Past Event

The impact of the crisis on euro area neighbours

This workshop was organised jointly with the EBRD (European Bank for Reconstruction and Development). The euro area debt crisis spurred a vast debate on the nature of the problem and possible solutions, whilst far less attention has been devoted to analyzing the implications for those outside the euro area, whether EU members or candidates. The […]

Date: Nov 8 - Topic: Macroeconomic policy

This workshop was organised jointly with the EBRD (European Bank for Reconstruction and Development).

The euro area debt crisis spurred a vast debate on the nature of the problem and possible solutions, whilst far less attention has been devoted to analyzing the implications for those outside the euro area, whether EU members or candidates. The workshop discussed how the debt crisis in Europe has impacted on trade, finance and what the proposal for a European banking union implies for those that remain outside.

Programme

09.00-10.00: Session 1 – How has the euro area crisis impacted on trade and foreign direct investment in neighbouring countries?

Chair: André Sapir, Bruegel

How has the euro zone crisis affected trade and foreign direct investment outside the euro area and outside the EU? Through what channels? What can the experience of recent EU/non euro area members teach to acceding (Croatia) and candidate countries (Iceland, The former Yugoslav Republic of Macedonia, Montenegro, Serbia, Turkey)? How are trade relations going to look like in the future?

Speakers

  • Vedran Šošić, Vice-governor, Croatian National Bank
  • Michael Landesmann, Director of Research, wiiw
  • Discussant – Cagatay Bircan, EBRD

Q&A and roundtable discussion

10.00-10.15 Coffee break

10.15-11.15: Session 2 – How has financial turmoil in the euro area affected those outside?

Chair: Zsolt Darvas, Bruegel

How has financial turmoil in the euro area affected countries outside the euro zone and the EU? What happened to cross-border lending in non euro area/non EU countries and why? What prospects for cross-border financial integration?

Speakers

  • Gediminas Simkus, Director of Financial Stability Department in Economics and Financial Stability Business Area, Bank of Lithuania
  • Jeromin Zettelmeyer, Deputy Chief Economist and Director of Research, EBRD
  • Discussant – Bozidar Djelic, former Deputy Prime Minister of Serbia

Q&A and roundtable discussion

11.15-13.00: Session 3 – How will European plans for a banking union affect neighbours?

Chair: Jean Pisani-Ferry, Bruegel

How do European plans for a banking union affect outsiders? What policy initiatives may contribute to reducing negative externalities?

Speakers

  • Martin Spolc, DG MARKT, European Commission
  • Erik Berglöf, Chief Economist, EBRD
  • Cristian Popa, Deputy Governor, National Bank of Romania
  • Discussant – Péter Györkös, Ambassador at the Permanent Representation of Hungary to the EU

Q&A and roundtable discussion chaired by Guntram Wolff, Bruegel

13.00- Buffet Lunch

Practical information

  • Venue: Bruegel, Rue de la Charité 33, 1210 Bruxelles
  • Time: 8 November 2012, 9:00 – 13:00
  • Contact: [email protected]
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Upcoming Event

May - Jun
31-1
10:30

MICROPROD Final Event

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Speakers: Carlo Altomonte, Eric Bartelsman, Marta Bisztray, Peter Bøegh Nielsen, Italo Colantone, Maria Demertzis, Wolfhard Kaus, Javier Miranda, Steffen Müller, Hannu Piekkola, Verena Plümpe, Niclas Poitiers, Andrea Roventini, Gianluca Santoni, Valerie Smeets, Nicola Viegi and Markus Zimmermann Topic: Macroeconomic policy Location: Bruegel, Rue de la Charité 33, 1210 Brussels
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Podcast

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By: The Sound of Economics Topic: Macroeconomic policy Date: May 25, 2022
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Past Event

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What are the vulnerabilities and risks in the enterprise sector and how prepared are countries to handle a large-scale restructuring of businesses?

Speakers: Ceyla Pazarbasioglu and Guntram B. Wolff Topic: Macroeconomic policy Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: May 25, 2022
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Past Event

Past Event

[Cancelled] Shifting taxes in order to achieve green goals

[This event is cancelled until further notice] How could shifting the tax burden from labour to pollution and resources help the EU reach its climate goals?

Speakers: Niclas Poitiers and Femke Groothuis Topic: Green economy, Macroeconomic policy Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: May 12, 2022
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Past Event

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How are crises changing central bank doctrines?

How is monetary policy evolving in the face of recent crises? With central banks taking on new roles, how accountable are they to democratic institutions?

Speakers: Maria Demertzis, Benoît Coeuré, Pervenche Berès, Hans-Helmut Kotz and Athanasios Orphanides Topic: Macroeconomic policy Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: May 11, 2022
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Book/Special report

European governanceInclusive growth

Bruegel annual report 2021

The Bruegel annual report provides a broad overview of the organisation's work in the previous year.

By: Bruegel Topic: Banking and capital markets, Digital economy and innovation, European governance, Global economy and trade, Green economy, Inclusive growth, Macroeconomic policy Date: May 6, 2022
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Policy Contribution

European governance

Fiscal support and monetary vigilance: economic policy implications of the Russia-Ukraine war for the European Union

Policymakers must think coherently about the joint implications of their actions, from sanctions on Russia to subsidies and transfers to their own citizens, and avoid taking measures that contradict each other. This is what we try to do in this Policy Contribution, focusing on the macroeconomic aspects of relevance for Europe.

By: Olivier Blanchard and Jean Pisani-Ferry Topic: European governance, Macroeconomic policy Date: April 29, 2022
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Working Paper

The low productivity of European firms: how can policies enhance the allocation of resources?

A summary of the most important policy lessons from research undertaken in the MICROPROD project work package 4, related to the allocation of the factors of production, with a special focus on the weak dynamism of European small and medium-sized enterprises (SMEs).

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External Publication

What drives implementation of the European Union’s policy recommendations to its member countries?

Article published in the Journal of Economic Policy Reform.

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Working Paper

Measuring the intangible economy to address policy challenges

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By: Marie Le Mouel Topic: Macroeconomic policy Date: April 11, 2022
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Past Event

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Macroeconomic and financial stability in changing times: conversation with Andrew Bailey

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Speakers: Andrew Bailey and Guntram B. Wolff Topic: Macroeconomic policy Date: March 28, 2022
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Opinion

European governance

How to reconcile increased green public investment needs with fiscal consolidation

The EU’s ambitious emissions reduction targets will require a major increase in green investments. This column considers options for increasing public green investment when major consolidations are needed after the fiscal support provided during the pandemic. The authors make the case for a green golden rule allowing green investment to be funded by deficits that would not count in the fiscal rules. Concerns about ‘greenwashing’ could be addressed through a narrow definition of green investments and strong institutional scrutiny, while countries with debt sustainability concerns could initially rely only on NGEU for their green investment.

By: Zsolt Darvas and Guntram B. Wolff Topic: European governance, Green economy, Macroeconomic policy Date: March 8, 2022
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