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Begin New Search Content Type Policy Brief Publishing Institution Centre for European Policy Studies

1. Labour Mobility in Europe: An untapped resource?

Author:
Matthias Busse, Mikkel Barslund, and Joscha Schwarzwälder
Publication Date:
03-2015
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
The right of free movement of persons is a cornerstone of the European Union and, according to a Eurobarometer survey, one of the most popular accomplishments of the EU. Since its establishment this right has been steadily built upon and expanded, in particular with respect to mobile EU workers. Barriers to (labour) mobility have been substantially reduced as part of creating the single market and also as a means to achieve the EU2020 goals of smart and inclusive growth. And yet the prevailing view in academic circles and among policy-makers is that intra-EU labour mobility is too low; too low to support the single labour market as anything but a notion and too low to play anything other than a modest role in helping to rebalance the eurozone after the crisis.
Political Geography:
Europe

2. The ECB's QE: Time to break the doom loop between banks and their governments

Author:
Willem Pieter De Groen
Publication Date:
03-2015
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
The recent crises have shown that the eurozone countries' government debt is not immune to default. Applying a large-exposure requirement also to eurozone government debt would be a logical measure towards breaking the bank-government doom loop, given the low probability and high loss-given government default. But what would be the impact of the application of the large-exposure requirement on the banking sector as well as on government funding? This CEPS Policy Brief presents the results of a simulation exercise performed for 109 systemic banks in the eurozone, showing that their eurozone government debt portfolios would have to decrease by 3.2% or €63 billion, if a 50% of own-funds cap would be applied on large exposures. The eurozone central banks' demand for sovereign bonds under the extended asset purchase programme further creates momentum to start gradually implementing the restriction.

3. Many worlds of the 'low-skilled', but only one generic policy

Author:
Ilaria Maselli and Miroslav Beblavý
Publication Date:
01-2014
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
There is a general consensus that to achieve employment growth, especially for vulnerable groups, it is not enough to kick-start economic growth. It is also essential to improve the s kills among both the high-and low-skilled population.
Topic:
Economics, Migration, Science and Technology, and Labor Issues
Political Geography:
Europe and Somalia

4. Why too few students do maths and science

Author:
Ilaria Maselli and Miroslav Beblavý
Publication Date:
01-2014
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
Tackling the high and increasing unemployment rate ranks at the top of the EU policy agenda, especially with regard to young people. There is a general consensus that to achieve employment growth, especially for vulnerable groups, it is not enough to kick-start economic growth - skills among both the high-and low-skilled population also need to be improved. However, we need to move beyond simplified narratives and generic policies in order to better understand a much-debated and lamented phenomenon : the lack of graduates in subjects related to science, technology, engineering and mathematics (STEM).
Topic:
Education, Science and Technology, and Labor Issues
Political Geography:
Europe

5. Paving the Way for Micro-, Small- and Medium-Sized Enterprises in the Southern Mediterranean

Author:
Rym Ayadi and Willem Pieter De Groen
Publication Date:
01-2014
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
The Arab Spring, which took root in Tunisia and Egypt in the beginning of 2011 and gradually spread to other countries in the southern Mediterranean, highlighted the importance of private-sector development, job creation, improved governance and a more equitable distribution of economic opportunities. The developments led to domestic and international demands on the governments in the region to implement the reforms needed to enhance business and investment conditions, modernise their economies and support the development of enterprises.
Topic:
Economics, International Trade and Finance, Social Movement, and Reform
Political Geography:
Arabia, Egypt, and Tunisia

6. Falling short of expectations? Stress-testing the European banking system

Author:
Viral V. Acharya and Sascha Steffen
Publication Date:
01-2014
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
The eurozone is mired in a recession. In 2013, the GDP of all 17 eurozone countries fell by 0.5% and the outlook for 2014 shows considerable risks across the region. To stabilise the common currency area and its (partly insolvent) financial system, a eurozone banking union is being established. An important part of the banking union is the Single Supervisory Mechanism (SSM), which will transfer the oversight of Europe's largest banks to the European Central Bank (ECB). Before the ECB takes over this responsibility, it plans to conduct an Asset Quality Review (AQR) in 2014, which will identify the capital shortfalls of these banks.
Topic:
Economics, International Trade and Finance, Regional Cooperation, and Monetary Policy
Political Geography:
Europe

7. Next steps toward a final deal with Iran

Author:
Steven Blockmans and Luigi Scazzieri
Publication Date:
02-2014
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
On January 20th, the International Atomic Energy Agency (IAEA) confirmed that Iran had been implementing its commitments as part of the Joint Plan of Action (JPA) agreed by the E3+3 in Geneva on November 24th of last year. In particular, the Agency confirmed that Iran had not installed new centrifuges, that it had stopped enriching uranium above 5%, that it had disabled connections between cascades being used to enrich up to 20%, and that it had begun the process of diluting half of its stockpile of 20%, while the other half is to be converted to oxide over the next six months. Over the next six months, the IAEA will continue to monitor Iranian enrichment, and activities at Arak, Fordow and Natanz. Immediately following the IAEA announcement, the US and EU suspended some of the sanctions currently imposed on Iran. Sanctions relief, quantified at $7 billion, comprises both the suspension of some sanctions and the repatriation of $4.2 billion of oil revenues in tranches.
Topic:
Security, Economics, International Cooperation, International Organization, Treaties and Agreements, International Security, and Nuclear Power
Political Geography:
Iran

8. EU-Turkey Relations: Turning vicious circles into virtuous ones

Author:
Steven Blockmans
Publication Date:
03-2014
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
Concerns about the deterioration of democracy in Turkey are not new: the trials over the 2003 „ Sledgehammer ‟ alleged coup plan (2010-12) and over the ‟ Ergenekon ‟ secret organisation (2008-13) broke the military‟s influence over politics, but were widely criticised because of their reliance on secret witnesses and disputes over evidence. Ironically, their outcome has recently been challenged by Prime Minister Erdoğan himself, who has disowned the trials now that the judiciary has the AK Party in its sights. International concern was also stirred by the violent crackdown on the countrywide protests of May/June 2013. Unrest then was triggered by the planned redevelopment of Istanbul‟s Gezi Park in May 2013, but developed into a wider movement critical of government corruption, increasing restrictions on freedom of speech and concerns about the erosion of secularism. Protests simmered on through September, winding down in autumn and winter only to reignite in March of this year.
Topic:
Government, International Cooperation, Politics, Regional Cooperation, and Reform
Political Geography:
Europe and Turkey

9. Bail-in Provisions in State Aid and Resolution Procedures: Are they consistent with systemic stability?

Author:
Stefano Micossi, Ginevra Bruzzone, and Miriam Cassella
Publication Date:
05-2014
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
In July 2013, the European Commission adopted a new Banking Communication – the seventh since the start of the financial crisis – updating its criteria for the evaluation of state aid in the banking sector in response to the evolving economic and institutional environment. Under this Communication, any credit institution in need of recapitalisation or 'impaired asset' measures will be required, prior to any further action, to submit a plan for restructuring or the orderly winding down the bank. Moreover, whenever there is a capital shortfall, the Commission will require that, prior to any injection of public funds, not only shareholders – as has been the case so far – but also junior creditors write down or convert into equity their claims on the bank, regardless of whether the bank is under resolution, in order to minimise the need for state aid.
Topic:
Economics, International Trade and Finance, and Monetary Policy
Political Geography:
Europe

10. Investment as the key to recovery in the euro area?

Author:
Daniel Gros
Publication Date:
11-2014
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
The mantra in Brussels and all over Europe is that investment holds the key to recovery in the euro area. A central element of the new Commission's economic strategy is a proposed programme of investment of €300 billion.The emphasis on investment is not new, but has grown in strength as the euro area seems stuck in a never-ending recession.
Political Geography:
Europe