The new EU leadership â?? the president of the European Commission and his team of commissioners, and the presidents of the European Council and of the European Parliament â?? will have to address pressing challenges. Go to eu2do.bruegel.org to read all the Memos, download the individual Memos...

Shifts in global economic dominance are by nature tectonic and never precipitated by single events. The Great Recession of 2008â??09, however, has presented the European Union, its common currency the euro, and the United States with new global challenges. The transatlantic partnership has...

Listen to the press conference call. The European Council has outlined the creation of a Single Resolution Mechanism (SRM), complementing the Single Supervisory Mechanism. The thinking on the SRMâ??s legal basis, design and mission is still preliminary and depends on other major initiatives,...

This paper discusses the creation of a European Banking Union. First, we discuss questions of design. We highlight seven fundamental choices that decision makers will need to make: Which EU countries should participate in the banking union? To which categories of banks should it apply? Which...

Shifts in global economic dominance are by nature tectonic and never precipitated by single events. The Great Recession of 2008-09, however, has presented the European Union, its common currency the euro, and the United States with new global challenges. The transatlantic partnership has...

Credit rating agencies (CRAs) have not consistently met the expectations placed on them by investors and policymakers. It is difficult, however, to improve the quality of ratings through regulatory initiatives. In the short term, changes to the CRAsâ?? regulatory environment, in a context of...

Shifts in global economic dominance are by nature tectonic and never precipitated by single events. The Great Recession of 2008–09, however, has presented the European Union, its common currency the euro, and the United States with new global challenges. The transatlantic partnership has...

Capital Markets Union (CMU) is a welcome initiative. It could augment economic risk sharing, set the right conditions for more dynamic development of risk capital for high-growth firms and improve choices and returns for savers. This offers major potential for benefits in terms of jobs, growth...

This paper discusses the creation of a European Banking Union. First, we discuss questions of design. We highlight seven fundamental choices that decision makers will need to make: Which EU countries should participate in the banking union? To which categories of banks should it apply? Which...

Credit rating agencies (CRAs) have not consistently met the expectations placed on them by investors and policymakers. It is difficult, however, to improve the quality of ratings through regulatory initiatives. In the short term, changes to the CRAs' regulatory environment, in a context of high...