A Roadmap for Strengthening International Collaboration in Research and Innovation under Horizon 2020. EU Center Singapore Background Brief No. 9, May 2013

This  background  brief  looks  into  the  new  research  and  innovation  strategy  introduced  by  the  European  Union  embodied in the Horizon 2020 funding programme. It focuses  on the  prospect  for  international  collaboration  in  Horizon  2020, and presents a roadmap for both European institutions  and  those  from  key  third  countries  to  get  ready  for  the  opportunities provided by this funding instrument to embark  on interesting research and innovation. The brief begins by  outlining the efforts by the EU to address issues of economic  competitiveness with a new growth strategy Europe 2020 in  response to the enormous challenges faced by Europe in the  midst of the debt  crisis. It looks at the introduction of the  Innovation Union  as  a  Europe 2020  initiative,  and  explains  how the  new  financial  instrument,  Horizon  2020,  may  be  used to support the primary goals   of more jobs, improved  lives,  better  society  and  the  global  competitiveness  of  Europe.  The  brief  also  outlines  the  major  differences  of  Horizon 2020 from the previous framework programmes, and  recommends close collaboration between the European and  the key third countries. The brief also proposes general and  priority‐specific  strategies  for  national  research  councils,  universities  and  research  institution  to  get  ready  to  participate in the Horizon 2020 programme.  

Strengthening the euro area. CHALLENGE EUROPE Issue 22. Challenges and new beginnings: Priorities for the EU's new leadership, September 2014

Since 2007, a series of acute crises have threatened the very existence of the euro area. The financial crisis which spilled into the currency union in 2007 was followed by an unexpectedly strong downturn of the real economy. As of 2010, the euro area was confronted with a severe sovereign debt and banking crisis. Despite these troublesome developments, the euro area has proven to have a considerable degree of resilience. In each phase, governance weaknesses were revealed – and national governments together with the EU institutions have designed an impressive series of policy responses in crisis management and institutional innovation. The euro area today is completed by a banking union with a Single Supervisory and a Single Resolution Mechanism. National budgetary and economic policies are more closely overseen and coordinated. With the European Stability Mechanism, the euro area now has a permanent tool in place to manage sovereign liquidity crises and instabilities in the banking sector. Most importantly, the euro area's only true federal institution, the European Central Bank (ECB), has become its most effective crisis manager: with the announcement of its Outright Monetary Transactions (OMT) programme, the ECB finally managed to calm the self fulfilling crisis in 2012. Meanwhile, the announcement of credit easing and quasi-quantitative easing in September 2014 is a move towards reducing financial fragmentation and countering deflation. The euro area in 2014 is hence a lot different from the one in 2007. And yet, further challenges need to be overcome. Prevailing stagnation, fragmentation and problems of legitimacy require a rethink of policies and further governance reform.