235 resultados para budgets
Resumo:
H. Onno Ruding describes the negotiations on the EU budget, which will resume in 2013 following their collapse in late November, as more awkward than usual. In this new CEPS Commentary, he advises EU leaders to make the instrument more forward-looking in promoting economic growth in Europe and less focused on maintaining legacy entitlements of past years. In his view, this means more spending on research, innovation, education and infrastructure and also requires further reductions in the still-dominant agricultural subsidies as well as regional and structural funds.
Resumo:
n this new CEPS commentary, CEPS Director Daniel Gros takes a closer look at the US experience to point out that the federal budget provides much less insurance against state specific shocks than widely assumed, while the US Banking Union act as a very powerful shock absorber. Accordingly, he argues that the euros long-term stability depends far more on completing plans for a European banking union than on the introduction of a fiscal capacity for the eurozone.
Resumo:
[Introduction.] Necessary reforms towards a deepened and increased European shaped economic, financial and budgetary policy, paraphrased with the term fiscal union, could possibly reach constitutional limits. In its EFSF judgment1, the German Constitutional Court, following the Lisbon judgment in which certain government tasks were determined as being part of the constitutional identity2, connected the budget right of the parliament via the principle of democracy to the eternity clause of Art. 79 para 3 Basic Law. A transfer of essential parts of the budget right of the German Bundestag, which would be in conflict with the German constitution, is said to exist when the determination of the nature and amount of the tax affecting the citizens is largely regulated on the supranational level and thereby deprived of the Bundestags right to disposition. A reform of the Economic and Monetary Union that touches the core of the budget right can, according to the German Federal Court, with regard to Art. 79 (3) of the Basic Law only be realized by way of Art. 146 of the Basic Law, thus with a new constitution given by the people that replaces the Basic Law.3
Resumo:
Effectively addressing the issue of duplication in Europes defence systems will require a considerable amount of political will and, more importantly, a far-sighted vision of the way to go. Difficult choices will have to be made, and EU member states will have to invest in a complex exercise of coordination of defence and industrial policies and planning. However, the efficient management of EU defence budgets and the maintenance of a viable industrial base demand such efforts. After all, what is at stake is the EUs ability to guarantee its own security. The author makes a series of proposals to address this issue ahead of the European Council of December 2013, which will be devoted to matters of security and defence.
Resumo:
In offering his diagnosis of Europes ailing banking sector, Daniel Gros finds that it is undercapitalised, too large and populated by too many players without a viable long-term business model. In his view, it is the combination of the last two factors that is the most worrying and he warns that any major problem could overburden public budgets, making the sector, with total liabilities over 250% of GDP, possibly too big to be saved.
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No abstract.
Resumo:
To ward off the threat of a worldwide depression that loomed at the end of the 2000s, governments opted to run up substantial fiscal deficits. In doing so, they sowed the seeds of the sovereign debt crisis. Saddled with often high debt burdens and modest growth prospects, developed countries governments must now rebalance their budgets. Doing so too rapidly, however, will choke growth. Faced with this dilemma, Japan and the United States have pursued growth policies while the euro area members are quickly trying to rebalance their budgets. This book explores the respective risks associated with these two strategies. It further investigates the consequences for the international monetary and financial system of developing countries public debts ceasing to be risk-free.
Resumo:
The study presents an overview of the impact of the main investment tools of the EU budget. The focus is on the increasing role of the financial instruments, which are fundamentally changing the budgets nature and reach. Through these instruments, the EU can invest more efficiently in more areas and mobilise a multiple of funds. The EU budget has the potential to influence the European economy much more than its modest size in terms of GDP may suggest.
Resumo:
The European Unions leadership spent the last five years fighting an acute and existential crisis. The next five years, under your leadership, will be no less difficult. You will have to tackle difficult economic and institutional questions while being alert to the possibility of a new crisis. You face three central challenges: (1) The feeble economic situation prevents job creation and hobbles attempts to reduce public and private debt; (2) EU institutions and the EU budget need reform and you will have to deal with pressing external matters, including neighbourhood policy and the EUs position in the world; (3) You will have to prepare and face up to the need for treaty change to put monetary union on a more stable footing, to review the EUs competences and to re-adjust the relationship between the euro area and the EU, and the United Kingdom in particular.
Resumo:
The study presents an overview of the impact of the main investment tools of the EU budget. The focus is on the increasing role of the financial instruments, which are fundamentally changing the budgets nature and reach. Through these instruments, the EU can invest more efficiently in more areas and mobilise a multiple of funds. The EU budget has the potential to influence the European economy much more than its modest size in terms of GDP may suggest.
