Facilitating the financing of European companies through external equity is a central ambition of European Union financial regulation, including in the European Commission’s capital markets union agenda. An emphasis on equity is justified because Europe’s companies remain vulnerable because...

Banks deemed to be failing or likely to fail in the banking union are either put into insolvency/liquidation or enter a resolution scheme to protect the public interest. After resolution but before full market confidence is restored, the liquidity needs of resolved banks might exceed what can be...

Banks deemed to be failing or likely to fail in the banking union are either put into insolvency/liquidation or enter a resolution scheme to protect the public interest. After resolution but before full market confidence is restored, the liquidity needs of resolved banks might exceed what can be...

The European Union significantly increased its funding for migration, asylum and integration policies in the wake of the increased inflow of asylum seekers in 2015. This study provides an overview, an analysis and an evaluation of the use of these funds, based on publicly available information,...

The European Union significantly increased its funding for migration, asylum and integration policies in the wake of the increased inflow of asylum seekers in 2015. This study provides an overview, an analysis and an evaluation of the use of these funds, based on publicly available information,...

Since the crisis, there have been major changes in current account imbalances: whereas the global surplus was concentrated in China and oil exporters in the pre-crisis period, capital is today mainly exported from the euro area, Japan and a few other advanced economies. Moreover, although in the...

The "Brexit bill" is an expected payment to be made by the United Kingdom that would settle its financial commitments when it leaves the European Union.While authors of this Working Paper consider the financial settlement the least important economic issue in the Brexit negotiations, a...