual study produced by the International Energy Agency (IEA), which models future global trends in energy based on different policy scenarios. The study looks at how production and consumption of different energy sources is evolving, and considers the likely effects of investment decisions, new technologies, government policies and international agreements. The WEO sheds light on the expected energy trajectory of different regions of the ...