David Cameron’s speech on Europe was predominantly tactical. So, too, are the reactions from Berlin and Paris. But the British prime minister’s speech raises questions of broad significance for the whole of the EU. Should it be redefined as a permanently two-level edifice? And if so, how? Read more
Bruegel blog
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British angst over Europe will continue
24th January 2013
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The three dimensions of the euro area crisis
22nd January 2013
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, Asia-Europe Economic Forum conference on European troubles, Asian worries, Brussels, 21 January 2013. Read more
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Merkel et Hollande doivent se projeter dans l'avenir et développer un projet qui fasse sens
18th January 2013
ParisBerlin Jean Pisani-Ferry, directeur de l’institut Bruegel, Bruxelles/Janvier 13 ITW réalisée par Henri de Bresson/ParisBerlin Version longue relue pour internet et facebook L‘Allemagne a commencé à reformer il y a dix ans sous les sociaux-démocrates. En France même la droite qui avait promis de réformer ne l’a pas fait vraiment. Sur quoi repose ce décalage? Sans négliger les responsabilités politiques, je mettrais d’abord l’accent sur les sociétés. EnAllemagne et en France, les sociétés civiles, les partenaires sociaux, ont vécu les 20 dernières annéesde manière très différente. Le choc de la réunification a été un choc soudain, compliqué à gérermais profondément positif pour l’Allemagne. La mondialisation a créé de nouvelles concurrencesmais aussi renforcé sa vocation exportatrice. La France a reconnu les… Read more
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Bruegel's Franco-German roots
18th January 2013
“I have not been an enthusiastic supporter of each and every French, German, or Franco-German initiative, but I must say that this one was worth supporting”. This is how, in his characteristic style, Bruegel first chairman Mario Monti presented it to the press on 18 January 2005. Read more
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Blogs review: Japan and the end of orthodox policies
18th January 2013
What’s at stake: Japan, with its huge government debt, its aging population and its history of self-induced policy paralysis – or as Milton Friedman put it its “decade of inept monetary policy” – was not expected to be the country breaking with the economic orthodoxy of the day. Read more
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German views on aid for Cyprus
16th January 2013
After the Cyprus’s application for EU aid in June 2012, the negotiations on the programme are now getting concrete. The discussion in Germany about possible aid that is estimated between EUR 12 and 17.5 billion for the period 2013-2016 is focusing on the Cypriot financial sector which doesn’t enjoy a good reputation. In the German media, Cyprus and its banks are widely seen –rightly or wrongly - as a tax haven and a money-laundering base. Read more
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Inequality and adjustment in Europe
10th January 2013
Inequality differs across Europe. Some countries in major economic adjustment have been hit hard by an increase in inequality together with an increase in unemployment in the last couple of years. Especially France and Spain saw strong increases. At the same time, Germany has seen a significant fall in inequality and in unemployment during the last 5 years. Read more
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Blogs review: The trillion-dollar platinum coin option to the debt ceiling
10th January 2013
What’s at stake: What started as an arcane idea on a finance blog a couple of months ago – that the debt ceiling crisis could be averted by exploiting a legislation designed to govern the issuance of commemorative coins, which allows the Treasury to mint platinum coins, and only platinum coins, in any denomination – has moved center stage in the punditry debate and gone viral on Twitter under the hashtags #MintTheCoin and #StopTheCoin. Read more
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The year of Ireland?
9th January 2013
Ireland has assumed the role of the Presidency of the Council of European Union for the first half of 2013, which will likely attract more attention to the country. Yet the major question of the year is if Ireland will be able to return fully to market funding when the current official financial assistance programme expires at the end of this year. Read more
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ERC: indispensable for frontier research in Europe
9th January 2013
2012 was the year that the European Research Council (ERC) celebrated its 5th birthday. Although 5 years is still short for a sound evaluation of enduring effects, it is a good time to assess whether the ERC is set on the right track to deliver on its mission. Read more