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Action Policy Digest – March 2017

Autore :

Data: 13-03-2017

Tipo: Other

Tematica: Action Institute

Organized as a monthly newsletter, it presents an overview of the current international policy debate. You find below a selection of the best ideas from the most influential think tanks, structured in four areas: (i) Finance, (ii) Innovation and Development, (iii) European Affairs and (iv) Social Policy.
FINANCE

“GDP-linked bonds: A primer” (VOX). Policymakers and economists have been looking for ways to make it easier to manage increasing debt burdens. This column assesses one possible solution: GDP-linked bonds that tie the size of debt payments to an economy’s wellbeing.

“Brexit and the Asset Management Industry” (CEPS). In this Policy Brief, the author analyzes the big impact that Brexit will have on the asset management industry.

“Should we worry about Greek banks?” (BRUEGEL). Earlier this month, the IMF and the European institutions clashed over conditions for sustainability of the Greek debt. One of the main disagreements seems to be the evaluation of the Greek banks’ health. Whose assessment should be trusted and are there reasons to worry?

“Credit rating agency reform is incomplete” (BROOKINGS). In the on-going controversy over how strictly to regulate financial institutions and markets in the wake of the financial crash of 2008, regulation of credit rating agencies has dropped out of sight.

“In search of a European solution for banks’ non-performing loans” (VOX). European banks have not recovered from the Global Crisis, in part due to heavy provisions for non-performing loans. This column argues that the establishment of a European scheme to securitise non-performing loans should form one of the next steps towards recovery.

INNOVATION AND DEVELOPMENT

“Europe’s telecoms reform fails to fly” (CEPS). Europe today enjoys a giant opportunity to step into a position of global internet leadership. Europe is pressing forward with a new reform of its telecoms sector that aims to spread a convenient and high-speed broadband access throughout the continent.

“Electronic money versus money: An assessment of regulation” (VOX). EU governments still underspending on research and failing to get innovation outputs.

“Unleashing Innovation and Entrepreneurship in Europe: People, Places and Policies” (CEPS). This report sets out the elements for the design of a streamlined and future-proof policy on innovation and entrepreneurship in Europe.

EUROPEAN AFFAIRS

“Making the best of Brexit for the EU27 financial system” (BRUEGEL). The EU27 needs to upgrade its financial surveillance architecture to minimise the financial market fragmentation resulting from Brexit and the corresponding increase in borrowing costs for firms.

“Regroup and Reform: Ideas for a more responsive and effective European Union” (CEPS). The report offers concrete recommendations for how the Union can show added value to European citizens in the areas of security andjustice, socio-economics and monetary policy – recommendations that will help reform the workings of the Union.

“The EU’s Loss of Direction” (CARNEGIE EUROPE). The European Commission’s new white paper on the future of Europe lacks a strategic compass and ambition.

“Brexit should drive integration of EU capital markets” (BRUEGEL). Brexit offers EU-27 countries a chance to take some of London’s financial services activity. But there is also a risk of market fragmentation, which could lead to less effective supervision and higher borrowing costs.

SOCIAL POLICY

“Gender Inequality and Integration of Non-EU Migrants in the EU” (CEPS). The integration of refugees and migrants into the labour market and into society stands at the forefront of current policy debate. And rightly so: betterintegration enriches not only the migrant, but also the host country’s population and its public finances.

Credit

Let me remind you that credit is the lifeblood of business, the lifeblood of prices and jobs.

Herbert Hoover […]

Health

Good health is essential to social and economical development and it empowers all of the public sectors.

World Health Organization […]

Innovation

Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.

Peter Drucker […]

Human Capital

Talent is a source from which water flows constantly renewed. But this source loses its value unless it is properly used.

Ludwig Wittgenstein […]