Four years after the introduction of the euro, this paper provides an overview of the current structure and integration of the euro area financial systems and related policy initiatives. We first compare the euro area financial structure with that of the United States and Japan. Using new and...

This paper studies the relative pricing of euro area sovereign CDS and the underlying government bonds. Our sample comprises weekly CDS and bond spreads of ten euro area countries for the period from January 2006 to June 2010. We first compare the determinants of CDS spreads and bond spreads and...

This study highlights the importance of taxation for a very broad range of operations of companies in the Internal market. The evidence obtained from the responses provided by the 700 companies involved in the European Tax Survey strongly indicates that compliance costs of EU companies increase...

The publication u0091Structures of the taxation systems in the European Unionu0092 presents time series of tax revenue data from national accounts for the twenty-five Member States and Norway. It provides a breakdown of taxes according to different classifications: by types of taxes (direct...