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It is the quality of the political institutions and the stability (or durability) of such institutions that strongly increases the probability of sustained financial deepening.

Can I trust the government? New evidence on democracies and financial development

By: EBR | Monday, October 11, 2010

What do countries need for sustainable financial development? This column argues that protection of property rights is necessary but not sufficient. Using a sample of 160 countries from 1960 to 2005, it finds that checks and balances on power and political stability are the vital ingredients.

The Commission is evidently not able to spend the money it has, but the mindset in the Commission is as usual: ‘more and more and more’.

Editor′s Column: Jose Mourinho for Commission President!

By: N. Peter Kramer | Monday, September 20, 2010

As President of the European Commission, Barroso has the chance to be the most famous Portuguese of the European Union. But unfortunately for him, there is always that other Portuguese, the “Special One” as he calls himself, Jose Mourinho.

The EU also needs policies that will promote standardisation, normalisation and innovation, and member governments must learn to avoid micro-managing and instead work as part of a horizontal EU-wide approach.

How to stop anti-crisis policies from becoming protectionist

By: Europe′s World | Thursday, July 29, 2010

“Industrial policy” has long been a euphemism in most parts of Europe for economic nationalism, and the problem is getting worse. Elie Cohen looks at the policy aftermath of the financial crisis and sets out a framework for EU-level industrial policymaking.

The future of Europe: Staring into the abyss

By: The Economist | Wednesday, July 21, 2010

Will the European Union make it? The question would have sounded outlandish not long ago. Now even the project’s greatest cheerleaders talk of a continent facing a 'Bermuda triangle' of debt, demographic decline and lower growth.

In the early years after democracy was restored, the countries of central and eastern Europe found themselves exposed to the stern regulatory environment of the EU’s internal market without any chance to influence the way it was shaped or implemented.

Why the EU newcomers still don′t make the best of membership

By: Europe′s World | Tuesday, June 22, 2010

Many of the EU’s newest member states are no longer the euro-enthusiasts of yesteryear, and they also complain they have less influence on policymaking than they had hoped. Pavel Telicka assesses the newcomers' track record so far.

The leaders believe that the necessary reforms of the regulation of financial services must be completed urgently. "Our priority is to have a solid and healthy banking system," said Herman Van Rompuy, President of the European Council.

Europe 2020 finalised

By: EC Press Room | Friday, June 18, 2010

European leaders meeting in Brussels on 17 June adopted Europe 2020, a new 10-year strategy for jobs and growth which will promote the delivery of structural reforms.

Verhofstadt was a longstanding Prime-Minister in Belgium and the last one to win confidence on both sides of the language border in his country. Twice he was a candidate himself for the Commission Presidency.

Guy Verhofstadt: the Saviour of the European Commission?

By: N. Peter Kramer | Friday, June 11, 2010

Former long standing Belgian Prime-Minister Guy Verhofstadt is using his current position as President of the Liberal Group in the European Parliament, to play patron to the EC, which has lost power since the Lisbon Treaty came into force and also due to its lack of ambition and sufficient quality

The EU must find a way of working with Turkey in areas of common interest – foreign policy, security, energy – in ways that go beyond the narrow, bureaucratic confines of the accession process.

Turkey and Europe: a shifting access

By: EBR | Thursday, June 10, 2010

Turkey’s new regional confidence appears to make the problems in its accession to the European Union less significant. But the linkage is more complicated, says Katinka Barysch, deputy director of the Centre for European Reform.

One thing is clear: Eppink is a well informed insider in the European process. He promises in the introduction of his book to describe the workings, growth and power of the European bureaucracy. He also promises not to criticise any specific person, ‘since the system has now become much stronger than any mere individual.

Bonfire of Bureaucracy in Europe

By: N. Peter Kramer | Wednesday, June 9, 2010

Derk-Jan Eppink (1958) wrote ‘Bonfire of Bureaucracy in Europe’ sitting in the plane above the Atlantic Ocean. Since he was elected as a member of the European Parliament in 2009, he has been commuting between Brussels and New York City, where he used to live and where his family is still living.

When the European Union was founded, Europeans were full of idealism and enthusiasm as they fought for a peaceful, united continent. What remains of this fascination? Not enough, unfortunately.

′The European Union Needs More Honesty′

By: EBR | Tuesday, May 25, 2010

The sovereign debt crisis has led to at times bitter disagreement within the European Union. But it has also resulted in a debate about the need for further integration of the 27-member bloc. It's about time, argues European parliamentarian Manfred Weber. The EU, he says, needs to renew itself.

Brussels comes first from a civic viewpoint, which ranks the intensity of transnational activity in Europe′s cities.

Brussels role seen as irreversible

By: EBR | Friday, May 21, 2010

'Brussels has become the de facto capital of the European Union without any real decision being made,' a new research argues, going on to suggest that leaders are 'extremely unlikely' to ever attempt to move the EU institutions elsewhere.

Europe is thus an extraordinarily diverse portrait of economic, political and social conditions. The foundation of the European project was the idea that these nations could be combined into a single economic regime and that that economic regime would mature into a single united political entity.

Europe, Nationalism and Shared Fate

By: Stratfor - Strategic Forecasting | Friday, May 14, 2010

The European financial crisis is moving to a new level. The Germans have finally consented to lead a bailout effort for Greece. The effort has angered the German public, which has acceded with sullen reluctance. It does not accept the idea that it is Germans’ responsibility to save Greeks.

The Conservatives are the largest party in parliament after last week's election but fell 20 seats short of an outright majority. Combined with the Liberal Democrats, they will have a majority of 76 seats.

Cameron leads Britain into new coalition era

By: Reuters | Wednesday, May 12, 2010

Britain's first coalition government since 1945 will set out its main policy goals on Wednesday with a core task being to tackle the country's record budget deficit. A deal between two usually ideologically opposed parties that critics say will lead to future instability.

While Britain and the United States remain close on issues such as intelligence, the war in Afghanistan, how to handle Iran, free trade and economic issues, experts say both countries appear to be altering overall expectations of their alliance.

The end of something 'special'?

By: Reuters | Wednesday, May 5, 2010

Britain's role as a bridge between the United States and European Union has diminished and that trend will accelerate if the May 6 vote is inconclusive, with Washington looking more and more to the European Union as a whole as a global partner.

There will be a major test of confidence next month when Portugal will have to redeem five billion euros of Treasury bonds that mature on May 20. The government says there will be no problems.

Is Portugal next?

By: Reuters | Thursday, April 29, 2010

Portugal should be able to avoid being the next country after Greece to need an EU bailout as there is a strong likelihood that an austerity plan announced last month will gain parliamentary approval and then be accepted by the population without violent protests.

The founding fathers of the European Union were motivated by a most noble goal: to create the institutions needed to secure lasting peace on the continent.

Strauss - Kahn: The Road Ahead for Europe

By: Dominique Strauss-Kahn, IMF Managing Director | Tuesday, April 27, 2010

The integration of Europe’s goods, capital, and labor markets has brought tremendous benefits to all its members—with the economies of the new member states in particular enjoying a rapid catch-up.

Greece bowed to pressure from financial markets on Friday (23 April), making a formal request for the activation of a joint aid package from the EU and International Monetary Fund (IMF) that is valued at up to 45 billion euros.

Greece: New measures before it receives any financial aid

By: Euractiv | Monday, April 26, 2010

Greece must agree to tough new austerity measures before it receives any financial aid from the European Union and failure to do so would endanger such support, German Finance Minister Wolfgang Schaeuble told a newspaper.

Wasn’t it Commission’s President Barroso, who told us in 2009, when the Russians cut of the Ukrainian transit pipeline, that gas coming from Russia is not secure? In 2010 however the European Commission sees Nord Stream as an EU ‘priority’ project that in 2012 will supply an annually 55 billion cubic meters of gas.

Even Pipelines give the Blues

By: N. Peter Kramer | Tuesday, April 13, 2010

The day before the Polish President, his wife and dozens of top Polish political and military leaders died in a plane crash, Russian and EU officials marked the start of the construction of Nord Stream gas pipeline: a first chunk of 48-inch-diameter steel pipe was laid on the Baltic Sea bed.

In a rare weekend telephone conference, finance ministers of the 16 nations that share the single European currency backed a detailed plan for Greece to borrow from euro-zone governments and the IMF at significantly below market rates.

Euro zone readies giant rescue package for Greece

By: Reuters | Monday, April 12, 2010

(Reuters) - Euro zone finance ministers approved a giant 30-billion-euro ($40 billion) emergency aid mechanism for debt-plagued Greece on Sunday, but stressed Athens had not requested the plan be activated yet.

Presenting the Interim Economic Assessment for G7 countries, OECD Chief Economist Pier Carlo Padoan said: “Although we are seeing some encouraging signs of stronger activity, the fragility of the recovery, a frail labour market and possible headwinds coming from financial markets underscore the need for caution in the removal of policy support.”

Growth seen easing back slightly in US, Europe and Japan in first half of 2010

By: EBR | Wednesday, April 7, 2010

The pickup in activity seen in the G7 countries in the last quarter of 2009 is expected to ease back in the first half of this year, according to the OECD’s latest Interim Economic Assessment. Consumer and business demand is likely to suffer from sluggish credit growth.

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