Download or read book Fourth Report of Session 2012 13 written by Great Britain. Parliament. House of Commons. European Scrutiny Committee and published by The Stationery Office. This book was released on 2012 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Constitutional Boundaries of European Fiscal Federalism written by Brady Gordon and published by Cambridge University Press. This book was released on 2022-04-14 with total page 565 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book bridges the study of European constitutionalism with the study of 'fiscal federalism' – the subfield of public economics concerned with structuring public finances between different levels of government in federal states. On one axis, this book delves into European Union and Member State constitutional law from all EU Member States in order to investigate and identify the existence of permanent constitutional boundaries that will impinge upon the selection of proposed models for EU fiscal federalism. On the second axis, this book engages the study of fiscal federalism in order to determine which institutional configurations known to that field remain legally and economically implementable within those boundaries. It provides a far-reaching investigation of which models of fiscal federalism are compatible with the constitutional boundaries of the European legal order.

Download or read book The Incomplete Currency written by Marcello Minenna and published by John Wiley & Sons. This book was released on 2016-04-04 with total page 832 pages. Available in PDF, EPUB and Kindle. Book excerpt: A fact-based treatise on the Eurozone crisis, with analysis of possible solutions The Incomplete Currency is the only technical — yet accessible — analysis of the current Eurozone crisis from a global perspective. The discussion begins by explaining how the Euro's architecture, the relationship between finance and the real economy, and the functioning of the Eurosystem in general are all at the root of the current crisis, and then explores possible solutions rooted in fact, not theory. All topics are analysed and illustrated, making extensive use of examples, tables, and graphics, and the ideas presented are supported by data sets and their statistical elaborations throughout the book. An extensive digital component includes numerical simulations of public debt dynamics for different Eurozone countries, evaluations of the sustainability of programmes like the Fiscal Compact, and stress tests on the ability of institutions like the ESM to cope with major liquidity crises, and the spreadsheets used to calculate data in the book is provided for readers to access for themselves. The survival of the European monetary union has been questioned due to the accumulation of structural imbalances and the negative effects of the global financial crisis. This book lays out the full extent of the problem, explains what caused it, and provides possible solutions backed by extensive data. Dig down to the root of the Eurozone crisis Learn why austerity doesn't fix anything Understand how the Euro has changed economies Consider possible strategies for recovery In a macroeconomic context where the monetary policy is the prerogative of the European Central Bank and fiscal policy, hopeless austerity works against the economic recovery of the Eurozone countries. A positive attitude is difficult, but necessary. The Incomplete Currency is an insightful, important resource that guides readers toward real solutions.

Download or read book OECD Economic Surveys Euro Area 2014 written by OECD and published by OECD Publishing. This book was released on 2014-04-03 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2014 edition of OECD's Economic Survey of the Euro Area examines recent economic developments, prospects and policies. A special chapter covers making the Euro Area function better: the banking union and fiscal framework.

Download or read book Safeguarding the Euro in Times of Crisis written by and published by . This book was released on 2019 with total page 419 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book tells the inside story of those who played key roles in setting up the organisations and combatting the crisis. In exclusive interviews, global financial leaders and ESM insiders provide a rich stock of perspectives and anecdotes that bring to life the urgency of the crisis as well as the innovative solutions found to resolve it. The European Stability Mechanism and its temporary predecessor the EFSF provided billions of euros in loans to five hard-hit euro area countries during the European financial and sovereign debt crisis of the early 2000s, helping to safeguard the stability of those countries and the euro area as a whole. Initially, the crisis-torn euro area was ill-equipped institutionally, but the rapid establishment of the firewalls, the assistance programmes, deep‐seated country reforms, the strengthening of European institutions, and extraordinary European Central Bank measures shielded Europe from a euro area break-up. With the EFSF/ESM set-up, its managers aspired to create a new, more entrepreneurial international financial institution, one that is agile enough to respond quickly to new challenges, while still ensuring the strict governance befitting an organisation pursuing a public mission. The euro area has emerged from near disaster in more robust shape. As Europe strives to further strengthen its architecture in preparation for any possible future crises, it is important to reflect upon how the euro area reinvigorated its fortunes and draw the relevant lessons for future crisis management in Europe and beyond.

Download or read book Fiscal Consolidation in the Euro Crisis written by Kai Guthmann and published by Springer Nature. This book was released on 2020-09-12 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book sheds new light on if and why, between 2009 and 2015, European governments succeeded or failed in initiating and actually realizing some of the farthest-reaching austerity plans in modern history. The author analyzes the economic and political context and the underlying causes of austerity and economic adjustment packages during the Euro crisis. In doing so, he shows that austerity has its roots in an institutional mismatch between capitalist diversity in the Eurozone on the one hand, and an ill-conceived common economic regime on the other. In this context, austerity trumped politics, and even democracy itself. The book will appeal to scholars of political science and comparative political economy, as well as governmental policymakers and practitioners in the finance sector.

Download or read book Ireland written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-11-04 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ireland’s major property bubble burst at the same time as the global financial crisis erupted, plunging the country into a severe recession in 2008–10. Public debt climbed rapidly as revenues collapsed and as banks’ rising loan losses increasingly required public support. Following the Greek crisis in spring 2010 and emerging tensions in the euro area, the last act in the process saw the operation of the “sovereign-bank loop”—a vicious cycle where uncertainty about banks’ health fed into doubts around the sustainability of public debt, which only added to fears about the banks. The government lost access to market financing at manageable interest rates, and Ireland entered into a three-year program supported by €67.5 billion of financial assistance from the European Union (EU) and IMF in late 2010. Ireland’s program therefore had three main goals: restoring the viability of the banking system; putting the public finances on a sustainable path and returning to market funding; and restarting economic recovery including by improving growth potential. A large bank recapitalization in early 2011 helped stabilize deposits and other bank funding. The government’s access to market financing was progressively regained from mid 2012, enabling Ireland to exit the program at the end of 2013 and rely fully on market financing at highly favorable terms. The first signs of recovery were seen in strong job creation starting in the second half of 2012, and Ireland’s recent economic figures have surpassed even the most optimistic expectations, with growth of about 5 percent in 2014. Seeking to draw lessons for Ireland, the EU, and the IMF, as well as other countries facing similar challenges, the Central Bank of Ireland (CBI), the Centre for Economic Policy and Research (CEPR), and the IMF organized a conference titled “Ireland—Lessons from Its Recovery from the Bank-Sovereign Loop.” Held on January 19, 2015, at the historic Dublin Castle, it brought together Irish government representatives, European officials, academics, journalists, private sector representatives, and other stakeholders, as well as the IMF’s Managing Director. The conference discussions were anchored by three papers by leading international academics and moderated by journalists familiar with the issues. The event concluded with a high-level panel discussion by senior policymakers.

Download or read book Crisis in the West and the East written by István Benczes (Ed.) and published by BoD – Books on Demand. This book was released on 2014-06-18 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the end of the 1990s and the start of the new millennium, globalisation was the main buzzword in the social sciences; nowadays, however, this role has been taken over by governance. So much so in fact that the term has earned considerable credit outside of the academia, and has become the topic of heated discussions in public debates as well. Globalisation and governance are, nevertheless, not independent from each other. It is a pity that a full-blown crisis, such as the global financial and economic crisis of 2007-2008, was needed to make it painfully evident that the success of globalisation and the design of good governance mutually presuppose one another; one cannot exist without the other. As globalization exists simultaneously on the global, regional and national levels, the same can be said of governance as well. Consequently, this volume focuses on each of these highly interdependent levels and gives a critical account of economic globalization and governance. István Benczes is an Associate Professor at the Department of World Economy, Corvinus University of Budapest (formerly known as the Budapest University of Economic Sciences). Currently, he is a Fulbright Professor at Indiana University, Bloomington, US. He earned his PhD in Political Economy at Central European University, Budapest. His main research interests include the political economy of European economic integration and economic transformation of Central and Eastern Europe. He has been teaching International Political Economy, International Economics, European Economic Governance and Development Economics for more than a decade. His monograph on Trimming the Sails: The Comparative Political Economy of Expansionary Fiscal Consolidations was published by CEU Press.

Download or read book Paying the Polluter written by Frans H. Oosterhuis and published by Edward Elgar Publishing. This book was released on 2014-05-30 with total page 365 pages. Available in PDF, EPUB and Kindle. Book excerpt: Demonstrating how subsidy reform may contribute to a better environment, support fiscal reform and address social and economic objectives, this authoritative book will appeal to policy makers and their advisors all over the world. It will also be a use

Download or read book Governments and Promised Fiscal Consolidations written by Mr.Sanjeev Gupta and published by International Monetary Fund. This book was released on 2017-02-23 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyses the causes and consequences of fiscal consolidation promise gaps, defined as the distance between planned fiscal adjustments and actual consolidations. Using 74 consolidation episodes derived from the narrative approach in 17 advanced economies during 1978 – 2015, the paper shows that promise gaps were sizeable (about 0.3 percent of GDP per year, or 1.1 percent of GDP during an average fiscal adjustment episode). Both economic and political factors explain the gaps: for example, greater electoral proximity, stronger political cohesion and higher accountability were all associated with smaller promise gaps. Finally, governments which delivered on their fiscal consolidation plans were rewarded by financial markets and not penalized by voters.

Download or read book The Routledge Handbook of German Politics Culture written by Sarah Colvin and published by Routledge. This book was released on 2014-11-27 with total page 627 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Routledge Handbook of German Politics and Culture offers a wide-ranging and authoritative account of Germany in the 21st century. It gathers the expertise of internationally leading scholars of German culture, politics, and society to explore and explain historical pathways to contemporary Germany the current ‘Berlin Republic’ society and diversity Germany and Europe Germany and the world. This is an essential resource for students, researchers, and all those looking to understand contemporary German politics and culture.

Download or read book Budgeting Practices and Procedures in OECD Countries written by OECD and published by OECD Publishing. This book was released on 2014-05-12 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides detailed information on budgeting practices in OECD countries, from formulation, to approval, execution and reporting.

Download or read book Parliaments in EU Economic Governance written by Diane Fromage and published by Routledge. This book was released on 2020-05-21 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book considers national parliaments’ and the European Parliament’s role in European Union (EU) economic governance. It examines the recent strengthening of parliamentary involvement, limitations to improvements, and where and how democratic deficits still exist. It also provides the basis for some reflections concerning possible future evolutions and improvements to EU economic governance. The EU’s economic governance framework has been significantly strengthened as a response to the 2008 economic and financial crisis, and the establishment of a new Banking Union in 2013. It is thus key to determine whether these additional transfers of powers to the EU level have been accompanied by an equivalent empowerment of the national and European legislatures, allowing them to ensure adequate democratic legitimation. The chapters comprehensively re-examine the democratic (throughput) legitimacy of, and within, the EU’s economic governance by focusing on national parliaments, on the European Parliament, and on mechanisms for interparliamentary cooperation. This book was originally published as a special issue of the Journal of European Integration.

Download or read book Parliamentary Oversight of the Executives written by Elena Griglio and published by Bloomsbury Publishing. This book was released on 2020-10-01 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oversight of executives has always been a key function of parliaments and one that is central to developing the relationship between the executive and legislative branches of government. However, in reality governments are taking a more pronounced role in controlling legislation, diluting the influence of parliament. This book plots this trend in parliaments across Europe, to illustrate points of convergence and divergence. In so doing, it suggest tools and methods that parliaments can develop to bolster their crucial oversight role.

Download or read book The Role of Law and Regulation in Sustaining Financial Markets written by Niels Philipsen and published by Routledge. This book was released on 2014-11-13 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the role of law and regulation in sustaining financial markets in both developed and developing countries, particularly the European Union, United States and China. The central argument of this book is that law matters for the operation of financial markets, which, in turn, significantly influences the performance of firms, industries, and economies. The Role of Law and Regulation in Sustaining Financial Markets is divided into four parts. Part one addresses the connection between law, financial development, and economic growth. Part two deals with the role of financial regulation, which can be used to correct market failures, such as negative externalities, information asymmetries, and monopolies. Part three focuses on the design, functioning, and performance of different financial instruments. Part four examines the topic of Corporate Social Responsibility. This book contributes to the ‘law and finance’ literature by studying certain conventional issues, such as the relationship between finance and economic growth, and the effects of regulatory quality on financial development, from new perspectives and/or with new evidence, data, and cases. It also explores novel topics, such as project finance contracts, insurance and climate change, the shadow banking system, that have been overlooked in current literature. This book is meaningful not only for the EU and the US, which have suffered considerably from the financial crisis of 2008, but also for China, which is struggling to build a sound institutional infrastructure to govern its increasingly complicated financial system. By comparing the regulatory philosophies and practices of the EU, the US and China, this book will help the reader to understand the diverse nature of the global ‘law and finance’ nexus and avoid succumbing to the myth of "one size fits all".

Download or read book The Inverting Pyramid written by Anita M. Schwarz and published by World Bank Publications. This book was released on 2014-02-21 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Europe’s pension systems –among the most celebrated features of its social welfare model— face tremendous challenges. With only 11 percent of the world’s population, Europe spends about 60 percent of global outlays on social protection, largely in pensions. In many countries, pension rules have encouraged people to retire sooner, while enjoying longer lives. Payroll taxes on a continuously expanding contributory base have financed these benefits. This model of pension provision is now being severely tested as pension systems reach maturity, while the population is aging and the labor force is starting to shrink. Measures to enable a continued tradition of providing old age security will include • raising retirement ages such that pensions are provided in the last 15 years of life, when work capacity traditionally diminishes • encouraging immigration to help fill the declining work force • rationalizing pension spending, putting priority on preventing old age poverty, and • encouraging savings to help provide the more comfortable retirement that individuals have come to expect. Some measures may be more appropriate in particular countries than others, yet undertaking all of them will likely require less drastic changes in any one of them. The specific choices will need to be discussed and agreed among each country’s own population, and be accompanied by enabling changes in pension policy, tax policy, financial markets policy, and labor policy. The fundamental issue is that, with these changes, the important achievements of European social policy can withstand the demographic onslaught and continue to provide old age security for generations to come.

Download or read book OECD Multi level Governance Studies Making Decentralisation Work in Chile Towards Stronger Municipalities written by OECD and published by OECD Publishing. This book was released on 2017-09-19 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report provides a comprehensive analysis of the challenges confronting Chile’s centralised growth model and recommendations towards developing a more integrated territorial approach.