Visit EU2DO to sign up for Memos alert and to read the Memo to the new Presidents of the European Parliament European Council and European Commission.The new Commission, European Parliament and President of the European Council will enter office at a challenging time for Europe, the EU and the Commission itself. The results of the European elections, combined with the ongoing economic challenges, clearly call for the delivery of effective change and impacting measures.
Europe, the way ahead will be on the focus of this year’s Bruegel annual meeting. In the fall and after the European election, a new leadership will come into office. It will be time to reflect on the next steps Europe should take to overcome its weak growth performance; to re-invent its institutions and the collaboration process among them; to address the remaining banking problems; and also to revive the debate on the constitution and legitimacy of Europe. At the annual meeting, we would like to have an open and frank debate. High-level representatives of Bruegel's state;corporate and institutional members will gather;on 4-5 September in Brussels;to discuss the economic issues that will shape Europe under the new leadership and in the context of new global challenges. September 4 (on the record)
Economists and policy analysts know very little about the conditions under which cartels are formed in different legal environments, how they behave against outsiders, how they behave against deviating insiders, and how they react to changes in the economic environment. This event will provide a space to discuss these aspects, based on two projects funded by SEEK. One of the projects studies cartel organization – a topic on which there is little information to date – through the lens of legal cartels. While such cartels did not have to fear detection and prosecution, they faced the same internal organizational challenges as illegal cartels. The focus is on comparing empirically, in specific sectors, the organizational forms of legal cartels in countries with different legal regimes. The project has collected data on Austrian, Finnish, Norwegian, Swedish and American legal cartels. The other project has developed new theoretical insight into the anatomy of hard-core cartels and combined it with a rich data set on the recent German cement cartel. The results of this project will be presented to the audience attending the event. The private data set comprises about 340.000 market transactions from 36 customers of German cement producers and encompasses most of the period during which the cartel was functioning, as well as a period after the collapse of the cartel. This event is jointly organised by SEEK. <br/> <br/> <br/> <br/> Programme: 11.30 -11.45: Welcome speech by Reinhilde Veugelers, Bruegel 11.45 – 12.15: Legal Cartels in Europe – A Historical Episode?
Side-event to the 11th ASEM Finance Ministers Meeting, Milan, ItalyGrowth remains sluggish in Europe and increasingly is beginning to slow down cross emerging markets in Asia. This roundtable of leading economists will examine this issue by looking at the key factors that are likely to shape the evolution of Asian and European economies in the forthcoming months. Key issues that will be addressed include the effectiveness of monetary expansion in Asia and Europe as well as possible spillover effects of the US Federal Reserve’s tapering; the importance of the macro-financial links and the role of fiscal policy in European and Asian perspectives; the effectiveness of the new institutional framework developed in the context of the European Banking Union as well as the impact of the ECB’s comprehensive assessment; and the role of global demand factors and of investment in fostering sustainable growth.
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Young innovative firms face many difficulties accessing seed and early stage finance, and these difficulties have increased over the past several years. Banks have been reluctant to provide loans to startups as a result of the financial crisis. Meanwhile venture capital firms have become more risk averse and, in many cases, have focused on later stage investments. Angel investors have become more visible and active through groups, syndicates and networks, and increasingly are playing an important role in seed and early stage finance. Crowdfunding platforms in Europe are also engaging in equity financing. There has been increasing concern from policymakers around the world about the growing financing gap for high growth firms, particularly in the seed and early stage. As a result, governments in many countries have sought to address the financing gap and perceived market failures by supporting the seed and early stage market. However, the objectives behind these interventions often go beyond addressing financing gaps. Many countries recognize the critical role that young innovative firms play in creating jobs and economic growth and are seeking ways to facilitate the creation and growth of these firms. This event will highlight the gaps that exist in the seed and early stage market and the policies that governments have put in place, in Europe as well as other countries around the world, to address those gaps.
The ageing of populations is the most influential factor of healthcare system design. In Japan, 25% of the total population in 2013 was aged 65 years or older and the government population agency predicts that the proportion of this age cohort will rise to 30% and 39% in 2025 and 2050, respectively. A key concept of healthcare reform in Japan is “integration” in terms of both healthcare delivery system and healthcare finance system. There are, however, high political barriers. Europe is facing similar issues in terms of an ageing population and the implications for healthcare systems. Europe has the added challenge of balancing EU and Member State responsibilities in terms of the economic and social imperatives in healthcare. This event aims to shed light on the nexus of aging population and the sustainability and efficacy of healthcare systems. It will explore the funding and healthcare delivery systems in Japan and Europe, highlighting some of the lessons learned from Japan and their possible implications for Europe.
SW Kim is President Europe, Corporate Affairs, of Samsung Electronics Europe. He was formally head of global compliance at Samsung Electronics headquarters in Seoul. He trained as a lawyer and was between 1992-2005 Public Prosecutor in the Korean Ministry of Justice. SW Kim graduated in Law from Seoul National University before taking Visiting Scholarships at Stanford and Duke Law Schools and attending Columbia Law School.
Will debt restructuring save Europe from economic stagnation? William R. Cline’s new book, Managing the euro area debt crisis, addresses this question. The author – a Senior Fellow at the Peterson Institute of International Economics - traces the history of the recession and makes projections of future debt sustainability. The book offers a detailed analysis of the mistakes, successes and options for Europe as it struggles to overcome its worst economic disaster since World War II. At Bruegel’s Talk Cline will present his findings and engage in a discussion with the audience. To attend, please register through the online form below. We look forward to welcoming you on the 24th September at 12:45pm. Lunch will be provided.
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. Speakers include Yoshii Masahiko (Professor, Graduate School of Economics, Kobe University), Kazumasa Iwata (Director, President, Japan Center for Economic Research), Paul Sheard (Chief Global Economist and Head of Global Economics and Research for Standard & Poor's), Kiyoto Ido (Vice Chairman, Institute for International Economic Studies). Note that the programme for this event is still under development. More information will be posted shortly. This event is jointly organised with the Graduate School of Economics, Kobe University. We recognise the support of theToshiba International Foundation for the organisation of this event. <br/>
We are pleased to announce that Italian Finance Minister Pier Carlo Padoan is coming to Bruegel to talk about the economic choices ahead for Europe. High unemployment, low private and public investment and rising social inequalities mark the current stagnation of European economy. Despite the joint effort of Member States, the recovery is still fragile and it calls for strong action to foster growth and jobs. The EU is therefore at a crossroads, where it has to review its policy mix both at EU and country level.
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 evet 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.