Much of the discussion about how to impose more convergence among member states of the eurozone has focused on what national governments should do to avoid divergent developments in a number of macroeconomic variables, e.g. competitiveness or current account imbalances. Without denying that...

The analysis in this Commentary provides strong evidence showing that the burden of the adjustments to the imbalances in the eurozone between the surplus and the deficit countries is borne almost exclusively by the deficit countries in the periphery. And although the European Commission has now...

Europe's policy-makers are engaged in protracted discussion on whether and how to increase the size of the euro rescue funds (the EFSF and the ESM). In this Policy Brief, Daniel Gros and Thomas Mayer argue that this attention on the headline size of the EMS and EFSF is misplaced. They propose...

The enthusiasm for shale gas is now spreading beyond the borders of the United States, entering national discourses in the European Union where it is seen to provide energy independence and jobs, as well as cheaper and more environmentally-friendly fuel. This paper provides a balanced and...

The eurozone debt crisis has now reached a turning point. This Policy Brief argues for a more organised intervention by the European Central Bank (ECB) to stop contagion through the creation of a quantitative easing programme, coupled with a political agreement among member states for a more...

The EU emissions trading scheme (EU-ETS) introduced in 2005 is the only mandatory cap-and-trade system operating in the world today. Lessons could be taken from the EU stance which allows for flexibility in rules and realises emission reductions with firm commitments by stakeholders.This CEPS...

For some time now, CEPS has participated in a project funded by the European Commission called 'Adaptation and Mitigation Strategies: Supporting European Climate Policy' (ADAM). One research stream within the ADAM project focuses on the implications of mitigation and adaptation strategies for...

Globalisation is more an opportunity than a menace and the European social model is not doomed. Globalisation is not a zero-sum game but there are undeniably adverse consequences. As a phenomenon of the late 20th and early 21st centuries, there can be little doubt that globalisation is something...

he small war between Georgia and Russia from 8 to 22 August 2008 has shattered any remaining illusions over the frontiers of the normative map of Europe. All the primary parties have to be criticised: Russia for setting a trap for Saakashvili to fall into, the Georgian leadership for its...

The European Parliament elections taking place on 4-7 June 2009 will provide a unique opportunity for addressing the role and potential of the EU on policies related to an Area of Freedom, Security and Justice (AFSJ). These policies lay at the heart of every citizen's expectations. This Policy...