On 25 March 2017 the European Union celebrates the 60th anniversary of the Treaty of
Rome. With Brexit around the corner and the EU searching for its future strategy, we
talk to EU law Professor Federico Fabbrini on the legal challenges ahead.
Van Rompuy, Herman; Bonazzi, Roberta; Frontini, Andrea; Ritzmann, Alexander; Manea, Elham; Goodwin, Matthew; Azinovic´, Vlado; Murat Seyrek, Demir; Paul, Paul; Farid,, Marwa; Sutton, Rupert; Abbas, Tahir; Vidino, Lorenzo
Today Europe finds itself on the frontline in the fight against terrorism
and jihadist radicalisation. Over the past fourteen months, the
horrendous terrorist attacks that have taken place in France, Germany
and Belgium, as well as in Turkey, Tunisia, and elsewhere around the
world, have claimed hundreds of lives. As a Belgian national, the three
bombs that were detonated in my country, in the departure hall of
the Brussels International Airport in Zaventem, and at the Maelbeek
Metro station, a few hundred metres from key EU institutions, was a
particularly traumatic moment for me. In many ways, the attacks of
22 March were Belgium’s own 9/11, representing the worst...
As the dust settles from the European Parliament’s (EP) mid-term election held on 17 January 2017, migration continues to top the EU’s agenda. The election of Antonio Tajani to replace Martin Schulz as president of the EP brought the institution under the leadership of the European People’s Party (EPP) after a power-sharing agreement with the socialist S&D was cancelled and replaced by a last-minute deal with the liberal ALDE group. A closer look at Tajani’s election and associated reshuffle of key internal positions suggests little change in the EP’s course on migration in the short term. However, upcoming developments may...
Emmanouilidis, Janis A.; Fabbri, Francesca; Rittelmeyer, Yann-Sven; Schout, Adriaan; Stratulat, Corina; Zuleeg, Fabian
In the upcoming weeks and months national elections will be held in four founding member states of the EU: the Netherlands, France, Germany and Italy. With radical, anti-establishment forces on the (far) left or (far) right side of the political spectrum riding the gusty populist headwinds across Europe (and beyond), many fear that the results will mirror earlier electoral upheavals such as Brexit and the election of Trump, raising the stakes of the votes for each national context, as well as for the EU as a whole. This Discussion Paper takes a closer look at the upcoming elections in all...
Emerson, Michael; Busse, Mathias; Di Salvo, Mattia; Gros, Daniel.; Pelkmans, Jacques.
This paper, managed by the Policy Department on Economic and Scientific Policies
for the Committee on Internal Market and Consumer Protection, assesses the
likely impact of Brexit on EU27, together with some scenarios for the terms of the
UK’s secession. For the EU 27, the losses are found to be virtually insignificant,
and hardly noticed in the aggregate. By contrast, for the UK, the losses could be
highly significant, over ten times greater as a share of GDP. Impacts on various
Member States – in particular Ireland – and sectors in the EU27 could be more
The European Commission recently announced its intention to mainstream the Sustainable Development Goals in its policy process, as part of its approach to implement the 2030 Agenda. This explicitly involves the EU's better regulation agenda, but the current tools and methods used in both ex ante impact assessment and ex post policy evaluation would need to be adapted to link better regulation with SDGs more effectively. More generally, this would also mean that the better regulation agenda becomes an instrument for policy coherence in EU public policy, and not only an instrument for efficiency.
In this paper, the author reflects on...
The present economic crisis in Russia is conditioned above all by political factors. The crisis is proof of a serious dysfunction of the model of economic governance which is subordinated to the government elite’s individual interests. Because oil prices were at a high level until 2014, this model could work at a relatively low social cost.
However, now that the oil prices are remaining at a low level and given the lack of internal sources of long-term economic growth, the country is facing the risk of a long-lasting stagnation. It will lead to an inevitable degradation of the Russian economy and,...
Even before the outcome of the case between Syrian asylum-seekers v. the Belgian state (X and X v. Belgium) was known, on the morning of the 7th of March 2017 a Dutch
newspaper printed the headline: “Decision of the European Court today could lay a bomb under the European asylum system”.1 Well, it did not. In X and X v. Belgium, the Court
of Justice of the European Union (CJEU) decided to take a rather formal, possibly even politically motivated approach, concluding that member states have no positive obligation to issue humanitarian visa to Syrian families, even if they are at risk...
Egenhofer, Christian.; Stroia, Cristian; Popov, Julian
The Central and South Eastern Europe Gas Connectivity (CESEC) is a major political success for the European Commission and the member states in their bid to integrate Central and South East European (C&SEE) energy systems. CESEC has already made a significant contribution to strengthening the regional and wider European energy security.
The European Commission’s flagship initiative of the Capital Markets Union (CMU) aims to unlock funding for capital markets and find ways of linking investors and savers with growth. A number of very disparate measures will, it is hoped, have a cumulative but significant impact on the creation of a single market for capital. By the end of 2017, the Commission expects to have finalised and implemented the first phase of CMU measures, which include: an EU framework for simple, transparent and standardised securitisation; prospectus rules that facilitate access to capital markets and generate more, but less costly, financing opportunities; and...
Multiple objectives are being pursued by the European Commission with its
amendments to prudential rules in the banking reform package. On the core
capital requirements side, there is the further alignment of EU rules with the Basel
rules, in the leverage and net stable funding ratio, for example, and the softening of capital
requirements for trading positions. On the resolution side, there is the alignment of bail-in
standards TLAC (total loss-absorbing capacity) and MREL (minimum requirement for own
funds and eligible liabilities) – an issue for large globally active banks. And on the bank
business models side, there is the recalibration of the capital requirements for bank
Tuokko, Katja; Greenwood, Justin.
This commentary maps European Citizens’ Initiatives (ECIs) that have fostered a European-wide debate and finds common characteristics among the campaigns that remained active following the period of collecting signatures. Despite campaigners’ fears that the current problems in implementing the instrument discourage its use, the authors find that the ECIs have contributed to a European public debate with cross-border communication and the exchange of knowledge among networks of actors.
Hu, Weinian; Pelkmans, Jacques.
Given the nationalism and blunt protectionism that characterises President Trump’s
trade policy, the primary focus of the EU should not be on how to respond to his
rhetoric. The EU should rather double its efforts to pursue its own, sensible trade and
investment liberalisation agenda. This is not only rational because of the economic gains that
will come in the longer run from competitive winds that will blow in Europe, it is also
appropriate because Trump is likely to find himself pretty much alone in his nationalistic and
selectively protectionist agenda. The intended ‘bilateral deal’ approach, driven by (im)balances
in bilateral goods trade, does not seem to...
The separation of so-called legacy assets from the remaining healthy business of a bank
has become a central concern in risk management and supervision. In the European Union,
non-performing loans amount to over €1 trillion and an additional stock of non-core assets
that is at least as large is also being offered in the secondary market
Bordignon, Massimo; Moriconi, Simone
Legal and political issues left the management of the 2015-16 refugee crisis mostly in
the hands of national governments, but this is incompatible with an integrated economic
area that has largely abolished internal borders. It is also incompatible with some founding
European Union principles, such as the existence of a common European policy on the
mobility of people.
The global financial crisis allegedly led to the end of global banking. However, we find
that reports of the demise of global banking are premature. Among the global systemically important
banks, we find that there has been a shift of business from the global European banks
to the more domestic Asian banks, which are gradually increasing their global reach. The US
banks have maintained their strong position. Within Europe, we find a mixed picture. The
euro-area banks have maintained their global reach, while UK and Swiss banks have experienced
a significant decline in their geographic reach.
Cardiff EDC, .
A guide to information sources on the Republic of Turkey, with hyperlinks to information within European Sources Online and on external websites (For other language versions of this record click on the original url)
Cardiff EDC, .
A guide to information sources on the Swiss Confederation, with hyperlinks to information within European Sources Online and on external websites.
Cardiff EDC, .
Un ghid către sursele de informare despre Republica Moldova, cu hyperlink-uri
către informațiile de pe pagina European Sources Online și alte site-uri externe
Cardiff EDC, .
A guide to information sources on the Republic of Moldova, with hyperlinks to information within European Sources Online and on external websites.