Economic and monetary union

Feedback on the input provided by the European Parliament as part of its resolution on the ECB’s Annual Report 2022

Retrieved on: 
torsdag, april 18, 2024
Crypto, European banking union, Governance, Exercise, TARGET, Ciccarelli, Single, Climate, OJ, Ethics, Carbon, ECRB, Parliament, Council, European Systemic Risk Board, European Commission, Paris Agreement, Television, Annual, Letter, Speech, Employment, Social, ESRB, Euro, Prejudice, FSB, AML, ECB, Blog, Risk, ESCB, Committee, NGFS, Policy, Woman, Suggestion, Radio, GDP, Privacy, Weather, Person, Climate change, Communication, Digital, Intelligence, Economic and monetary union, SSM, Bias, Knowledge, Mentorship, EMU, Commission, Economy, Publication, Annual report, Financial Action Task Force, Orientation, Nickel, NPL, European Central Bank, Uncertainty, Financial Stability Board, Conference, NCBS, Treaty, Growth, Financial system, Central bank, European Parliament, Network, Natural Resources, COVID-19, Terrorism, Bank, Female, IMF, Multi-function printer, Recreation, Memorandum, Data, AMLA, Security printing

Beyond managing related risks, the financial sector can also contribute to the transition toward a net-zero economy.

Key Points: 
  • Beyond managing related risks, the financial sector can also contribute to the transition toward a net-zero economy.
  • Our work aims to enhance data transparency in climate change analysis, while informing monetary policy, financial stability and banking supervision.
  • The indicators we have developed focus on the euro area financial sector and are built from harmonised granular datasets.

Isabel Schnabel: From laggard to leader? Closing the euro area’s technology gap

Retrieved on: 
lördag, februari 17, 2024
Eurofi, Lecture, NGEU, Research, European Economic Association, GameChanger, Artificial intelligence, European Investment Bank, Education, Investment, Mining, Invention, Quarterly Journal of Economics, Growth, Superstar, Commerce, MIT Press, Labour economics, GDP, Health, Christian Social Union (UK), Climate change, History, Information technology, CompStat, Applied economics, ICC, Policy, Apple, Public policy, Diagnosis, Federal Reserve, European Parliament, Literature, NBER, Ageing, International economics, Software, Metal, Productivity, New Vision (newspaper), Review of World Economics, Recovery, Next Generation, Computer, MIT, Journal of Labor Economics, Nicolaus Copernicus, Journal of Monetary Economics, Craft, EDIS, European Fiscal Board, Howitt, International Chamber of Commerce, Financial management, Council, Journal, Electricity, Congress, Nobel, American Economic Journal, Transatlantic, Communication, Environment, Journal of Economic Perspectives, European Commission, American Economic Review, European Economic Review, Capital market, Economic impact analysis, Indicator, Demography, World War II, Paul Krugman, Single market, RRF, Macroeconomics, IMF, Daniel Schwaab, Frankfurt, Conference, Aggression, Carbon, Civil service commission, European Central Bank, Rise, Business, Labor share, Skill, Democracy, Heart, Quarterly Journal, E.F, Speech, Public, Public sector, OECD, Reproduction, Internet, Monetary economics, Fabiani, AI, Labour, Intangibles, Paper, Government, Competition, Economic and monetary union, Journal of International Economics, Organization, Treaty, Diffusion, Observation, Autumn, COVID-19, Resilience, Amazon, Role, Hand, Lost, EMU, Unemployment, ECB

This paper, by means of a DSGE model including heterogeneous firms and banks, financial frictions and prudential regulation, first shows the need of climate-related capital requirements in the existing prudential framework.

Key Points: 
  • This paper, by means of a DSGE model including heterogeneous firms and banks, financial frictions and prudential regulation, first shows the need of climate-related capital requirements in the existing prudential framework.
  • We further show that relying on microprudential regulation alone would not be enough to account for the systemic dimension of transition risk.

West Africa trade will take a hit as Mali, Niger and Burkina Faso leave Ecowas

Retrieved on: 
onsdag, februari 14, 2024
AES, Livestock, Farmer, University, African Union, Economic and monetary union, Economy, Senegalese Americans, Policy, Textile, Plastic, Democracy, Onion

Founded in 1975, Ecowas is one of eight regional economic communities recognised by the African Union to foster regional integration on the continent.

Key Points: 
  • Founded in 1975, Ecowas is one of eight regional economic communities recognised by the African Union to foster regional integration on the continent.
  • Its main objective is to create a single, large trading bloc through economic cooperation.
  • Intra-regional trade remains well below the levels of other regions and the west African economies still rely a lot on informal activities.
  • These networks have encouraged the development of informal trade between west African countries and prevented the implementation of trade facilitation initiatives.

The integration conundrum

  • Subject to constant climatic uncertainties, it includes some of the poorest and least developed countries in the world.
  • Sahelian countries such as Burkina Faso, Mali and Niger depend more on regional trade than coastal countries, such as Côte d’Ivoire, Ghana or Nigeria.
  • They tend to produce identical agricultural commodities, which they typically trade with other countries located on the Gulf of Guinea.
  • Livestock trade between the Sahel and the Gulf of Guinea is also highly dependent on free movement between west African countries.

The consequences

  • Withdrawing from Ecowas is likely to have major consequences on the regional economy as a whole.
  • Without free access to the ports of Cotonou, Lomé, Abidjan or Tema, Sahelian imports will be far more expensive.
  • In addition, leaving Ecowas and its free movement protocol could have catastrophic consequences for millions of Sahelians who live in – or wish to migrate to – coastal cities.

Political motivations

  • It is primarily motivated by the fact that the bloc’s approach to region-building is not confined to economic integration.
  • Ecowas is also well-known for its robust involvement in peacekeeping and security operations to end conflict in the region.


Olivier Walther receives funding from the Organisation for Economic Co-operation and Development.

Piero Cipollone: The euro at 25: what next for Economic and Monetary Union?

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tisdag, februari 13, 2024
NGEU, Freedom, Education, Investment, Next Generation EU, Growth, High, GDP, Attention, Single, University, Work, ESM, Policy, European Parliament, SURE, Recovery, Journal of Monetary Economics, Solidarity, ISPI, Council, American Economic Review, Blog, Journal, Economics, Congress, Workforce, Communication, Stability, Pressure, Depreciation, Smets, European Commission, Scar, Single market, RRF, Wildwood House, European Court, Economy, Frankfurt, Benefit, Central bank, City, European Central Bank, Employment, Commission, De Ridder, Speech, Research, Face, Insurance, Reproduction, Monetary economics, Annual report, Climate, Friends, Thought, Economic and monetary union, Mathematics, Risk, COVID-19, OJ, Mundell, Single Euro Payments Area, EMU, Brueghel, Justice, Unemployment, ECB, Renewable energy

We document how gas price fluctuations have a heterogeneous pass-through to euro area prices depending on the underlying shock driving them.

Key Points: 
  • We document how gas price fluctuations have a heterogeneous pass-through to euro area prices depending on the underlying shock driving them.
  • Supply shocks, moreover, are found to pass through to all components of euro area inflation – producer prices, wages and core inflation, which has implications for monetary policy.

RevoluGROUP Canada Inc. Announces Strategic Board Appointments to Bolster Growth and Innovation

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måndag, september 18, 2023
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Vancouver, BC, Sept. 18, 2023 (GLOBE NEWSWIRE) -- RevoluGROUP Canada Inc. (TSX-V: REVO ), (Frankfurt: IJA2 ) (“the Company”) is pleased to announce several appointments and adjustments to their board's composition to drive growth, productivity, and innovation.

Key Points: 
  • Vancouver, BC, Sept. 18, 2023 (GLOBE NEWSWIRE) -- RevoluGROUP Canada Inc. (TSX-V: REVO ), (Frankfurt: IJA2 ) (“the Company”) is pleased to announce several appointments and adjustments to their board's composition to drive growth, productivity, and innovation.
  • Fernando Guillen, with a strong background in running diverse companies and driving economic growth, has been appointed as a new Director.
  • These changes aim to leverage the diverse skills and experiences of the board members to achieve economic growth while maintaining high service standards and industry leadership.
  • These strategic appointments mark an exciting chapter for the Company, positioning us uniquely to unlock untapped opportunities, drive innovation, and foster new avenues of growth across Europe and worldwide."

International use of the euro was resilient in 2022

Retrieved on: 
torsdag, juni 22, 2023
European Central Bank, Eurosystem, Communication, Policy, Central bank, Board of directors, Research, Frankfurt, Lagarde, Release International, Economic and monetary union, ECB, Composite, Sound, Reproduction, Security printing, Cryptocurrency, Video game

- PRESS RELEASE

Key Points: 
  • - PRESS RELEASE
    International use of the euro was resilient in 2022
    21 June 2023
    - Euro remains second most widely used currency, amid geopolitical risks and high inflation
    - Euro’s share at around 20% across various indicators of international currency use
    - Euro’s global appeal linked to stronger Economic and Monetary Union
    The international role of the euro was resilient in 2022, with its share across various indicators of international currency use averaging close to 20%.
  • This was one of the main findings in the annual review of the international role of the euro, published today by the European Central Bank (ECB).
  • “Despite a succession of new shocks, the international role of the euro remained resilient in 2022.
  • The international role of the euro in foreign currency-denominated bond issuance, including international green bonds, as well as in invoicing of extra-euro area imports and exports, remained stable.

Highlights - Voting Time - REGI Meeting - 22.3.23 - Committee on Regional Development

Retrieved on: 
onsdag, mars 22, 2023
EPP, Assessment, INI, Communication, Policy, Economic and monetary union, Regional policy of the European Union, Civil service commission, European Commission, Time

Voting Time - REGI Meeting - 22.3.23

Key Points: 
  • Voting Time - REGI Meeting - 22.3.23
    22-03-2023 - 17:46
    At the REGI committee meeting on 22 March, members voted to adopt the following : the draft report on the role of Cohesion Policy in addressing multidimensional environmental challenges in the Mediterranean basin (2022/2059(INI)) - PE738.467 v01-00 - Rapporteur: François Alfonsi (Verts/ALE, France) as well as the draft report on the Assessment of the new communication of the European Commission on Outermost Regions (2022/2147(INI)) - PE738.459 v01-00 - Rapporteur: Álvaro Amaro (EPP, Portugal).
  • The result of the votes will be published on this site in due course.

Christine Lagarde: European Parliament plenary debate on the ECB Annual Report

Retrieved on: 
måndag, februari 20, 2023
European, Foundation, Attention, European Commission, International economics, Council, Paris, Time, Frankfurt, Reproduction, Communication, ECB, Lagarde, Prejudice, Civil service commission, European Central Bank, Goal, Freedom, Peterson Institute for International Economics, Economic and monetary union, Parliament, Food, Risk, Policy, Single, Heart, APP, Growth, Elliott District Community Government Council, European Parliament, Democracy, Employment, COVID-19, Environment, Next Generation, Speech, Economy, Council Implementing Regulation (EU) No. 282/2011, Achievement, Liquor, Security printing, Tourism, Cryptocurrency, Bank, Renewable energy, Security (finance), EU, Eurostat

Strasbourg, 15 February 2023

Key Points: 
  • Strasbourg, 15 February 2023
    I am very pleased to be back here in this plenary room – the heart of European democracy – to participate in today’s important debate.
  • The ECB was granted a democratic mandate to ensure price stability in the euro area.
  • To achieve this mandate, the ECB was also granted a high level of independence.
  • After all, reinforcing trust in our institution also supports our monetary policy, for example by anchoring inflation expectations.
  • Today’s debate on your draft resolution is crucial in both these aspects.
  • Let me start by briefly outlining our assessment of the euro area economy, as discussed by the Governing Council earlier this month.
  • As an anchor of stability, the euro has advanced European integration and strengthened the Single Market’s role in driving growth.
  • The euro has also become a binding symbol and integral part of our shared European identity, as its popularity shows.
  • The ECB is playing its part, notably by ensuring European banking supervision is effective and consistent.
  • As also advocated in your draft resolution, the ECB stands ready to agree on a formalisation, in writing, of the current accountability practices between the ECB and the European Parliament.
  • The ECB has made a proposal to the European Parliament and looks forward to finalising an agreement between our two institutions.
  • Lagarde, C. (2022), “A new global map: European resilience in a changing world”, keynote speech at the Peterson Institute for International Economics, 22 April.
  • ECB (2021) “Eurosystem reply to the Communication from the European Commission “The EU economy after COVID-19: implications for economic governance” of 19 October 2021”, 1 December.

CoR ECONomic Bulletin No. 11

Retrieved on: 
onsdag, maj 26, 2021
European Union, EFSI, Economy of the European Union, Economic and monetary union, European Committee of the Regions

You are here > > News > CoR ECONomic Bulletin No.

Key Points: 
  • You are here > > News > CoR ECONomic Bulletin No.
  • 11
    Click here to get an automatic translation of the text below.
  • 25/05/2021 | Economic and Monetary Union (EMU); Entrepreneurship; European Fund for Strategic Investment (EFSI); Financial markets; Industrial policy; Internal market; Investment policy; SME policy; State aid and competition; Sub-national finance; Taxation; Long-term strategy for investment, growth and jobs (renewed Europe 2020)
    The Covid-19 pandemic has substantial repercussions on the European economies.
  • The ECON Commission of the European Committee of the Regions prepares regular economic bulletins on recent research, articles and discussions on the socio-economic impact of the pandemic in Europe and on the different economic response measures planned and implemented at EU, national, regional and local level.

CoR ECONomic Bulletin No. 7: Updates on the COVID-19 crisis

Retrieved on: 
fredag, juli 3, 2020
EFSI, Economic and monetary union, Economy of the European Union, Economy, World economy, European Fund for Strategic Investments

03/07/2020 | Economic and Monetary Union (EMU); Entrepreneurship; European Fund for Strategic Investment (EFSI); Financial markets; Industrial policy; Internal market; Investment and EFSI; SME policy; State aid and competition; Sub-national finance; Taxation; Long-term strategy for investment, growth and jobs (renewed Europe 2020)

Key Points: 
  • 03/07/2020 | Economic and Monetary Union (EMU); Entrepreneurship; European Fund for Strategic Investment (EFSI); Financial markets; Industrial policy; Internal market; Investment and EFSI; SME policy; State aid and competition; Sub-national finance; Taxation; Long-term strategy for investment, growth and jobs (renewed Europe 2020)
    The Covid-19 pandemic has substantial repercussions on the European economies.
  • The ECON Commission of the European Committee of the Regions prepares regular economic bulletins on recent research, articles and discussions on the socio-economic impact of the pandemic in Europe and on the different economic response measures planned and implemented at EU, national, regional and local level.