Banking Union in the Eurozone and the European Union. CEPS Commentary, 12 June 2012

In this new CEPS Commentary, Jacopo Carmassi, Carmine Di Noia and Stefano Micossi present a rationale and detailed outline for the creation of a banking union in Europe. They argue that it is essential to clearly distinguish between what is needed to address a ‘systemic’ confidence crisis hitting the banking system – which is mainly or solely a eurozone problem – and ‘fair weather’ arrangements to prevent individual bank crises and, when they occur, to manage them in an orderly fashion so as to minimise systemic spillovers and the cost to taxpayers, which is of concern for the entire European Union.

Preparing for a post-Assad Syria: What role for the European Union? CEPS Commentary, 2 August 2012

In this CEPS Commentary, Steven Blockmans notes that a prolonged period of instability lies ahead for Syria, with an on-going risk of spill-over effects affecting the entire region. The author argues that the EU’s plans for a post-Assad Syria should extend beyond the half-hearted responses to the monumental changes that have ripped through other parts of the Arab world. In recognition of the geostrategic shifts in the Middle East and the Gulf, and pursuant to the obligation imposed upon it by the Lisbon Treaty, the EU should plan for the creation of a regional space of shared security. Such a plan would fit well into the current efforts to revamp the European Security Strategy.