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12. Don't complicate it even further: Macroeconomic Conditionality as a Substitute for new Structural Reform Contracts
- Author:
- Stijn Verhelst
- Publication Date:
- 05-2013
- Content Type:
- Policy Brief
- Institution:
- EGMONT - The Royal Institute for International Relations
- Abstract:
- The idea of introducing contracts between Member States and the EU on structural reforms has its merits, it also has several disadvantages. Most notably, the contracts risk rendering European economic governance even more complex and cumbersome. It is therefore sensible to first try to integrate the structural reform contracts into one of the foreseen economic governance instruments.
- Topic:
- Economics, International Trade and Finance, Regional Cooperation, Governance, and Reform
- Political Geography:
- Europe
13. Assessing the Single Supervisory Mechanism: Passing the point of no return for Europe's Banking Union
- Author:
- Stijn Verhelst
- Publication Date:
- 06-2013
- Content Type:
- Working Paper
- Institution:
- EGMONT - The Royal Institute for International Relations
- Abstract:
- Europe's financial and sovereign debt crises have become increasingly interconnected. In order to break the negative feedback loop between the two, the EU has decided to create a common supervisory framework for the banking sector: the Single Supervisory Mechanism (SSM). The SSM will involve a supervisory system including both the national supervisors and the European Central Bank (ECB). By endowing the ECB with supervisory authority over a major part of the European banking sector, the SSM's creation will result in a shake-up of the way in which the European financial sector is being supervised. Under the right circumstances, this could be a major step forward in addressing Europe's interconnected crises.
- Topic:
- Debt, Economics, Regional Cooperation, Monetary Policy, and Financial Crisis
- Political Geography:
- Europe
14. Money for Structural Reforms in the Eurozone:making sense of contractual Arrangements
- Author:
- Xavier Vanden Bosch
- Publication Date:
- 05-2013
- Content Type:
- Working Paper
- Institution:
- EGMONT - The Royal Institute for International Relations
- Abstract:
- Both the Commission's proposal for a 'Competitiveness and Convergence Instrument' and the 'contractual arrangement' presented by President Van Rompuy share a common concept: associating EU money with national structural reforms under a binding arrangement.
- Topic:
- Economics, Markets, Regional Cooperation, Labor Issues, Monetary Policy, and Reform
- Political Geography:
- Europe
15. Financing the answer to climate change: challenging but feasible
- Author:
- Clémentine d'Oultremont
- Publication Date:
- 10-2011
- Content Type:
- Working Paper
- Institution:
- EGMONT - The Royal Institute for International Relations
- Abstract:
- An agreement on climate finance is crucial to ensure an equitable approach between developed and developing countries in the fight against climate change. Given their economic capabilities and their historical responsibility for global warming, developed countries are expected to bear the majority of the costs associated with global climate action. The Cancun Agreements formalise a commitment by developed countries to jointly provide USD 30 billion for the period between 2010 and 2012 and USD 100 billion annually by 2020 for developing countries. This funding will be balanced between adaptation and mitigation and is destined primarily for the most vulnerable developing countries. The objective is to help developing countries adapt to the adverse impacts of climate change and to undertake mitigation actions so as to bring them towards a low-carbon economy.
- Topic:
- Climate Change, Development, Economics, Emerging Markets, Industrial Policy, and Treaties and Agreements
16. The Reform of European Economic Governance : Towards a Sustainable Monetary Union?
- Author:
- Stijn Verhelst
- Publication Date:
- 06-2011
- Content Type:
- Working Paper
- Institution:
- EGMONT - The Royal Institute for International Relations
- Abstract:
- The euro is a rather unusual currency as it is shared by a union of largely independent states. This results in a single supranational monetary union, while most 'economic' matters are decided on a national level. A key challenge in such a system is to ensure that the different levels of decision-making do not undermine the advantages of the common currency. For this reason, the European monetary union has been buttressed by economic integration, resulting in the Economic and Monetary Union (EMU).
- Topic:
- Debt, Economics, Monetary Policy, Financial Crisis, and Governance
- Political Geography:
- Europe
17. The Single Market in need of a strategic relaunch
- Author:
- Tinne Heremans
- Publication Date:
- 01-2011
- Content Type:
- Working Paper
- Institution:
- EGMONT - The Royal Institute for International Relations
- Abstract:
- On the 27th of October 2010 the Commission finally published its long-awaited Communication “Towards a Single Market Act” with the ambitious objective of relaunching the Single Market. It is beyond doubt that the market integration project is indeed in need of a serious boost. On the one hand, the “acquis” should be buttressed more firmly against protectionist reactions, citizen distrust and integration lethargy more generally. On the other hand, the untapped growth potential – in domains suffering from persistent bottlenecks as well as in new sectors – needs to be better exploited. It will however be argued in this contribution that, in its present form, the Commission's “Draft Single Market Act” (Draft SMA) does not contain all the strategic building blocks needed to address the key challenge of reengaging the different actors in the market integration project and genuinely revamp the Single Market. Therefore, on the basis of an examination of the gaps and defaults in the Draft SMA's approach, and against the background of the preparatory documents presented by Mario Monti and the European Parliament, some suggestions for possible strategic improvements to be included in the final SMA will be made.
- Topic:
- Economics, Markets, Regional Cooperation, and Monetary Policy
- Political Geography:
- Europe
18. Renewed Financial Supervision in Europe – Final or transitory?
- Author:
- Stijn Verhelst
- Publication Date:
- 03-2011
- Content Type:
- Working Paper
- Institution:
- EGMONT - The Royal Institute for International Relations
- Abstract:
- In order to obtain financial sector stability, adequate financial regulation and supervision are paramount. Despite their crucial role, both failed to prevent or at least mitigate the financial crisis. While financial regulation strives to impose a set of rules that ensure a safe and resilient financial sector, it has proven to contain too many gaps and loopholes.
- Topic:
- Debt, Economics, Markets, Monetary Policy, Financial Crisis, and Governance
- Political Geography:
- Europe
19. Fragile states and the international response: in pursuit of security or development?
- Author:
- Koen Vlassenroot
- Publication Date:
- 09-2009
- Content Type:
- Policy Brief
- Institution:
- EGMONT - The Royal Institute for International Relations
- Abstract:
- In the pursuit of security and development in Africa, more and more reference is being made to the concept of fragile states. This paper explores the meaning of this concept and considers the attention that is being paid to it as a consequence of integrating security and development into the policy of the major donor countries. In an African context state fragility is a cause of numerous conflicts, but also a major focal point of peace processes and donor interventions. This paper is intended to be a warning against a too narrow focus on security in the process of combating fragility. It pleads for an integrated policy, based on the pursuit of sustainable development and emphasises the strengthening of the authority and power of the state and the promotion of local economic and social development.
- Topic:
- Conflict Resolution, Security, Political Violence, Development, Economics, and Fragile/Failed State
- Political Geography:
- Africa