Recommendations for Europe

Giuseppe Bertola, Edward Driffill (), Harold James, Hans-Werner Sinn, Jan-Egbert Sturm and Akos Valentinyi ()

EEAG Report on the European Economy, 2015, 06-07

Abstract: Chapter 2 The European Energy Conundrum: Power Failure / Formulate an effective bargaining strategy to ensure a global reduction in CO2 emissions / Establish a European energy union with a single market that does not discriminate against suppliers from other countries. / Eliminate fixed feed-in tariffs as incompatible with a Europe-wide energy strategy / Commit to price flexibility in energy markets following the logic of unbundling, which means separating suppliers from energy producers and delivery systems (pipelines, grids)./ Provide public investment in the enhanced connectivity of energy networks like gas pipelines and power transmission lines. Chapter 3 European Regional Disparity: Borders Strike Back / Coordinate policy reforms across euro area countries. / Countries in which the crisis has permanently changed the growth outlook need to accept some degree of fiscal austerity and embrace downward wage flexibility. / Periphery countries should make their labour markets more flexible. / The fiscal policy framework in the periphery countries should be strengthened to lend more credibility to the fiscal programs. Chapter 4 Banking Union: Who should take charge? / The ECB’s Comprehensive Assessment of Financial Institutions needs to be as rigorous and transparent in reality as claims suggest it will be. / Clarification of who will pay for the legacy problems revealed by the Comprehensive Assessment is essential. / The list of creditors exempt from bailing-in should be kept short.

Date: 2015
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Related works:
Journal Article: Recommendations for Europe (2019)
Journal Article: Recommendations for Europe (2018)
Journal Article: Recommendations for Europe (2017)
Journal Article: Recommendations for Europe (2016)
Journal Article: Recommendations for Europe (2014)
Journal Article: Recommendations for Europe (2013)
Journal Article: Recommendations for Europe (2012)
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