Parliamentary Testimony
Comments on the Five Presidents’ Report
Presentation on the Five Presidents’ Report delivered at the Dutch Senate's Standing Committee for European Affairs, Finance and Economic Affairs on 8 December 2015.
Parliamentary Testimony
Presentation on the Five Presidents’ Report delivered at the Dutch Senate's Standing Committee for European Affairs, Finance and Economic Affairs on 8 December 2015.
Policy Contribution
In this Policy Contribution, we compare these two proposals in terms of their treatment under the current EU fiscal rules, and analyse the legal options for their introduction in the EU fiscal framework. We start with a brief review of the rationale for a green golden rule and then discuss legal options.
Blog Post
Crucial decisions about whether a country can join the euro area depend on questionable discretionary decisions.
External Publication
The ECB should design a specific tool that will accompany interest rate hikes to neutralise the risk of fragmentation directly for countries facing it, staying within the bounds of the EU treaties and ensuring political legitimacy. We also advocate structural changes to the ECB’s collateral framework to avoid unnecessary uncertainty surrounding the safe asset status of European sovereign bonds.
Opinion
Even though inflation in the euro area is lower than in the US, three issues make it a lot more difficult for the ECB to control inflation and preserve financial stability. Once again, the limits of EMU architecture are visible and will require a rethink.
Podcast
What are the implications of prolonged inflation?
Past Event
ECB Executive Board Member Philip Lane discusses the outlook for Euro area economies.
Policy Contribution
Policymakers must think coherently about the joint implications of their actions, from sanctions on Russia to subsidies and transfers to their own citizens, and avoid taking measures that contradict each other. This is what we try to do in this Policy Contribution, focusing on the macroeconomic aspects of relevance for Europe.
Policy Contribution
What is the current state of pensions policy in Europe and how are independent workers treated compared with their traditionally employed counterparts?
Opinion
The EU’s ambitious emissions reduction targets will require a major increase in green investments. This column considers options for increasing public green investment when major consolidations are needed after the fiscal support provided during the pandemic. The authors make the case for a green golden rule allowing green investment to be funded by deficits that would not count in the fiscal rules. Concerns about ‘greenwashing’ could be addressed through a narrow definition of green investments and strong institutional scrutiny, while countries with debt sustainability concerns could initially rely only on NGEU for their green investment.
External Publication
An annual review of the euro published jointly by Fundación ICO and Fundación de Estudios Financieros to expand knowledge, raise awareness of the single currency, and suggest ideas and proposals for strengthening its acceptance and sustainability.
Past Event
Presentation of the Yearbook of the Euro 2022.
Blog Post
The lowest income households are suffering disproportionally from the current inflation increase, with rising energy prices the main culprit.