A BUDGETARY CAPACITY FOR THE EUROZONE: A FEDERALIST VIEW

By DAVID GARCIA and PAOLO VACCA

This Policy Brief attempts to provide some answers from a federalist perspective to the comprehensive series of questions listed by rapporteurs Pervenche Berès MEP and Reimer Böge MEP ahead of the own initiative report on “a budgetary capacity for the Eurozone” in preparation by the Economic and Monetary Affairs Committee and the Budget Committee of the European Parliament. These questions and answers concern the structure, purpose and functioning of an eventual EMU fiscal capacity, as well as the ways to overcome the main political challenges that this sort of fiscal integration would entail. DOWNLOAD THE BRIEF

FOR A FEDERAL EUROPEAN UNEMPLOYMENT INSURANCE SCHEME
By DOMENICO MORO

This paper strives to identify how a European Unemployment Insurance Scheme (EUIS) could benefit the euro area which characteristics it should have. It examines the US Unemployment Compensation system, providing considerable insight on the stabilising effects that could be expected from an EUIS, as well as illustrating how a federal-level system can be conciliated with a variety of state social regulations. The paper proposes the creation of an EUIS fully managed at the European level, able to cover a significant part of short-term unemployment benefits. Read more...

BUILDING EUROPEAN ASYLUM AND IMMIGRATION POLICIES AND A EUROPEAN BORDER SERVICE
By ANTON LAZARUS

Geopolitical turmoil, wars, conflicts, poverty, natural disasters and climate change pushed more than a million people to come to Europe in 2015 alone.Such trends look set to continue in 2016. In the absence of a united European system to manage the external border and a comprehensive European Asylum and Immigration Policy, the most exposed Member States are left almost alone to cope with the arrival of large numbers of people and their transit through or settlement in their territories. Read more...

IMPROVING THE EFFICIENCY, DEMOCRACY AND LEGITIMACY OF THE EU INSTITUTIONS WITHIN THE CURRENT TREATIES: POSSIBILITIES AND LIMITS (20 PROPOSALS)
By DAVID GARCIA and PAOLO VACCA

This policy brief takes five fundamental benchmarks of governance systems as main objectives and identifies the possibilities offered by the Treaty of Lisbon allowing decision makers to address the institutional flaws, dysfunctions and practices that prevent the Union from working in a fully democratic and effective manner. At the same time, it points out actual limitations imposed by the Union’s current legal framework. The result of this research is a list of 20 proposals that, implemented as a package, could lead to considerable improvements in the functioning of the Union. Read more...

ENHANCED COOPERATION AND ECONOMIC AND MONETARY UNION: A COMPARISON OF MODELS OF FLEXIBILITY
By GIULIA ROSSOLILLO

Many have proposed that enhanced cooperation might be a useful instrument to complete the Economic and Monetary Union. This prospect presents some problematic aspects, on account of the difficulty of reconciling an instrument designed to provide geographical flexibility and a particular form of differentiation – the EMU – with its own defined membership and which is increasingly tending to constitute a veritable subsystem within the European Union. Read more...

THE GERMAN QUESTION AND THE EUROPEAN QUESTION. MONETARY UNION AND EUROPEAN DEMOCRACY
By GUIDO MONTANI

The dramatic clash between creditor and debtor countries in the EU shows that radical reforms are required. In this paper we argue that the EMU is a political project: it is a European public good, which must be provided by a legitimate democratic government. Yet during the crisis, Germany played the role of leading country, and the old dilemma between a German Europe and a European Germany cropped up again. Here we examine two interjurisdictional spillovers caused by asymmetries among the governance and size of the economies in the euro area: the bank-sovereign nexus and the internal deflation trap. Read more...

STRENGTHENING AND DEEPENING THE ECONOMIC AND MONETARY UNION WITHIN THE CURRENT TREATIES: POSSIBILITIES AND LIMITS (25 PROPOSALS)
By DAVID GARCIA and PAOLO VACCA

This policy brief analyses the possibilities that the Treaty of Lisbon offers in order to deepen and strengthen the Economic and Monetary Union and improve its democratic legitimacy and effectiveness. Read more...

A BUDGET FOR THE EURO AREA: OBJECTIVES, PROCEDURES AND INSTITUTIONS
By DOMENICO MORO

This paper analyses the measures possible to take within and outside the Treaties to strengthen the economic governance of the eurozone, before finally discussing the prospect of equipping it with its own budget, and analysing its objectives, the procedures possible to establish it, and the institutional mechanisms to manage it. Read more...

THE UKRAINIAN CRISIS: LESSONS FOR EU'S FOREIGN AND DEFENCE POLICY

By ELISA LIRONI

When the Ukrainian crisis started in 2013, with the EuroMaidan protestors flooding the whole country from east to west, the EU was baffled and uncertain on how to react. After more than one year from its beginning, the crisis has led the EU to take concrete actions and rethink its relations with Ukraine and Russia, but it has also revealed the limits of EU’s foreign and security policy. Read more...

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