Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n° 344

Posts Tagged ‘euro area’

Seizing the Moment for Euro Area Reform/Saisissons l’occasion pour réformer la zone euro

Posted by fidest press agency su giovedì, 1 giugno 2017

Area ReformThe election of Emmanuel Macron as French President gave renewed hope to proponents of the European integration project after the blow of Brexit. There is now a momentum that euro area member states could agree on the view that the euro is incomplete and cannot last without major reforms.In this Policy Paper, our president Enrico Letta, Henrik Enderlein, Director of our office in Germany, the Jacques Delors Institut – Berlin and Aart De Geus, President and CEO of the Bertelsmann Stiftung) set out their proposals for a staged but lasting and workable reform at the moment when the Commission publishes its reflexion paper on the deepening on the Economic and Monetary Union. They propose a comprehensive reform strategy based on three building blocks:
– a first aid kit consisting of a reinforced European Stability Mechanism (ESM+), an enhanced Banking Union and better economic policy coordination under improved democratic control;
– a more targeted structural reform agenda combined with a comprehensive investment initiative;
– a major reform of EMU for the long term, involving significant risk- and sovereignty-sharing within a coherent and legitimate framework of supranational economic governance.
These recommendations are based on a longer report that a working group published at the end of 2016. You can find the full report entitled “Repair and Prepare: Growth and the Euro after Brexit”. This publication is part of “Repair and prepare: Strengthen the Euro”, a larger research project of the Bertelsmann Stiftung and the Jacques Delors Institut – Berlin on the future of the euro.
L’élection d’Emmanuel Macron comme Président de la République française redonne de l’espoir aux partisans du projet européen après le Brexit. La dynamique actuelle pourrait permettre aux États membres de la zone euro de s’accorder sur le fait que l’euro est incomplet et ne pourra pas perdurer sans réformes majeures. Dans ce Policy paper, Enrico Letta, président de l’Institut Jacques Delors, Henrik Enderlein, directeur de notre bureau en Allemagne, le Jacques Delors Institut – Berlin, et Aart De Geus, président et directeur de la Bertelsmann Stiftung, plaident pour une réforme progressive mais durable et réaliste de la zone euro, au moment où la Commission publie un document de réflexion sur l’approfondissement de l’Union économique et monétaire.Les auteurs proposent une stratégie de réforme globale fondée sur trois piliers :
– un kit de première urgence consistant en un Mécanisme européen de stabilité renforcé, une Union bancaire enrichie et une meilleure coordination des politiques économiques sous un contrôle démocratique amélioré ;
– un agenda de réformes structurelles plus ciblé comprenant un grand plan d’investissements ;
– une réforme majeure et sur le long terme de l’Union économique et monétaire, impliquant un réel partage des risques et de la souveraineté, au sein d’un cadre cohérent et légitime de gouvernance économique supranationale.Ces recommandations sont basées sur le rapport “Repair and Prepare: Growth and the Euro after Brexit” publié en 2016 par l’Institut Jacques Delors (photo: Area Reform)

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Labour mobility in the euro area: cure or curse?

Posted by fidest press agency su domenica, 13 marzo 2016

Labour mobilityThe euro area has to address its imbalances and instability. Labour mobility in a currency union can be both a curse or a cure in this context. When job seekers move from areas with high employment to regions with many vacancies, they act effectively as shock absorbers. However, when young and better educated individuals move from structurally weak regions to dynamic ones, they can contribute to imbalances.In this Policy paper, Anna auf dem Brinke and Paul-Jasper Dittrich from our office in Germany, the Jacques Delors Institut – Berlin, look at the years following the crisis of 2008. Did labour mobility increase or decrease imbalances in the euro area? In times of low growth, the data suggest that labour mobility is rather a cure than a curse. However, its potential for the citizens of the currency area is not fully exploited yet. For labour mobility to play a role in the stabilization of the euro area against future asymmetric shocks much more policy action is needed. This is true for the national as well as the European level.To this end they discuss three complementary strategies. First, there is a need to facilitate more flexible working conditions and invest more in infrastructure that allows people to work and live in different countries. Second, there is a need to take measures to fully integrate the national labour markets into one European labour market. Third, there is a need for complementary institutions such as a permanent adjustment mechanism to further reduce the effect of asymmetric shocks. Labour mobility is a necessary but not sufficient ingredient for reducing imbalances in the euro area. The data show clearly that in the wake of the Great Recession, increasing labour mobility has the potential to lower unemployment and stabilize the euro area. (photo: Labour mobility)

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