Content Type: Policy Brief / Political Geography: Europe

Author:: Dirk Schoenmaker and Svend E. Hougaard Jensen
Publication Date:: 06-2020
Content Type:: Policy Brief
Institution:: Bruegel
Abstract:: Though outside the euro area, Denmark and Sweden could benefit from joining the European Union’s banking union. It would provide protection in case of any need to resolve at national level a large bank with a Scandinavian footprint, and would mark a choice in favour of more cross-border banking. But joining the banking union would also involve some loss of decision-making power.
Topic:: Markets, European Union, Economy, and Banks
Political Geography:: Europe, Denmark, and Sweden

Author:: Marek Dabrowski, Marta Dominguez-Jimenez, and Georg Zachmann
Publication Date:: 06-2020
Content Type:: Policy Brief
Institution:: Bruegel
Abstract:: Since the Euromaidan protests (2013-2014), Ukraine has had two presidents and four governments. In a difficult environment of external aggression, they have initiated various reforms aimed at bringing the country closer to the European Union and boosting growth. Progress has been partial and relies on international backing, with limited domestic appetite for reform.
Topic:: Corruption, Privatization, Foreign Aid, Governance, Reform, European Union, Finance, and Macroeconomics
Political Geography:: Europe and Ukraine

Author:: Maria Demertzis, Marta Dominguez-Jimenez, and Annamaria Lusardi
Publication Date:: 07-2020
Content Type:: Policy Brief
Institution:: Bruegel
Abstract:: The concept of household financial fragility emerged in the United States after the 2007-2008 financial crisis. It grew out of the need to understand whether households’ lack of capacity to face shocks could itself become a source of financial instability.
Topic:: Governance, European Union, Finance, Macroeconomics, and COVID-19
Political Geography:: Europe

Author:: Ben McWilliams, Simone Tagliapietra, and Georg Zachmann
Publication Date:: 07-2020
Content Type:: Policy Brief
Institution:: Bruegel
Abstract:: In the wake of COVID-19, some economic recovery policies will help green the economy – for example, energy renovation of buildings. But there are limits to the share of stimulus that can be explicitly green. The European Union should therefore also green the fiscal consolidation by setting out the path to much higher carbon prices than today. This would guide investment and provide revenues to help the fiscal consolidation.
Topic:: Climate Change, Energy Policy, European Union, Economy, Renewable Energy, and COVID-19
Political Geography:: Europe

Author:: Maria Demertzis, André Sapir, Simone Tagliapietra, and Guntram B. Wolff
Publication Date:: 03-2020
Content Type:: Policy Brief
Institution:: Bruegel
Abstract:: 'Whatever it takes' needs to be the motto to preserve lives and reduce the impact on the economy of the epidemic.
Topic:: Governance, Economy, Central Bank, Macroeconomics, and COVID-19
Political Geography:: Europe

Author:: Reinhilde Veugelers and Georg Zachmann
Publication Date:: 04-2020
Content Type:: Policy Brief
Institution:: Bruegel
Abstract:: This Policy Contribution proposes a staged support scheme to tackle the COVID-19 vaccine challenge and a moon shot programme to meet the challenge of future pandemics.
Topic:: Health, Science and Technology, Innovation, Vaccine, and COVID-19
Political Geography:: Europe

Author:: Rebecca Christie and Thomas Wieser
Publication Date:: 05-2020
Content Type:: Policy Brief
Institution:: Bruegel
Abstract:: In the negotiations between the European Union and the United Kingdom over their future relationship, we see a high probability of a weak contractual outcome, given the dominance of politics over considerations of market efficiency.
Topic:: Markets, Governance, Europe, Brexit, Negotiation, and Macroeconomics
Political Geography:: United Kingdom and Europe

Author:: Julia Anderson, Simone Tagliapietra, and Guntram B. Wolff
Publication Date:: 05-2020
Content Type:: Policy Brief
Institution:: Bruegel
Abstract:: COVID-19 has triggered a severe recession and policymakers in European Union countries are providing generous, largely indiscriminate, support to companies. As the recession gets deeper, a more comprehensive strategy is needed. This should be based on four principles: viability of supported entities, fairness, achieving societal goals, and giving society a share in future profits. The effort should be structured around equity and recovery funds with borrowing at EU level.
Topic:: Climate Change, Energy Policy, Global Recession, European Union, and COVID-19
Political Geography:: Europe

Author:: Gregory Claeys
Publication Date:: 05-2020
Content Type:: Policy Brief
Institution:: Bruegel
Abstract:: To keep the euro-area economy afloat, the European Central Bank has put in place a large number of measures since the beginning of the COVID-19 crisis. This response has triggered fears of a future increase in inflation. However, the ECB's new measures and the resulting increase in the size of its balance sheet, even if it were to be permanent, should not restrict its ability to achieve its price-stability mandate, within its legal obligations.
Topic:: Governance, Central Bank, Macroeconomics, Judiciary, and COVID-19
Political Geography:: Europe

Author:: Alicia Garcia-Herrero and Elina Ribakova
Publication Date:: 05-2020
Content Type:: Policy Brief
Institution:: Bruegel
Abstract:: COVID-19 is by far the biggest challenge policymakers in emerging economies have had to deal with in recent history. Beyond the potentially large negative impact on these countries’ fiscal accounts, and the related solvency issues, worsening conditions for these countries’ external funding are a major challenge.
Topic:: Monetary Policy, Regulation, Finance, Economy, Central Bank, and COVID-19
Political Geography:: Europe, Asia, and Latin America

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