Le Imprese non paghino le difficolta delle banche
by Ignazio Angeloni on 19 January 2010
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Category: OPINION PIECES AND COLUMNS
Topics: Financial markets and regulation, European and global governance
In this column, Visiting Scholar Ignazio Angeloni argues that the exit phase from the financial crisis will prove particularly dangerous for European small and medium sized enterprises. Many of them, though viable in the long run, are endangered by a prolonged negative cash flow, tight lending by banks and shifting patterns of international demand and competitiveness. Public intervention (eg. through credit guarantees) to temporarily protect SMEs is justified in these circumstances.
La cura Volcker puo non bastare
by Ignazio Angeloni on 19 January 2010
Download: Italian
Category: OPINION PIECES AND COLUMNS
Topics: Financial markets and regulation, European and global governance
In this column published in the Italian Il Corriere della Sera, Visiting Scholar Ignazio Angeloni argues that the
'Volcker rule'(the recent proposal by the US administration to ban proprietary trading for comercial banks) is neither necessary nor sufficient to reduce systemic risks in the financial sector. Risks in recent years have mainly come from non-bank intermediaries (hedge funds like LTCM, investment banks, insurance companies). Pridential regulation should be as uniform as possible across types of intermediaries and jurisdictions.fileadmin/files/admin/publications/opinion_pieces_and_colums/2010/February/20100215_IA_Corriere.pdf
Last Year in Copenhagen
by Jean Pisani-Ferry on 11 January 2010
Category: OPINION PIECES AND COLUMNS
Topics: Climate change and energy, European and global governance
Director Jean Pisani-Ferry takes a look at the results of the Copenhagen climate change summit and its implication for global governance. He points out the economic challenges in the way of a future climate accord, examines the diverging reactions of the different state actors to the climate summit and discusses the failures of the United Nations in the process. This Op-ed was published in French daily Le Monde and Chinese business magazine Century Weekly (both 11 Jan).
EU Has Major Challenges to Confront
by Nicolas Véron on 06 January 2010
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Category: OPINION PIECES AND COLUMNS
Topics: European and global governance
In a column for the business daily the Australian Financial Review, Senior Fellow Nicolas Véron describes the successes and follies of the European Union in the aftermath of the crisis and warns of the many challenges that await the EU. These include a restructuring of the banking industry and the creation of cross-border co-ordination mechanisms; the establishment of a clear framework to address the possibility of sovereign default from member states; and a closing of the gaps in the EU institutions' democratic accountability in order to make fiscal federalism a possibility.
Economic Policy 61
by , , , André Sapir on 01 January 2010
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Category: EXTERNAL PUBLICATIONS
Topics: European and global governance, Research, innovation and growth, Trade, investment and competitiveness
The latest edition of Economic Policy, edited by Georges De Menil, Richard Portes and Hans-Werner Sinn, includes four papers that draw attention to pertinent policies related to governance of universities, the reforms and re-elections in OECD countries, the effects of employment protection legislation and financial market imperfections on investment and the drugs policy related to cannabis. The four papers were first presented as drafts at a panel meeting in the European Commission in Brussels in April 2009.
Bruegel Senior Fellow André Sapir along with Non-resident Scholar Philippe Aghion , Mathias Dewatripont, Caroline Hoxby and Andreu Mas-Colell make a comparitive analysis of governance and performance of universities between Europe and the US. The authors conclude that European universities can benefit from greater autonomy and accountability.