Four years after the introduction of the euro, this paper provides an overview of the current structure and integration of the euro area financial systems and related policy initiatives. We first compare the euro area financial structure with that of the United States and Japan. Using new and...

This paper studies the relative pricing of euro area sovereign CDS and the underlying government bonds. Our sample comprises weekly CDS and bond spreads of ten euro area countries for the period from January 2006 to June 2010. We first compare the determinants of CDS spreads and bond spreads and...

In this study we investigate the determinants of financing obstacles using survey data on a sample of around 5000 firms from the euro area countries. This completely new survey – started at the end of 2009 - gives us the opportunity to test whether firm characteristics such as size, age,...

This staff working document builds on the policies laid out in the European Commission Communication Tax and development - cooperating with developing countries on promoting good governance in tax matters and reflects the discussions at the Third FfD Conference. It analyses ways to support...

This information note is part of the European Commission's Agenda for Change, in which sustainable agriculture is a priority. It begins with an executive summary (Chapter 2), followed by a discussion of the importance of smallholder access to agricultural markets in Chapter 3. Chapters 4 to 7...

The new EU Consensus on Development was adopted in June 2017, confirming the EU’s commitment to be a frontrunner in the implementation of the 2030 agenda for sustainable development. The new consensus recognises the central place of budget support in fostering partner countries’ efforts...

Sustainable energy is fundamental to social and economic development and to power sustainable growth. It is needed to improve livelihoods in developing countries, ensuring access to clean water, cooking, education and healthcare for their people. Energy poverty is also among the root causes of...

Budget support is central to the international cooperation policy of the European Union. It provides a platform for policy dialogue with partner countries. It contributes to strengthening country systems and budget processes to deliver these policies. It offers additional fiscal space to...