This study provides an early evaluation of the assistance programmes implemented by the Troika in Greece, Ireland and Portugal. The study assesses the economic impact of the programmes and the consequences of their particular institutional set-up.

Paper based on the Asia Europe Economic Forum conference of 21-22 January 2013.

Articles published during the Bruegel/Korea Institute of Finance project on ‘EU-Korea policy responses to the global financial and economic crisis and the scope for internationalisation of the financial services industry’

The issue: The European Union's pre-crisis growth performance was disappointingenough, but the performance has been even more dismal since theonset of the crisis.

Europe has responded to the crisis with strengthened budgetary and macroeconomic surveillance, the creation of the European Stability Mechanism, liquidity provisioning by resilient economies and the European…

The response to the euro zone crisis, which has gradually developed since 2010, has not led to a search for federalism and it has hardly…

Extensive prior research on the economics of European monetary union highlighted some potential risks (the known unknowns) but overlooked others (the unknown unknowns). Asymmetries among…

"The Euro Crisis and the New Impossible Trinity" by Jean Pisani-Ferry was published in Moneda y Credito 234/2012. This external paper draws from the Bruegel…

Systemic banking crises are a threat to all countries whatever their development level. They can entail major fiscal costs that can undermine the sustainability of…

The euro area today consists of a competitive, moderately leveraged North and an uncompetitive, over-indebted South. Its main macroeconomic challenge is to carry out the…