Publications in: Economic and Monetary Union

Key take-aways from the Monti report

The way the EU finances itself has been under criticism for years. Now, Brexit opens the door to comprehensive change. In this blog post, Jörg Haas summarises the reform recommendations made by the recently published Monti Report and provides some context. Why does the current system need reforming, what does the report propose and what are possible next steps? mehr more

Reforming EMU: Legislation and Treaty Change

Our author Federico Fabbrini gives guidance on how to introduce several needed changes to EMU, suggesting that many reforms can be accomplished by ordinary EU legislation, but that improving the EU institutional system ultimately requires changing the EU treaties. In this regard, Brexit may offer a window of opportunity. mehr more

How to prioritize structural reforms in the euro area

To overcome low growth in Europe the European Commission, the ECB, the IMF and the OECD have all called for more structural reforms. Taken together, the number of reform recommendations rank in the hundreds. Anna auf dem Brinke and Henrik Enderlein explain how to identify reform priorities and show that is it possible to present a comprehensive reform agenda for the euro area on one page. mehr more

Future of the Capital Markets Union after Brexit

The UK’s capital markets play a central role in Europe’s financial system. Brexit now threatens to detach the EU from the UK. In this policy paper Philipp Ständer analyses the economic and political implications of Brexit for Europe’s Capital Markets Union (CMU). First, the paper analyses which capital market segments would be most affected when the UK loses access to the Single Market. Second, it compares the political support for CMU before and after the Brexit referendum. mehr more