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11. The Dutch Referendum on the EU-Ukraine Association Agreement

Author:
Guillaume Van der Loo
Publication Date:
04-2016
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
In an advisory referendum held in the Netherlands on April 6th, over 61% of the voters rejected the ratification of the Association Agreement (AA) between the EU and Ukraine. If the Dutch government were to act on the outcome of the referendum, which had a low turnout of 32%, an unprecedented situation would emerge in which an EU international agreement cannot enter into force because a member state is not in a position to ratify it. Although the political character of this referendum and the Dutch Advisory Referendum Act (DRA) and the geopolitical implications of the AA itself have already been the subject of heated discussions in the Netherlands and beyond, the legal implications of this referendum remain unclear.
Topic:
Diplomacy and Geopolitics
Political Geography:
Ukraine, Netherlands, and European Union

12. 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

13. 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.