This story describes the circumstances that led to all five of us starting as editors at the same time, the unexpected things we have found, the unanticipated reactions we have encountered, how we worked as an editorial team, the central role of the editorial office manager, how we managed to...

These Memos, addressed to the next Commission President and to the new European commissioners, are written by Bruegel Scholars and edited by Senior Research Fellow André Sapir and focus on key economic aspects of EU policy-making. The new Commission will enter office at a challenging time for...

Alan Ahearne and Jürgen von Hagen explore the options European policy makers have in the context of global current account imbalances. Some Europeans are concerned that a disproportionately large burden of adjustment will fall on Europe when the European economy is not flexible enough to cope...

This report surveys the economic performance of the euro area and gives recommendations about six policy challenges of major importance for the future of EMU.

This Bruegel Blueprint argues that Europe should take the lead in defining a solution to the problem of excessive public debts and create a European Crisis Resolution Mechanism (ECRM).The authors, Francois Gianviti, Anne O. Krueger, Jean Pisani-Ferry, André Sapir and Jürgen von Hagen, present...

We study the channels of interstate risk sharing in Germany for the time period 1970 to 2006 following the methodology of Asdrubali et al. (1996). Their framework allows us to estimate the degree of smoothing of a shock to a state's gross domestic product by factor markets, the government...

There is a general consensus that monetary stability in Economic and Monetary Union (EMU) requires sustainable public finances of the member states. But how can a sufficient degree of budgetary discipline be maintained in Stage three of EMU?To answer this question, this study provides an...

The formation of the European Convention leads to revisit the ends and the principles of the European Union. This articles confronts insights from the economic theory of federalism and lessons from the history of European integration. It points out significant convergence between the normative...

What is the impact of political decentralisation in Latin America? This book considers the problems raised by political decentralisation in the region and identifies the challenges ahead. Political decentralisation tends to devolve a certain amount of financial responsibility to the sub-national...