The focus of this study is the EU level and, as stated in the terms of reference, the findings are intended to contribute to the identification of reforms and policy measures which are potentially most significant for Europe to ensure growth and jobs in the medium-term. The adverse consequences...

Against the backdrop of the review of the EU budget currently in progress, this paper revisits the academic literature on multi-level public finance and analyses to what extent theory can inform the discussion on budget reform. The answer may seem dis-heartening, in so far as the exploration...

The current financial, economic and fiscal crisis is among other things characterised by complex interrelations between financial, fiscal, macroeconomic and political instability. One instability breeds another, with feedback loops generating self-reinforcing adverse cycles: The financial crisis...

The Lisbon Agenda aims to prepare Europe for globalization by updating European policies for research, innovation, competition, trade, employment, education, social protection, environment and energy at both the European and national levels. Designed to inspire the new cycle of the Lisbon Agenda...

The ECOFIN Council decision of November 2003 that noted the existence of ‘excessive deficits’ in France and Germany but did not impose sanctions on these two governments was widely interpreted as sounding the death-knell for the Stability and Growth Pact. A ruling by the European...

There are differing views about the need for economic policy coordination in the EU and about the adequacy of the system that has evolved under EMU. This article examines the case for such policy coordination, then describes and assesses the current arrangements for both ‘hard’...

The focus of this study is the EU level and, as stated in the terms of reference, the findings are intended to contribute to the identification of reforms and policy measures which are potentially most significant for Europe to ensure growth and jobs in the medium-term. The adverse consequences...