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With rising tensions surrounding the multilateral and liberal trading order in recent years, and declining public support for globalisation, the coronavirus pandemic has hit the world economy hard. In the short term, the efforts of the European Union (EU) and its Member States, as well as many other jurisdictions, are focused on supporting a sustained and inclusive economic recovery and on protecting businesses, jobs and livelihoods. At the same time, policy-makers in Europe should seek to address ...

In advance of the decision of the European Central Bank (ECB), expected on 8 December 2016, regarding the Asset Purchase Programme (APP, often referred as Quantitative Easing – QE) this note provides an insight to possible policy options for the ECB. It also looks at the ECB’s options to address the scarcity of eligible assets; if not addressed, scarcity of eligible assets could put at risk the proper functioning of the APP.

The European Council Oversight Unit within the European Parliamentary Research Service (EPRS) has undertaken a detailed analysis that seeks to assess how far participating EU Member States have met their commitments within the framework of the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union (TSCG). This intergovernmental treaty was agreed and signed by 25 Heads of State or Government in early 2012 and entered into force on 1 January 2013.  As part of a reformed ...

This ‘Cost of Non-Europe Report’ examines the robustness of the Banking Union framework under various stress scenarios and identifies the cost of the lack of further European action in this field. The study suggests that the potential gains from a deepened Economic and Monetary Union would be substantial, should a new financial and/or sovereign crisis materialise. It comes to the conclusion that the currently proposed regulatory framework for Banking Union is not sufficient in terms of reserves and ...

Seventh edition. The European Council's role - to 'provide the Union with the necessary impetus for its development' and to define its 'general political directions and priorities' - has developed rapidly over the past six years. Since June 2014, the European Council Oversight Unit within the European Parliamentary Research Service (EPRS), the European Parliament's in-house research service and think tank, has been monitoring and analysing the European Council’s delivery of the various commitments ...

The European Council of 17-18 March 2016 will discuss further steps to address the migration crisis, focusing on the follow-up to the 7 March meeting of the EU Heads of State or Government with Turkey and on reforming the EU's existing framework for a common asylum policy. EU leaders will also discuss the priorities for the 2016 European Semester and endorse the 2016 Annual Growth Survey.

The European Council and crisis management

In-Depth Analysis 11-02-2016

Since it became an institution in December 2009, the European Council has not only had to fulfil its core mandate as defined by the EU Treaties, but in addition has had to engage in crisis management on numerous occasions. Europe was (and is still) facing crises of a very different nature; ranging from the sovereign debt crisis to foreign policy crises – such as in Ukraine and Libya – and the on-going migration crisis. This in-depth analysis by the European Council Oversight Unit of the European ...

The first permanent European Council President, Herman Van Rompuy, considered the June 2012 meeting to be 'the most important European Council' of his five-year term. At that meeting, euro-area leaders committed themselves to launching what is the most ambitious EU project since the introduction of the single currency – the Banking Union. The European Council not only provided the impetus to establish a Banking Union but EU leaders have also regularly monitored the progress being made. In the coming ...

Sixth edition. The European Council's role - to 'provide the Union with the necessary impetus for its development' and to define its 'general political directions and priorities' - has developed rapidly over the past five years. Since June 2014, the European Council Oversight Unit within the European Parliamentary Research Service (EPRS), the EP's in-house research service and think tank, has been monitoring and analysing the delivery of the European Council on the various commitments made in ...

This Study evaluates the European Added value of the recommendation in the draft report of the European Parliament on bringing transparency, coordination and convergence to corporation tax policies in the Union. This study finds that the single most effective contribution to mitigating aggressive tax planning strategies and therefore lost revenues to Member States, which are estimated to be in the region of 50-70 billion euro per annum to 160-190 billion euro per annum on an assumption of no base ...