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Recommendations on the economic policy of the euro area under the European Semester - January 2020

24-01-2020

This note looks at the recommendations on the economic policies of the euro area adopted by the Council in 2019, upon proposal of the Commission. Its scope is to assess their follow up, making use of proxies such as on how Eurogroup has integrated euro area recommendations concerns in their “thematic discussions” and its work programmes, as well as Commission’s assessment. It also looks at the Commission proposal for the 2020 euro area recommendation. In addition, the note provides an institutional ...

This note looks at the recommendations on the economic policies of the euro area adopted by the Council in 2019, upon proposal of the Commission. Its scope is to assess their follow up, making use of proxies such as on how Eurogroup has integrated euro area recommendations concerns in their “thematic discussions” and its work programmes, as well as Commission’s assessment. It also looks at the Commission proposal for the 2020 euro area recommendation. In addition, the note provides an institutional perspective of the euro area recommendations, in particular the process setting the 2019 euro area recommendations and the timeline for adoption of the 2020 euro area recommendation and includes broad comparisons to earlier recommendations, to illustrate how policy concerns have evolved over time. This note is regularly updated.

Structural Budget Balances in EU Member States - November 2019

14-11-2019

Structural budget balances play an important role in the fiscal policy frameworks of the EU both as part of the application of the Stability and Growth Pact (SGP) and in the implementation of the balanced budget rule by the contracting parties of the intergovernmental Treaty on Stability, Coordination and Governance in the EMU (the fiscal section of the Treaty is called “Fiscal Compact”). This document provides a short overview of the concept and application of the structural balance rule(s) in ...

Structural budget balances play an important role in the fiscal policy frameworks of the EU both as part of the application of the Stability and Growth Pact (SGP) and in the implementation of the balanced budget rule by the contracting parties of the intergovernmental Treaty on Stability, Coordination and Governance in the EMU (the fiscal section of the Treaty is called “Fiscal Compact”). This document provides a short overview of the concept and application of the structural balance rule(s) in the EU. It will be regularly updated, in particular, the Annex that shows progress made (based on the latest Commission forecast) by Member States in reaching their structural budget commitments under the preventive arm of the SGP.

Public finances in Euro Area Member States: selected indicators - November 2019

08-11-2019

This document presents selected indicators on public finance for the Euro Area Member States and the Euro Area as a whole. For each indicator, it gives a short explanation and the employed sources. A final section provides a summary on how the sustainability of public finances is assessed by the European and other international institutions.

This document presents selected indicators on public finance for the Euro Area Member States and the Euro Area as a whole. For each indicator, it gives a short explanation and the employed sources. A final section provides a summary on how the sustainability of public finances is assessed by the European and other international institutions.

The role (and accountability) of the President of the Eurogroup

03-10-2019

This note provides an overview of the role of the President of the Eurogroup, the procedures for his/her appointment, as well as proposals on a “full time position” as part of the wider debate on deepening the Economic and Monetary Union. The note also briefly addresses the mandate and working methods of the Eurogroup. In addition, this note refers to the debate around the transparency of Eurogroup proceedings. It is updated regularly.

This note provides an overview of the role of the President of the Eurogroup, the procedures for his/her appointment, as well as proposals on a “full time position” as part of the wider debate on deepening the Economic and Monetary Union. The note also briefly addresses the mandate and working methods of the Eurogroup. In addition, this note refers to the debate around the transparency of Eurogroup proceedings. It is updated regularly.

Cohesion funds, values and economic and monetary union in the 2021-2027 MFF: European Parliament position on Heading 2 – Cohesion and values

21-01-2019

Heading 2 – Cohesion and values – is the biggest in terms of budget in the multiannual financial framework (MFF) proposed by the European Commission for the 2021 to 2027 period. It is also the most diversified heading in terms of the types of programme and fund included. It encompasses expenditure on cohesion, one of the EU's long-standing policies, on an entirely new budgetary instrument supporting economic and monetary union, and on other increasingly important goals, including youth employment ...

Heading 2 – Cohesion and values – is the biggest in terms of budget in the multiannual financial framework (MFF) proposed by the European Commission for the 2021 to 2027 period. It is also the most diversified heading in terms of the types of programme and fund included. It encompasses expenditure on cohesion, one of the EU's long-standing policies, on an entirely new budgetary instrument supporting economic and monetary union, and on other increasingly important goals, including youth employment, the creative sector, values, equality and the rule of law. Under this heading the Commission is proposing to almost halve the Cohesion Fund and double the Erasmus+ programme. Moreover, some of the programmes included fall under shared management between the Commission and EU Member States, while some are managed directly by the Commission. This briefing presents Heading 2 in detail, on the basis of previous EPRS publications on the 2021-2027 MFF proposal. It aims to provide some clarity on its structure and allocation in comparison with the current MFF, based on the Commission's proposal for the 2021-2027 MFF and the European Parliament's negotiating position adopted on 14 November 2018. The analysis is structured around three issues: the introduction to the EU budget of a new budgetary instrument for economic and monetary union, a change in the allocation for cohesion policy, and the merging of programmes supporting people, social cohesion and values.

2018: Challenges and choices [What Think Tanks are thinking]

20-12-2018

After 2017 brought optimism for the European Union, 2018 has proved a year of tougher challenges and choices. It was a time of slower growth, with the spectre of a global trade war. Turbulent negotiations on Brexit brought an agreement, but the chances of its approval by the UK House of Commons look unpromising. It was a year of uncertainty for transatlantic ties and for US global leadership. Tensions re-emerged over migration. Progress in overhauling the euro-area was limited. The simmering Russia-Ukrainian ...

After 2017 brought optimism for the European Union, 2018 has proved a year of tougher challenges and choices. It was a time of slower growth, with the spectre of a global trade war. Turbulent negotiations on Brexit brought an agreement, but the chances of its approval by the UK House of Commons look unpromising. It was a year of uncertainty for transatlantic ties and for US global leadership. Tensions re-emerged over migration. Progress in overhauling the euro-area was limited. The simmering Russia-Ukrainian conflict erupted again. These and other developments form the backdrop for the European elections in 2019. This note offers links to recent selected commentaries, studies and reports from major international think tanks on the state of the EU in 2018 and its outlook in several important areas.

Economic Dialogue with the President of the Eurogroup

19-11-2018

Mário Centeno, President of the Eurogroup since 13 January 2018, has been invited to a regular Economic Dialogue, notably in accordance with Article 2ab of Regulation 1466/97 as amended. This briefing provides an overview of the ongoing work of the Eurogroup as regards Council recommendations to the Euro Area as a whole, public finances, macro-economic imbalances, financial adjustment programmes and the banking union. As the President of the Eurogroup, Mr Centeno has also been appointed as Chairman ...

Mário Centeno, President of the Eurogroup since 13 January 2018, has been invited to a regular Economic Dialogue, notably in accordance with Article 2ab of Regulation 1466/97 as amended. This briefing provides an overview of the ongoing work of the Eurogroup as regards Council recommendations to the Euro Area as a whole, public finances, macro-economic imbalances, financial adjustment programmes and the banking union. As the President of the Eurogroup, Mr Centeno has also been appointed as Chairman of the Board of Governors of the European Stability Mechanism. On 19 November, the Eurogroup met to discuss ways to strengthen the governance framework of the EMU. For a separate overview of the role of the President of the Eurogroup, please see separate EGOV briefing.

Challenges for the euro area [What Think Tanks are thinking]

09-11-2018

The discussion on how to deepen and improve the functioning of Economic and Monetary Union (EMU) continues on several fronts. Issues under discussion include euro-area governance, the role of the European Central Bank (ECB), the fiscal rules, debt-mutualisation, risk-sharing, and the nature of, and political compromises between, French and German perspectives within the system. The dispute between Italy and the European Commission over the former’s budget for 2019 is now a major topic for discussion ...

The discussion on how to deepen and improve the functioning of Economic and Monetary Union (EMU) continues on several fronts. Issues under discussion include euro-area governance, the role of the European Central Bank (ECB), the fiscal rules, debt-mutualisation, risk-sharing, and the nature of, and political compromises between, French and German perspectives within the system. The dispute between Italy and the European Commission over the former’s budget for 2019 is now a major topic for discussion at Eurogroup meetings, as are Banking Union and the sustainability of economic growth, notably in light of the expected tapering of the ECB’s bond-purchase programme. In a separate development, European Commission President Jean-Claude Juncker has proposed increasing the international role of the euro, which some analysts say could replace the US dollar in certain international transactions, given the volatility of US economic policies. This note brings together commentaries, analyses and studies by major international think tanks and research institutes on challenges facing the euro area and related issues. Earlier publications on the topic can be found in a previous edition of 'What Think Tanks are Thinking' published in June 2018.

Outlook for the meetings of EU Heads of State or Government, 17-18 October 2018

16-10-2018

As has become the norm with European Council meetings, EU Heads of State or Government will convene on 17 and 18 October 2018 in different formats with varying compositions and levels of formality: a regular meeting of the European Council, and an enlarged Euro Summit of 27 Member States on 18 October, preceded by a European Council (Article 50) meeting on the 17 October over dinner. The agenda of the European Council meeting focuses on migration and internal security. Specific foreign policy issues ...

As has become the norm with European Council meetings, EU Heads of State or Government will convene on 17 and 18 October 2018 in different formats with varying compositions and levels of formality: a regular meeting of the European Council, and an enlarged Euro Summit of 27 Member States on 18 October, preceded by a European Council (Article 50) meeting on the 17 October over dinner. The agenda of the European Council meeting focuses on migration and internal security. Specific foreign policy issues might also be addressed at this meeting. The Euro Summit will discuss the state of play of negotiations on the deepening of Economic and Monetary Union (EMU), with a view to the next Euro Summit in December. However, the priority issue for Heads of State or Government will be Brexit. At the European Council (Article 50) meeting, EU-27 leaders are expected to discuss the progress that has been achieved in the negotiations so far, and possibly call for an extraordinary summit in November 2018.

The Juncker Commission's ten priorities: State of play in autumn 2018

07-09-2018

As the European Commission approaches the last full year of its five-year mandate, this publication provides an up-to-date overview of the state of play in the delivery of the various legislative and other political initiatives flowing from the ten priorities defined by the Commission's President, Jean-Claude Juncker, on taking office in 2014. The paper is intended both to assess the progress towards the targets that the Commission has set itself, and to identify areas in which difficulties have ...

As the European Commission approaches the last full year of its five-year mandate, this publication provides an up-to-date overview of the state of play in the delivery of the various legislative and other political initiatives flowing from the ten priorities defined by the Commission's President, Jean-Claude Juncker, on taking office in 2014. The paper is intended both to assess the progress towards the targets that the Commission has set itself, and to identify areas in which difficulties have been, or are being, encountered, as the EU institutions prepare for the 2019 European Parliament elections. The analysis – part of an on-going series throughout the Commission's five-year term – finds that, so far, 89 per cent of the proposals envisaged by the Commission have been tabled, and 40 per cent have been adopted. Of the 49 per cent proposed but not yet adopted, around two-thirds are progressing well through the EU legislative process.

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Where all students can succeed: Analysing the latest OECD PISA results
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30-01-2020
‘Sidetracked’ - A dystopian Brexit novel: David Harley in conversation
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