Crimean Tatars after Russia's annexation of the Crimean Peninsula. OSW Commentary No. 141, 30.06.2014

After Russia’s annexation of Crimea, Crimean Tatars face the necessity of working out a modus vivendi to cope with the difficult situation which now confronts them. On the one hand, the desire to remain in their homeland, which they regained after exile in Soviet times, is an imperative encouraging them to accept the status quo, while on the other, the fear of Russia and the strong relations of Crimean Tatar elites with Kyiv would favour opposing the present state of affairs. Another fact pointing in favour of an agreement with Moscow is that Kyiv has not attempted to defend Crimea and has not been active in demanding its return to Ukraine, which has undermined Kyiv’s authority in the eyes of the Tatars. Therefore, the leaders of the Mejlis of Crimean Tatars (the national self-government) act carefully, trying to avoid actions which could be seen as provocative and thus liable to incite retribution. It could be expected that this course of action will continue, although it faces ever greater difficulties in the context of the Russian authorities’ adoption of a strongly anti-Tatar policy, which is likely to evoke more radical attitudes among the Crimean Tatars.

The Evolving Integration in East Asia - Too many reservations? CEPS Essay No. 5, 29 April 2013

East Asian economic integration is less well known in Europe than is desirable in the EU’s own enlightened self-interest. It is also badly understood, not least because a range of ‘soft’ cultural, historical and political aspects are insufficiently appreciated in Europe. This CEPS Essay offers a deeper personal reflection on the emergence and development of East Asian economic cooperation and market-driven integration. It attempts to address some of the lingering reservations on both sides and to render the reservations in East Asia more intelligible to Europeans.

The altar and the throne alliance. The Russian Orthodox Church vs. the government in Russia. OSW STUDIES 54, 2016-01-04

The Russian Orthodox Church Moscow Patriarchate (ROC), the largest religious community in Russia, plays an essential role in the process of the cultural and national self-identification of the Russian people. Being a socio-political institution with a centuries-long history, it possesses great symbolic capital and enjoys public respect, which has been used for political purposes. Since Vladimir Putin regained the presidency in 2012, in order to strengthen the political regime in Russia the Kremlin has begun to extensively draw upon conservative ideology and promote the traditional moral and social values which the Church is viewed as the guardian of. This has resulted in establishing closer relations between the secular government and the ROC, as well as in a greater engagement of ROC hierarchs and organisations in domestic and foreign policy issues. This situation exposes the ROC to criticism for being excessively involved in politics, and in the longer term, to the risks linked to potential destabilisation of the governmental system in Russia.

The distribution of debt across euro area countries : The role of individual characteristics, institutions and credit conditions. National Bank of Belgium Working Paper No. 252, December 2013

The aim of this paper is twofold. First, we present an up-to-date assessment of the differences across euro area countries in the distributions of various measures of debt conditional on household characteristics. We consider three different outcomes: the probability of holding debt, the amount of debt held and, in the case of secured debt, the interest rate paid on the main mortgage. Second, we examine the role of legal and economic institutions in accounting for these differences. We use data from the first wave of a new survey of household finances, the Household Finance and Consumption Survey, to achieve these aims. We find that the patterns of secured and unsecured debt outcomes vary markedly across countries. Among all the institutions considered, the length of asset repossession periods best accounts for the features of the distribution of secured debt. In countries with longer repossession periods, the fraction of people who borrow is smaller, the youngest group of households borrow lower amounts (conditional on borrowing), and the mortgage interest rates paid by low-income households are higher. Regulatory loan-to-value ratios, the taxation of mortgages and the prevalence of interest-only or fixed-rate mortgages deliver less robust results.

Legitimising EU Policymaking: What Role for National Parliaments? EPC Discussion Paper, 28 January 2014

The ‘euro crisis’ has sparked a renewed interest in how national parliaments can help to improve the democratic nature of European decision making. According to various treaties, assemblies in the Member States are now guaranteed a full spectrum of rights including access to information, participation and the ability to object to EU legislation. The authors of this Discussion Paper argue that there is still room to refine and promote a more responsible use of existing instruments. Moreover, the possibility of adding new mechanisms to the available toolkit is part of the discussion on the topic but the authors warn that any proposals must be carefully considered on a case-by-case basis, especially in the context of the European economic governance reform process. Ultimately, according to the authors, the most straightforward and effective way for national parliaments to strengthen their direct involvement in EU policy formulation is to focus on building capacity to perform their two key domestic responsibilities: to hold their own governments to account, also on EU affairs, and to maintain the link with voters, including by communicating and debating ‘Europe’ at ‘home’.

The Financial Crisis and the Future of the Eurozone. Bruges European Economic Policy (BEEP) Briefing 21/2010

The government debt crisis, erupted in the Eurozone in 2009, nearly led to the collapse of European monetary union. Now that this has been averted, the question is what should be done to make the Eurozone sustainable in the long run. The survival of the Eurozone hinges on the capacity of its leaders to improve the eurozone's governance. With the exception of Greece, the root cause of the government debt crisis has little to do with the poor performance of the SGP, rather, with unsustainable debt accumulation by private actors. Also, the method of convergence implicit in the SGP has not worked well – macroeconomic divergences have stubbornly remained for nearly a decade and several countries experienced boom and bust dynamics. Although strong declines in real interest rates may explain part of the story (but e.g. Italy did not experience boom & bust), self-fulfilling waves of optimism and pessimism which might be called 'animal spirits' and are of mainly national origin, seem a good candidate for explanation. These national animal spirits endogenously trigger credit expansion and contraction. It follows that (national) movements of credit ought to be under much firmer control and this is up to the monetary authorities, including the ECB. Critical recommendations for better governance of the Eurozone should therefore combine credible measures to maintain fiscal discipline over the medium term with such instruments as minimum reserve requirements to control the growth of bank credit as well as minimum reserve requirements in different national banking systems. Finally, the idea of adding more sanctions to the SGP may be ill-conceived since, in future, it might pre-empt national governments to come to the rescue of banks (under credible threats of contagion) and/or prevent a downward spiral in economic activity.

Comparing fiscal multipliers across models and countries in Europe. National Bank of Belgium Working Paper No. 278, March 2015

This paper employs fifteen dynamic macroeconomic models maintained within the European System of Central Banks to assess the size of fiscal multipliers in European countries. Using a set of common simulations, we consider transitory and permanent shocks to government expenditures and different taxes. We investigate how the baseline multipliers change when monetary policy is transitorily constrained by the zero nominal interest rate bound, certain crisis-related structural features of the economy such as the share of liquidity-constrained households change, and the endogenous fiscal rule that ensures fiscal sustainability in the long run is specified in terms of labour income taxes instead of lump-sum taxes.

Hanging Together, Falling Apart: Self-Understandings of German Society from 1800 to the Present. CES Germany & Europe Working Papers, No. 04.7 (Series 51), 1994

In recent years, interest in comtemporary conceptions and self-understandings of the social order has grown among historians, yet the field of an "intellectual history of society" is little expJored for modern Germany. This paper surveys the field and asks how Germans from the early modern era up to the present time of German reunification conceived of the social order they were building and living in, and it provides an overview of the developments of such major concepts as "estate" and "class," "community" and "society," "individual" and "mass," "state" and "nation." Three major points emerge as persistent and distinctive features of German social self-conception in the nineteenth cand twentieth centuries: the intellectual construction of dilemmas between social conformity and social fragmentation; the difficulties of conceiving of society as a plitical society; and the "futurization" of an idealized, utopian social roder of harmony that was hoped would one day replace the perceived social disintegration.