Liste der Veröffentlichungen des Think Tank des EP
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Liste der Veröffentlichungen des Think Tank des EP
https://www.europarl.europa.eu/thinktank
Suchkriterien für die Erstellung der Liste :
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Schlagwortliste "Schuldennachlass"
13 Ergebnisse
Erstellungsdatum : 10-12-2021Member States with Excessive Macroeconomic Imbalances
Art der Veröffentlichung
Briefing
Kalenderdatum
07-11-2019
Verfasser
ZOPPÉ Alice
Politikbereich
Europäisches Semester | Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste
Europäisches Semester | Haushaltsdefizit | Makrofinanzhilfe | Mitgliedstaat der EU | Schuldennachlass | Stabilitätspakt
| öffentliche Schulden
Zusammenfassung This note provides an overview of the surveillance of the three Member States that have been assessed as
experiencing excessive macroeconomic imbalances in the context of the 2019 European Semester cycle and
according to the Macroeconomic Imbalance Procedure (MIP). Separate notes describe the state of play of the MIP
implementation and the MIP procedure.
Briefing EN
Sovereign Debt Restructuring and Debt Mutualisation in the Euro Area: An Assessment
Art der Veröffentlichung Eingehende Analyse
Kalenderdatum 04-06-2019
Externe Autor S. Rossi
Politikbereich Europäisches Semester | Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste Euro-Währungsgebiet | Schuldennachlass | Währungskrise | öffentlicher Schuldendienst
Zusammenfassung Existing proposals for reform in the euro area, including the introduction of an orderly sovereign debt restructuring
mechanism and of forms of debt mutualisation, rely on similar implicit or explicit assumptions: The “diabolic loop”
between sovereign debt and domestic banks is to be mitigated or avoided; market discipline has to be maintained; and
moral hazard has to be avoided. This paper discusses the stated goals of existing proposals, together with their likely
anticipated and unanticipated effects and trade-offs. It recognizes that several of these underlying assumptions and
frameworks are at odds with the extant empirical evidence. It concludes by setting forth a three-pronged proposal for
reform in the Euro Area. First, it is desirable to have a more explicit seniority structure in sovereign debt, which should
be achieved by introducing a junior class of risky sovereign bonds linked to nominal GDP growth. Second,
governments with high legacy debt and/or high deficits should be required to access new financing by issuing such
junior bonds. Third, the extent of fiscal stabilization and banking union in the Euro area should be increased.
Eingehende Analyse EN
How could the Stability and Growth Pact be simplified?
Art der Veröffentlichung
Eingehende Analyse
Kalenderdatum23-04-2018
Externe Autor
Carlo Cotterelli
Politikbereich
Europäisches Semester | Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste
Euro-Währungsgebiet | Gemeinschaftsorgan | Governance | institutionelle Reform | Makroökonomie | Mitgliedstaat der
EU | Schuldennachlass | Stabilitätspakt | Transparenz des Entscheidungsprozesses | wirtschaftspolitische Steuerung
(EU)
Zusammenfassung The complexity of the SGP, which may have contributed to its limited effectiveness, reflects largely the conflict
between the need to make the original SGP rules more stringent and the desire to allow flexibility with respect to
various country circumstances. Now that the effects of the largest economic shock since the 1930s are fading away, a
major simplification of the system could be achieved by removing some margins of flexibility, while possibly relaxing
some of the SGP long-term parameters. The coexistence of the MTO rule and the expenditure benchmark could also
be reconsidered. A more radical solution would involve shifting to a single rule in which an “operational target” would
respond to deviations of public debt from its long-term objective.
Eingehende Analyse EN
Thematic Overview: Member States whose 2017 Draft Budgetary Plans Were Assessed To Be "At Risk of
Non-Compliance" with the Stability and Growth Pact
Art der Veröffentlichung
Eingehende Analyse
Kalenderdatum29-05-2017
Verfasser
ANGERER Jost
Politikbereich
Europäisches Semester | Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste
EU-Recht | Europäisches Semester | Haushaltsdefizit | kurzfristige Prognose | Mitgliedstaat der EU | Schuldennachlass
| Stabilitätspakt | Wirtschafts- und Währungsunion
Zusammenfassung This briefing gives an overview of recent European Commission (COM) assessments of the budgetary situation of
seven Member States (Portugal, Italy, Belgium, Cyprus, Lithuania, Slovenia and Finland) whose 2017 Draft Budgetary
Plans (DBPs) were considered to be “at risk of non-compliance” with their obligations under the Stability and Growth
Pact (SGP). This briefing may be updated pending new COM and Council decisions.
Eingehende Analyse EN
10-12-2021 Quelle : © Europäische Union, 2021 - EP 1Servicing government debt: The impact of rising interest rates
Art der Veröffentlichung
Briefing
Kalenderdatum
02-03-2017
Verfasser
SCHEINERT CHRISTIAN
Politikbereich
Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste
einheitliche Währungspolitik | Euro-Währungsgebiet | Europäische Zentralbank | Inflation | langfristige Prognose |
Schuldennachlass | Schuldverschreibung | Zins | öffentliche Schulden
Zusammenfassung Interest rates are at historically low levels, both in the European Union and worldwide. For the euro area, a reason for
low market interest rate levels is the accommodative monetary policy of the European Central Bank (ECB), which
endeavours to increase inflation levels. Most of the time, central banks have to fight inflationary tendencies, but
recently inflation was almost non-existent in the euro area, even leading to occasional dips into deflation. For some
time, inflation was very far from the ECB’s 'below but close to 2 %' aim. With clear indication that inflation is picking up,
an end to the accommodative monetary policy may be in sight. Should this impact long-term interest rates for
government bonds, then it might lead to detrimental effects for governments. An increase in interest rates is generally
thought to harm public finances, as the servicing of debt becomes more onerous. This briefing shows that the increase
in interest rates does not immediately and fully translate into higher costs for the state, as debt management strategies
were put into place that will effectively reduce the short- and medium-term impact on the state’s coffers. However, in
the long term, governments cannot escape the effects of market interest rate increases. It could lead to an increase in
overall debt, and in certain cases might result in the neutralisation of past fiscal consolidation efforts. Please click here
for the full publication in PDF format
Briefing EN
Sovereign debt restructuring Main drivers and mechanism
Art der Veröffentlichung Briefing
Kalenderdatum 28-02-2017
Verfasser NIEMINEN Risto
Politikbereich Finanz- und Bankenangelegenheiten | Haushalt | Haushaltskontrolle | Wirtschaft und Währung
Schlagwortliste Drittland | Europäisches Semester | Internationaler Währungsfonds | kollektiver Rechtsschutz | Mitgliedstaat der EU |
Schuldennachlass | Stabilitätspakt | Völkerrecht | wirtschaftliche Auswirkung | Wirtschaftswachstum | öffentlicher
Schuldendienst
Zusammenfassung This briefing provides an overview of the main issues relating to the restructuring of sovereign debt, and outlines the
factors which impact the decision as to whether or not to proceed with debt restructuring. Restructuring is a complex
issue – it involves positive and negative aspects, which need to be analysed in order to be able to determine whether it
can deliver any added value. ‘A sovereign debt restructuring can be defined as an exchange of outstanding sovereign
debt instruments, such as loans or bonds, for new debt instruments or cash through a legal process’. The current
situation in the euro area, characterised by high levels of debt and the continuing trend of many Member States to run
budget deficits, combined with a low growth environment, raises the issue of debt sustainability. In addition, the low
level of inflation recorded in recent years (and deflation in some cases) has played an important role in the increase of
debt burdens. The lack of an EU - level transparent framework for sovereign debt restructuring could potentially entail
higher additional costs. As part of the EU’s financial stability management instruments, sovereign debt restructuring
could form a part of the EU toolbox.
Briefing EN
Ad-hoc exchange of views with the President of the Eurogroup and the Managing Director of the ESM on
Greece
Art der Veröffentlichung Briefing
Kalenderdatum 06-11-2015
Verfasser ANGERER Jost | CIUCCI MATTEO | HRADISKY Martin | MESNARD Benoit | VEGA BORDELL Javier María | ZOPPÉ
Alice
Politikbereich Europäisches Semester | Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste Banksystem | Beistandsmechanismus | Eurogroup (Euro-Zone) | Finanzlage | Griechenland | Internationaler
Währungsfonds | konjunkturelle Erholung | Konsolidierung der Schuld | nationale Wahl | Schuldennachlass |
Stabilitätsprogramm | Strukturanpassung | Wirtschafts- und Währungsunion | Wirtschaftsreform
Zusammenfassung Eurogroup President Jeroen Dijsselbloem and Managing Director of the ESM Klaus Regling have been invited for an
ad hoc Exchange of views relating to the macro-economic adjustment programme for Greece. Jeroen Dijsselbloem
has been Eurogroup President since 21 January 2013. He was re-appointed for a second term on 13 July 2015. As the
President of the Eurogroup, he is also chairing the Board of Governors of the European Stability Mechanism (ESM).
Klaus Regling has been Managing Director of the ESM since its inauguration on 8 October 2012. His term of office
lasts for 5 years and may be renewed only once. Note that the Eurogroup is to discuss the state of play regarding the
implementation of Greece's economic adjustment programme at its meeting of 9 November 2015.
Briefing EN
10-12-2021 Quelle : © Europäische Union, 2021 - EP 2Austerity or growth?
Art der Veröffentlichung
Briefing
Kalenderdatum
04-07-2012
Verfasser
NEEDHAM Christopher
Politikbereich
Finanz- und Bankenangelegenheiten | Haushalt | Wirtschaft und Währung
Schlagwortliste
Haushaltsdefizit | Rezession | Schuldennachlass | Sparpolitik | Stabilitätsprogramm | Stützungspolitik | öffentliche
Schulden
Zusammenfassung Government debt has reached unsustainable levels in a number of Member States (MS). This is because economic
recession since 2008 has led to increased government budget deficits through rising spending (e.g. unemployment
benefits) whilst tax revenues have decreased. Also private debt has been transferred to governments through forced
nationalisations of, for example, under-capitalised banks. These deficits have added to public debt, which has been
increasing since the 1970s.
Briefing EN
A short history of the eurozone crisis
Art der Veröffentlichung
Briefing
Kalenderdatum 29-03-2012
Verfasser
NEEDHAM Christopher
Politikbereich
Demokratie in der EU, institutionelle und parlamentarische Rechte | Finanz- und Bankenangelegenheiten | Wirtschaft
und Währung
Schlagwortliste Euro-Währungsgebiet | Haushaltsdefizit | Rezession | Schuldennachlass | Sparpolitik | Stabilitätsprogramm |
Währungskrise | Zusammenarbeit in Haushaltsfragen
Zusammenfassung When the economic crisis started in 2008, a number of eurozone Member States had growing budget deficits and
government debts, along with competiveness problems. Monetary union without fiscal union may be the seed of the
current difficulties.
Briefing EN
Greek debt restructuring
Art der Veröffentlichung
Auf einen Blick
Kalenderdatum 16-03-2012
Verfasser
PONTIROLI GOBBI Francesco
Politikbereich
Wirtschaft und Währung
Schlagwortliste
Armut | Griechenland | internationale Anleihe | Internationaler Währungsfonds | Rezession | Schuldennachlass |
soziale Auswirkungen | öffentliche Schulden
Zusammenfassung Greece has recently secured a deal with private-sector lenders to ease its financial situation. Implementing this deal
will make it possible for Greece to receive further bailout funds from the European Union (EU) and the International
Monetary Fund (IMF).
Auf einen Blick EN
Member States' austerity measures
Art der Veröffentlichung
Briefing
Kalenderdatum
05-05-2011
Verfasser
NEEDHAM Christopher
Politikbereich
Beschäftigung | Haushalt | Wirtschaft und Währung
Schlagwortliste
Altersversorgungssystem | Arbeitslosenversicherung | Haushaltsausgabe | Haushaltsdefizit | Koordinierung der WWU-
Politiken | Mitgliedstaat der EU | Rezession | Schuldennachlass | Steuererhebung
Zusammenfassung Now that economies are growing again, Member States are looking to reduce their debts / budget deficits by effecting
plans for rapidly reduced expenditure and increasing tax revenues.
Briefing EN
Impact of Privatisation of the Public Sector on Developing Countries
Art der Veröffentlichung
Studie
Kalenderdatum
01-02-2001
Externe Autor
Bruno Losch (Cirad-Tera)
Politikbereich
Entwicklung und humanitäre Hilfe | Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste
Armut | Entwicklungsland | Entwicklungsplan | Marktordnung | Privatisierung | Schuldennachlass |
Wirtschaftsliberalismus | Wirtschaftsreform
Zusammenfassung The results of privatisation in developing countries have proven very disappointing. Many obstacles which have
appeared are related both to the characteristics of the economic, social and institutional environment and to the
practical conditions of their implementation. The analysis based on case studies of privatisation of agricultural sectors
and services makes it possible to present a nuanced evaluation, to highlight several recurrent characteristics of
ongoing reforms and to propose a series of general and operational recommendations.
Studie EN
10-12-2021 Quelle : © Europäische Union, 2021 - EP 3Third World Debt and the Various Strategies of Debt Relief
Art der Veröffentlichung
Studie
Kalenderdatum
16-10-2000
Verfasser
PABST Reinhart
Politikbereich
Entwicklung und humanitäre Hilfe | Finanz- und Bankenangelegenheiten
Schlagwortliste
Afrika | AKP-Staaten | Armut | Entwicklungsland | Entwicklungspolitik | Internationaler Währungsfonds |
Schuldennachlass | Weltbank | Wirtschaftsbeziehungen
Zusammenfassung This study was drawn up on the initiative of Mr Joaquim Miranda, Chairman of the Committee on Development and
Cooperation, in view of the ongoing importance of the debt burden for so many developing countries. The present
document examines both the present situation of those countries with a debt burden, and the means whereby this
burden can be alleviated.
Studie EN, FR
Zusammenfassung XL
10-12-2021 Quelle : © Europäische Union, 2021 - EP 4You can also read
