Alan Ahearne and Jean Pisani-Ferry explore the implications of economic divergence in the euro area for policy makers, as well as the discipline required to be part of the single currency. From this analysis they derive policy recommendations, both for the policies and monitoring of existing...

The Lisbon agenda was reborn in 2005 with its economic goals prioritised and a new system of governance. But "naming and shaming" of underperforming countries has been dropped and there will be no redrawing of the EU budget. The new emphasis is on national "ownership" of reforms. Jean...

In this policy brief, Jean Pisani-Ferry and Bruno van Pottelsberghe show that although the crisis originated in the US, Europeâ??s outlook has deteriorated faster and more sharply leading to the worst crisis observed during the post-war era. However, the length of the crisis matters at least as...

Governance of the global economy is becoming a pressing matter and the situation is compounded by the growing number and diversity of players in the global economy. The authors argue that Europe is now in a position to take a leading role. Not only is it in Europeâ??s interest to reform the...

Increasing nervousness in world financial markets give new relevance to the long-standing issues of global current account adjustment. It reminds policymakers that this adjustment, if improperly managed, could lead to further drops in assets prices, disruptions in the global trading system, and...

The crisis in Greece presents an extraordinary test for the euro, but also an opportunity to strengthen, and apply more diligently, existing procedures governing the economic and monetary Union. This Policy Brief authored by Bruegel Director Jean Pisani-Ferry, Senior Fellow André Sapir and...

In this Policy Brief Zsolt Darvas, André Sapir and Jean Pisani-Ferry, propose a comprehensive solution to the current European crisis based in three pillars: a plan to restore banking sector soundness, a resolution of sovereign debt crisis including a reduction of the Greek public debt and a...

In November, South Korea joined the ranks of countries striving to limit the upwards pressure on their currency when two lawmakers submitted a parliamentary proposal to impose various taxes on foreign capital inflows and outflows. If any of these measures pushes through, South Korea would become...

This Policy Brief was adapted from a paper written by the three authors and presented by Bruegel Director Jean Pisani-Ferry at the informal ECOFIN Council meetings in Gothenburg, Sweden, on 1 Oct. In the brief, the authors argue that bank recapitalisation and restructuring should be a matter of...

The financial crisis, which is now hitting the new member states severely, highlights the shortcomings of the existing institutional architecture in Europe. Current strains reflect a revaluation of risks but they also result from policy mistakes. In this policy brief, Zsolt Darvas and Jean...