EU-Turkey Summit on the refugee crisis Law and (dis)order? EPC Commentary, 21 March 2016

After many meetings and long hours of negotiations, the overwhelming feeling when a deal between the EU and Turkey was struck, was one of “mission accomplished”! Faced with an unprecedented crisis and forced to appease increasingly hostile public opinions back home, EU leaders had only one objective in mind: reducing the number of migrants arriving in the EU so that order can return in the framework of EU rules. However, a closer look at the Summit Conclusions and the EU-Turkey statement leaves a bitter taste, according to Yves Pascouau. In this Commentary, he questions the feasibility of the final EU-Turkey deal, saying that it creates more problems than it solves: besides the obvious legal and practical issues, it is far from certain which member states will be willing to do their part, or whether or not the EU can come up with a strategic vision on human mobility for the future.

Assessing the Single Supervisory Mechanism: passing the point of no return for Europe's banking union. Egmont Paper No. 58, June 2013

From the Executive Summary. Europe’s financial and sovereign debt crises have become increasingly interconnected. In order to break the negative feedback loop between the two, the EU has decided to create a common supervisory framework for the banking sector: the Single Supervisory Mechanism (SSM). The SSM will involve a supervisory system including both the national supervisors and the European Central Bank (ECB). By endowing the ECB with supervisory authority over a major part of the European banking sector, the SSM’s creation will result in a shake-up of the way in which the European financial sector is being supervised. Under the right circumstances, this could be a major step forward in addressing Europe’s interconnected crises.