The carriage of goods across international boundaries involves bulk and sometimes complex transportation and therefore requires planning and the deployment of resources and logistics. In most cases, the use of sea transportation is commonly preferred. The legal issues surrounding the carriage of...

In reaction to disruptions of the Single Market, the European Commission put forward an emergency instrument. It proposes far-reaching measures in order to maintain the proper functioning of the Single Market and ensure the supply and distribution of goods and services. The dirigiste...

Die griechische Staatsschuldenkrise hat die inhärenten Probleme in der Konstruktion der Europäischen Währungsunion (EWU) deutlich gemacht. Diese resultieren daraus, dass die Geldpolitik zentralisiert ist, während die Fiskalpolitik noch immer dezentral durchgeführt wird. Hieraus ergibt sich...

The sharp rise in public debt-to-GDP ratios in the aftermath of the financial crisis of 2008 posed serious challenges for fiscal policy in the euro area countries and culminated for some member states in a sovereign debt crisis. This note examines the public policy responses to the euro area...

We examine whether collective memories on the aid&reform programs chosen to handle the 2010 European debt crisis differ between citizens from borrower and lender countries. We use new international survey data for non-experts and experts in member countries of the euro area. The results show...

This paper analyzes the financial regulatory structure of the US (federal level) from the point of view of information-flow. Two central discussions regarding regulation of the financial sector have been developing simultaneously: one regards the role of financial regulators in crisis prevention...

Following the global financial crisis, the European financial safety net, under which taken at European level steps to fully harmonize deposit guarantees, has been modified. The European deposit guarantee scheme is now an important part of the financial puzzle in the area of managing the...

This paper analyses the evolution of the safety and soundness of the European banking sector during the various stages of the Basel process of capital regulation. In the first part we document the evolution of various measures of systemic risk as the Basel process unfolds. Most strikingly, we...

This article provides thoughts and guidelines on how a country could exit from the Economic and Monetary Union (EMU) and its currency the euro. We take the hypothetical exit of Finland as a concrete example. Although there is a way out of the euro for Finland and other member countries, exit...