116 resultados para 36-328
Resumo:
The recent crises have shown that the eurozone countries’ government debt is not immune to default. Applying a large-exposure requirement also to eurozone government debt would be a logical measure towards breaking the bank-government doom loop, given the low probability and high loss-given government default. But what would be the impact of the application of the large-exposure requirement on the banking sector as well as on government funding? This CEPS Policy Brief presents the results of a simulation exercise performed for 109 systemic banks in the eurozone, showing that their eurozone government debt portfolios would have to decrease by 3.2% or €63 billion, if a 50% of own-funds cap would be applied on large exposures. The eurozone central banks’ demand for sovereign bonds under the extended asset purchase programme further creates momentum to start gradually implementing the restriction.
Resumo:
‘Leading candidates’ competed for the European Commission Presidency in the campaign for the European elections in May 2014. This element of political contestation poses a challenge to the Union’s institutional design. This article investigates to what extent competing ‘leading candidates’ enhances the process of deliberation and party contestation and thus strengthen the role of European Parliament (EP) party groups. In light of the example of the ‘Progressive Alliance of Socialists and Democrats’ and its ‘leading candidate’, Martin Schulz, it is shown that the election campaign did strive to be EU-wide. However, Schulz’s influence on internal party cohesion and coalition formation remained limited. Therefore the influence of an elected ‘leading candidate’ is regarded as a symbolic act, which could deepen the relationship between the EP and the Commission as well as strengthen the democratic and political standing of both institutions vis-à-vis the European Council.
