125 resultados para September 11 Terrorist Attacks, 2001 - Influence


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Even before the recent terrorist attacks in Ankara, Turkey was a country in crisis. In this EPIN Commentary Umut Uzer attempts to shed light on the political turbulence and increasing polarisation in the country, and makes a plea for a return to consensus-building ahead of the fresh round of elections in November. The author also calls upon the EU to offer incentives to Turkey to continue on the path of EU membership, but if membership is out of the question, then other platforms for cooperation should be negotiated. The EU should speak in a candid manner and make clear what kind of future relationship it envisages for Turkey, because now, more than ever, cooperation is in both their interests.

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Against the background of Europe's refugee crisis, not to mention last month's terrorist attacks in Paris, Daniel Gros acknowledges in this Commentary that the core principle of a "Europe without borders" has come under serious attack. He exhorts member states to realise that they can be more secure without sacrificing liberty if they create a common institution to guard the external borders and reinforce the existing framework for internal security.

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The summer of 2014 saw an explosion of violence in the Middle East: Israel delivered a sledgehammer blow against Gaza, Lebanon was again the scene of terrorist onslaught, and the relentless war in Syria pushed the numbers of casualties and displaced people to record highs. In terms of geopolitical change, however, the advance of the ‘Islamic State’ and the emergence of a de facto independent Iraqi Kurdistan are the most important recent developments in the region. Common to all these conflicts are the levels of barbarity involved in this struggle for a place in the region’s security order.

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Cross-border banking is currently not stable in Europe. Cross-border banks need a European safety net. Moreover, a truly integrated European level banking system may help to break the diabolical loop between the solvency of the domestic banking system and the fiscal standing of the national sovereign. This policy paper first sketches the building blocks of a banking union. Importantly, a new European Deposit Insurance and Resolution Authority (EDIRA) should start simultaneously with the ECB assuming supervisory powers. A combination of European supervision and local resolution cannot work because it is not ‘incentive compatible’. Next, this paper proposes a transition period to gradually phase in the European deposit insurance coverage. Finally, we calculate that a European Deposit Insurance Fund would amount to about €30-50 billion for the 75 euro area banks that were subject to the EBA stress tests. This Fund could be created over a period of time through risk-based deposit insurance premiums levied on these banks. Once up and running, the Fund would then turn into a European Deposit Insurance and Resolution Fund to also deal with the resolution of one or more of these European banks.