Publications

The pricing of sovereign credit risk is a necessary component of the financial architecture of the European Monetary Union. However, unnecessarily high and volatile risk premia on government bonds are...chevron_right

This policy brief aims to contribute to Council deliberations first by clarifying the proper role of Union financial assistance to member states confronted with sovereign debt crises, which should in ...chevron_right

This study assesses the present state of the EU-Georgia discussions on a free trade agreement - to say ‘negotiations’ would be premature since the European Commission has insisted on a hugely demandin...chevron_right

This fully revised, second edition of the Ever-Changing Union provides a concise overview of the EU’s history, institutional structures and decision-making processes. It looks at the fundamental princ...chevron_right

The recent economic and financial crises have shown the weakness of EU economic governance. A process of strengthening macroeconomic and fiscal surveillance started in the course of 2010; the European...chevron_right

The recent wave of consolidation among exchanges has shaken the global financial community. For the first time since the beginning of the financial crisis, the industry has been able to steal the lime...chevron_right

While acknowledging that Portugal is far from being in the same dire straits as Greece in terms of its levels of public debt and deficit, Daniel Gros points out in this commentary that excess private ...chevron_right

Various forms of common 'European bonds', or more precisely eurobonds, have been proposed recently as a way out of the current euro crisis, with proponents stressing the promise of lower borrowing co...chevron_right

On 1 January 2011, Hungary, the third member of the European Union to join the club in 2004, took over the presidency of the Council of the European Union. This represents the first presidency of a ne...chevron_right

The EU resembles a group of highly interdependent companies with large cross holdings of equity stakes. However, the formal structure of the group is very light. There is no central authority that can...chevron_right

This paper provides a preliminary assessment of the EU's energy policy under the Treaty of Lisbon rules. It reviews the major and minor effects of the rules on energy, and evaluates how these are perc...chevron_right

With the Commission’s consultation period on the Single Market Act (European Commission, 2010) nearing its end, it is high time for the EU to get its act together. Priority should immediately be resto...chevron_right

The survey aims to investigate the actual implementation of the Markets in Financial Instruments Directive (MiFID), two years after it came into force. A general finding of this survey is that MiFID r...chevron_right

For decades Tunisia projected an image of stability to the world and distinguished itself from other Arab countries for its macroeconomic achievements and progress in the areas of economic growth, hea...chevron_right

For the second time in a decade, central banks around the world have responded to the collapse of an asset bubble by moving aggressively to ease monetary policy, a tactic explicitly justified by the n...chevron_right