...l’insertion dans la mondialisation pourrait être mieux maîtrisée et, transitoirement, la politique commerciale extérieure commune, en mettant dans une certaine mesure le marché communautaire à l’abri de chocs commerciaux trop forts en provenance de pays tiers, pourrait favoriser la...

This paper investigates the in inflationary effects of fscal policy in an optimizing general equilibrium monetary model with capital accumulation, exible prices and wealth effects. The model is calibrated to Euro Area quarterly data. Simulation results show that government defcits, high debt...

After 20 years of existence, the Single Market is still a work in progress. While a number of barriers have been abolished, new ones have appeared. It is therefore important to track developments in this area, take stock of the remaining obstacles and set up a road map for the Single Market to...

La présente note a pour objectif premier de déterminer si l'UE est parvenue à trouver un just e équilibre entre, d'une part, le contrôle du flux de marchandises en vue de protéger efficacement l'intérêt communautaire et, d'autre part, la promotion du commerce légitime.

Trading Platforms (TPs), which have automated trading members, have been the focus of increased attention in recent years. ESMA therefore decided in 2013 to conduct a peer review on the Guidelines on systems and controls in an automated trading environment for trading platforms, ESMA 2012/122...

The European Securities and Markets Authority (ESMA) published a Consultation Paper on Guidelines on the information that should beperiodically submitted to ESMA by credit rating agencies (CRAs). In this Final Report, ESMA considers the responses received to the consultation paper during Q3 2014...