The EU is updating its energy strategy with new targets for 2030 and the intention to create an Energy Union. At this event we want to discuss the quantitative headline targets for 2030* but also the instruments to reach such targets and at the same time create an Energy Union. *(Commission proposal: 27% renewables, 30% energy efficiency and 40% greenhouse-gas reduction) The event will be live-streamed on this page.
Japan’s economy has experienced long-term stagnation for over 20 years. Since Autumn 2012, drastic economic policies known as ‘Abenomics’ have been enforced to break this pattern. Meanwhile inflation in the EU is an alarming indicator of a possible deflationary phase that could cripple economic activity. These phenomena are similar to those experienced in Japan in the 1990s. This conference offers the possibility to deepen our economic understanding of two major economies facing similar problems and opportunities. This event will be live streamed.
Education is central to the growth agenda in Europe. Knowledge and skills are key drivers of productivity growth in advanced economies. Enrolment in tertiary education has increased in recent years, especially in newer EU member countries. The earning premiums for people with higher education are significant. However, education is not just about the level of attainment, but also about the skills acquired and whether those capabilities are adequate for the job market. Increasing youth unemployment and the growing skill and job gaps in Europe unfortunately suggests that it is not the case. In that regard, mobility can play an important role, as one of a set of measures, by expanding the experiences and perspectives of young people and broadening their mindset about future opportunities. The importance of both higher education and mobility are reflected in EU policy. Currently, only 10% of students in higher education are mobile. Under the Bologna Process agreement, the mobility of at least 20% of higher-education students should complete some of their studies in another country by 2020. In this session, we will discuss the opportunities and challenges of mobility for students in higher education as part of the broader issue of addressing the skills and employment gaps in Europe. A recent EIF working paper, “Financing the Mobility of Students in European Higher Education” will be shared which provides an overview of the importance and tendencies of financing higher education and students’ mobility. The analysis investigates problems stemming from unequal access to financing of education and associated costs of mobility and the necessity of policies to correct existing market failures. These and other EU-level policies will be discussed. The discussion will be moderated by Karen Wilson, Senior Fellow at Bruegel. The meeting will start promptly at 12:00 and run until 13:30. A light lunch will be served until 14:00 to provide time for further discussion and networking. The event will be live streamed on this page.
This event will feature a presentation by Mahmood Pradhan and Petya Koeva Brooks based on the recently published IMF World Economic Outlook and other IMF research into Euro area external rebalancing. The presentation will be followed by comments by Philippe Weil and an open discussion chaired by Guntram Wolff. Since the global financial crisis, external imbalances have declined, both globally and within the euro area. However, within the euro area, the rebalancing has been highly asymmetric. While most debtor countries, such as Greece, Ireland, and Spain, have seen substantial current account improvements, this partly reflects cyclical factors and stock imbalances remain large. At the same time, creditor countries, such as Germany and the Netherlands, have maintained very large and persistent surpluses, partly reflecting weak domestic demand. The presentation will analyze the factors that are holding back a more balanced recovery, and set out a policy agenda to support sustainable growth in the euro area and contribute to global rebalancing.
Bruegel would like to invite you to a Finance Focus Breakfast on “European Banks’ Business Models Evolving under Crisis Pressure.” Initial presentations by Jean-François Neuez and Simon Ainsworth will be followed by an open discussion chaired by Nicolas Véron. The business models of European Banks are evolving under a number of interrelated factors: the crisis and corresponding deleveraging & risk repricing, regulatory initiatives that have been enacted but are at various stages of implementation, the gradual buildup of Europe’s banking union, regulatory initiatives that are under discussion and may or may not materialize, and rapid technological change, to name only a few. Policy debates about banking reform are often at least partly based on somewhat abstracted considerations. By contrast, this session will provide an opportunity to take stock on current shifts from the observation of actual developments in the banking sector. This event will be held under the Chatham House Rule
Developing Asia remains the fastest growing region globally. Slowing external demand has hurt some economies in the region but as a whole Asia and the Pacific is on track for firm growth in 2014 and 2015. Presenting the update of the Asian Development Outlook 2014 (ADO 2014), Dr Wei will argue that moving forward structural reform processes in China, India, and Indonesia—the region’s three biggest economies—will be critical in shaping their growth outlook.
Dr. Wei will discuss the impact of the winding down of unconventional United States monetary policy on Asian financial markets. Although US policy could still surprise markets if higher growth than expected pushed the Federal Reserve toward an early interest rate increase, the effect on developing Asia would be modest next to the shock caused in 2013 by anticipated tightening. Finally, he will maintain that demand and benign international commodity prices will keep inflation moderate in developing Asia. As many economies in Asia have grown by connecting with global value chains, he will argue that strengthening them could further stimulate expansion of
industry and services and create jobs. The presentation will be followed by comments and an open discussion chaired by André Sapir. The event will be live streamed on this page.
Economic stagnation in Europe calls for action by policy makers. There is no unanimous consensus however about the tools that should be used to reignite Europe's engine. The adoption of rules or policies that directly or indirectly ensure a domestic control or protection of the national economy is amongst the most controversial proposals. Foreign takeovers, for example, are often a source of concern for national governments. There is a public perception that when a company owned by domestic shareholders loses control to the benefit of a foreign investor, the risk of losses for the national economy is increased. It is believed that foreign investors may, for example, be less concerned with productivity drops, job losses or cuts in research expenditure. Last spring Alstom/GE and Pfizer/Astrazeneca prompted new waves of debates in the public domain. During this talk we will address the following questions:
Centre for European Affairs, member of the Central European Strategy Council, Bruegel, the Ministry of Finance of SR
and Ministry of Foreign and European Affairs of SR are organizing another round of TATRA SUMMIT conferences in Bratislava. The event will review the unfolding design of the 2014 EU political cycle, shaped by changes in the leadership posts of the EU institutions and their outlined policy goals for the next five years. The main aim of the conference is to address strategic growth agenda. Furthermore, the debate will look at the key priorities of the new political cycle in Europe. In reference to that, the panels will seek to address the following areas - the flexibility of the stability and growth pact; the state of EMU completion; the area of multispeed Europe in the context of the new EU architecture; buildup of the EU energy union and its impact on the industry competitiveness. TATRA SUMMIT 2014 will also provide a platform for Central Europe to present its recommendations and regional priorities, and, thus, make its voice heard in the unveiling political cycle of the EU. More information of this event will be available shortly
We are pleased to announce that the 11th AEEF conferencewill take place on 5-6 December 2014 in Tokyo, Japan. The event is jointly organised by this year’s host Asian Development Bank Institute (ADBI), Chinese Academy of Social Sciences (CASS), and Korea University (CEAS) on the Asian side and Bertelsmann Stiftung, Bruegel and Centre d'Etudes Prospectives et d'Informations Internationales (CEPII) on the European side. The event will bring together a range of high-ranking participants, including active and former senior policymakers, recognized academic experts and private sector specialists. The programme of this event is still under construction. More information will be available on this page shortly. About AEEF With a growing recognition for the need to diversify and consolidate the linkage between economists and practitioners from Asia and Europe, five institutions from Asia and Europe agreed in 2006 to establish an Asia Europe Economic Forum (AEEF) to serve as a high level forum, giving Asian and European policy experts an occasion for in-depth research-based exchanges on global issues of mutual interest.