The Dutch wish-list for a lighter regulatory touch from the EU. CEPS Commentary, 1 July 2013

The Dutch government set out the results of its review of EU competences on June 21st, under the slogan “European where necessary, national where possible”, claiming that the EU does not adequately respect the principles of subsidiarity and proportionality. It published a list of 54 points for corrective action, which Michael Emerson assesses in this new CEPS Commentary. The political significance of this initiative is heightened because it comes alongside the UK's ongoing review of EU competences, although unlike the British, the Dutch make no mention of secession, treaty changes or repatriation of competences.

Addressing weak inflation: The European Central Bank's shopping list. Bruegel Policy Contribution 2014/05, May 2014

There are clear benefits to price stability. High inflation can distort corporate investment decisions and the consumption behaviour of households. Changes to inflation redistribute real wealth and income between different segments of society, such as savers and borrowers, or young and old. Price stability is therefore a fundamental public good and it became a fundamental principle of European Economic and Monetary Union. But the European Treaties do not define price stability. It was left to the Governing Council of the European Central Bank (ECB) to quantify it: "Price stability is defined as a year-on-year increase in the Harmonised Index of Consumer Prices (HICP) for the euro area of below 2%"[1]. The Governing Council has also clarified that it aims to maintain inflation below, but close to, two percent over the medium term, though it has not quantified what 'closeness' means, nor has it given a precise definition of the 'medium term'[2]. The clarification has been widely interpreted to mean that the actual target of the ECB is close to, but below, two percent inflation in the medium term.

Care for the old rather than sleepwalk into war in East Asia. CEPS Commentary, 23 June 2014

In view of the demographic dynamics of East Asia, in this commentary Wolfgang Pape makes a plea for a kind of ‘geriatric peace’ in the region rather than further territorial disputes and expensive military build-up.