EU and EMU after the economic crisis
The recent financial and economic crisis represents the deepest economic downturn for the EU and the world economy since WWII. The repercussions are visible today, not least in terms of the euro countries’ sovereign debt crises, which have resulted in very strong pressure for reform. In 2013, SIEPS will focus on both measures that have been implemented thus far, as well as on measures that are currently in the pipeline. As a first step, we will publish an overview and analysis of the steps that have been taken since the Greek crisis erupted in the spring of 2010. In a second phase, SIEPS intends to approach the issue of a full banking union in the EU and the various aspects that such a move entails.
Moreover, the crisis has caused several macroeconomic disturbances that have affected variables such as asset prices, growth and employment. Concerning the first aspect, SIEPS will publish an analysis of housing financing, which analyses a) the role played by housing financing for the economy as a whole; and b) the development of a common European market for mortgages. The second aspect, economic growth, is analysed in a report that assesses the importance of the quality and stability of institutions. Finally, SIEPS intends to carry out an empirical analysis of youth unemployment.