In a new CEPS Policy Brief, CEPS Chairman H. Onno Ruding argues that financial reform is urgently needed in the EU not only to reduce the likelihood of another financial crisis in the coming years but also to reinforce the internal market. In his view, a primary financial as well as political...

The "great recession" has affected labor markets in Euro-area countries in very different ways. This chapter documents two important aspects of their response: the impact effect of the recession on the rate of unemployment, and the persistence of high unemployment. We find that countries lie on...