The euro crisis and subsequent policy responses have challenged the assumptions underpinning the governance of the euro area, and the relationship between the European Unionâ??s euro- and non-euro countries. The euro policy regime has become increasingly complex and difficult to manage, raising...

One complement to domestic climate policies could be the regulation of carbon dioxide emissions arising during the production of imported products. Such â??border carbon adjustmentsâ?? (BCAs) are said to have several benefits, but are also severely criticised. This Policy Brief highlights some...

Bruegel Policy Brief 04/2014 is addressed to the incoming Presidents of the European institutions. It is the first in a series of memos to the new European leadership to be launched in September, which will address individual Commissioners with priorities for their portfolio. Take part in the...

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...

Based on a survey of European universities, this policy brief states that despite the good performance of some countries, Europe as a whole trails the US by a wide margin. The reason is two-fold. First, Europe invests too little in higher education. Second, European universities suffer from poor...

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...

Jean Pisani-Ferry, André Sapir and Jakob von Weizsäcker have put together a programme which combines an immediate budgetary stimulus by all EU countries with country-specific measures via the implementation of four concrete steps: 1. Budgetary boost 2. Reform commitment 3. Enforcement 4....

This policy brief argues that the euro area's shortcomings have become abundantly clear. It was set up without powers of strict surveillance over macroeconomic imbalances, crisis management and resolution instruments, or adequate banking supervision and resolution tools. The authors assert that...

The strengthening of the European Unionâ??s fiscal rules with the approval of the so-called â??six-packâ??, and the parallel worsening of economic conditions in Europe, re-opened the debate about the relationship between fiscal discipline and growth. Influential voices have argued against the...