Euro & Finance
ECB reshuffle: The EU can do better than gentlemen’s agreements behind closed doors
Appointments to the European Central Bank's Executive Board are no less than a strategic and political decision over the future of the Eurozone. But experience has shown this process is not transparent, open, and democratic enough to protect the ECB from its legitimacy gap, argue Stanislas Jourdan and Sebastian Diessner.
Of funds and values: Conditionality in EU cohesion policy
As the EU's multi-annual budget is being negotiated, the amounts and efficiency of spending matter but also priorities and European values when disbursing programmes. Smarter conditionality is needed, triggering less political backlash, and, where needed, direct payment to beneficiaries, argue Benedek Jávor and Laszlo Andor.
Green transition: ECB and budgetary authorities should face their responsibilities
Reforming the rules for coordinating budgetary and economic policies in the eurozone is a necessity to conciliate economic, social and climate objectives, write Olivier Bodin and Michael Vincent.Promoted content
Building a stronger Europe – the case for listed real estate
Listed real estate plays a key role in all aspects of our everyday lives and should be strongly represented in EU policymaking. From spearheading transparency to creating jobs across Europe, the unique contributions of listed real estate is more vital than ever to the EU economy, writes Tobias Steinmann.
Member states must not let Commission stand against Italy alone
The rejection of Italy’s draft budget by the European Commission on Tuesday is unprecedented in the history of the Stability and Growth Pact. Member states cannot sit idly by but must take a more active role in the political conflict over fiscal sovereignty.
Rising inequality calls for a new social contract
The gap between rich and poor in Europe has increased compared to thirty years ago, affecting young cohorts in particular. Yet the social protection systems currently in place across European countries were designed during the past century and are no longer fit for the present, argues Cyril Muller.
Visegrad’s place in the next EU Budget
Vladislava Gubalova argues that Visegrad countries should not be considered as having caught up with older EU members, while taking aim at Sofia for attracting too much financing.
Lessons from Lehman: It’s the real economy and politics that matter
There are few safeguards against a repeat of the “Great Recession” triggered ten years ago by the collapse of Lehman Brothers, writes Karl Aiginger. However, it will be different from the crisis of 2008 and there is a lot we can do to make it less likely and less severe, he argues.
Time to measure progress to complete Capital Markets Union
Almost three years on from its launch, the Capital Markets Union needs renewed momentum to see it reach fruition and deliver on the promise of deep and well-integrated EU capital markets. Simon Lewis outlines why now is the moment to assess its progress so far.
A ”facelift” to the EIB: the EU financial arm needs forward-looking reforms
The European Investment Bank (EIB) celebrates this year its 60th anniversary. But the 1958-founded EU body and bank should now look forward and commit to becoming a more sustainable, accountable and transparent institution, writes Xavier Sol.Promoted content
Role of investment hubs in global FDI flows: unknown, unloved?
On May 22, the Investment Facilitation Forum (IFF) holds an event that seeks to clarify the role of investment hubs and explore how their activities are linked to the EU tax agenda, financial regulation and the assistance to developing countries. Ahead of the event, the IFF president shares his view on the importance of distinguishing between investment hubs and tax havens.
Member states should renew fiscal vows
In 2012, all but two EU member states committed themselves to strengthening the rules and institutions that govern their national budget preparation processes by signing the European Fiscal Compact. However, little has been done since, writes Michal Horvath.
Making the most of the European Values Instrument
The European Values Instrument can provide a much-needed boost to the weakened resilience of European democracies. However, the details of its structure will determine whether this opportunity will be grasped, write Jan Jakub Chromiec and Katarzyna Pełczyńska-Nałęcz.
European Parliament sounds the alarm over developing world debt crisis
The number of poor countries facing major debt crises has doubled since 2013, and only 1 in 5 are now considered to be at low risk of crisis. With some countries in the midst of crisis and others on the brink, meeting the Sustainable Development Goals (SDGs) remains a pipe dream, writes Mark Perera.
What kind of budget do Europeans need?
The EU's new multiannual budget must reflect its new ambitions. Europe must assert itself as a geopolitical entity, as a democratic power with not only an economic dimension but social and cultural as well, writes MEP Maria João Rodrigues.
No more excuses: The EIB needs a responsible policy against tax abuses
The EIB is a public institution and supports projects in the name of EU policies. Therefore it is high time for the EU bank to ask for more than what commercial banks do for the sake of justice and broader public interest, write Xavier Sol andAntonio Tricarico.
Brexit financial services deal will be difficult
The industry has accepted that so-called “passporting” rights will not be possible after Britain leaves the EU. The concept of “equivalence” has been mooted as a solution but even agreeing to that will be difficult, writes Mark Boleat.
AI and robots should not be attributed legal personhood
Technology has revolutionised the financial industry, but we’re long overdue a revolution in the way we think about its future role and the policies that should govern it, write Daniel Schlaepfer and Hugo Kruyne.
A specific Brexit finance deal benefits the EU
By not embracing the UK financial sector in a future trade deal, the EU might chase global capital markets away from Europe. The idea that Europe will win by keeping London at arm’s length is naïve at best, writes Georges Ugeux.
Debt: A measure of EU democracies illness
In discussions over the EU's next multi-annual budget, EU institutions need to pursue their efforts to decrease the burden of debt, write Cécile Philippe and Diego Sanchez de la Cruz.
AI: The future of renewable energy investment
Companies like Google and Amazon, as well as investment funds, are pouring millions of dollars into renewable energy. The use of predictive management tools and Artificial Intelligence is becoming more and more common in this process, writes Rodrigo Villamizar.
Reinvigorating Europe by investing in its people – vital role of EU budget
The EU has set itself an ambitious social agenda in the shape of the European Pillar of Social Rights, but the biggest test will be whether decision-makers will put their money where their mouths are by providing the necessary funds, writes Jana Hainsworth.
EU lobbying rules must apply at the ECB
The European Central Bank should meet the same demands as the Commission when it comes to lobbyists in its advisory structure, insists the Corporate Europe Observatory.