This paper assesses the progress made towards the creation of the European Banking Union (EBU) and the evolution of the banking industry in the European Union since the financial crisis of 2007. We review major regulatory changes pertaining to the three pillars of the EBU and the effects of new...

In the new European Union fiscal framework proposed by the European Commission in April 2023, medium-term fiscal adjustment requirements would be determined by country-by-country debt sustainability analysis (DSA), the 3 percent deficit ceiling and simple rules requiring minimum deficit and debt...

The Communication by the European Commission to reform the Economic Governance Framework offers welcome headspace for public investment, while avoiding the de jure adoption of a 'targeted Golden Rule' as this could conflict with national accounting conventions. However, even with this reform,...

The Communication by the European Commission to reform the Economic Governance Framework offers welcome headspace for public investment, while avoiding the de jure adoption of a 'targeted Golden Rule' as this could conflict with national accounting conventions. However, even with this reform,...

This paper analyses the compliance patterns of the European fiscal rules of the public debt and budget deficit in a group of twelve Member States. The aim is to make a contrafactual analysis to the compliance of those rules from 2020 to 2022 in a hypothetical scenario without the Covid-19...

This paper aims to assess the impact of the second-generation numerical fiscal rules on the effectiveness of public debt management in the Member States of the European Union. The research was conducted using dynamic panel models on a sample of 27 EU Member States over the period 2008-2021. The...