The financial crisis exposed Europe's inadequacy in developing an effective banking resolution framework that could bring together national authorities and set guidelines for their coordination. The European Commission, through its assessment of state aid cases, managed to avoid single market...

This paper discusses the creation of a European Banking Union. First, we discuss questions of design. We highlight seven fundamental choices that decision makers will need to make: Which EU countries should participate in the banking union? To which categories of banks should it apply? Which...

Jean Pisani-Ferry and André Sapir believe that the euro has proved attractive as a fair-weather currency for countries and investors well beyond its borders. But it still remains to be seen if its governance is strong enough for it to succeed as a stormy-weather currency. The authors already...

André Sapir produced this short paper at the request of Commissioner Mandelson for the Expert Seminar on Trade Defence Instruments at the European Commission.

Jean Pisani-Ferry and André Sapir call for more focused guidelines in Lisbon 2, an explicit methodology for evaluating National Reform Programmes, and better ownership of these programmes to encourage national debate on key areas of underperformance in member states. This paper, prepared at the...