Today, British Prime Minister David Cameron has sent a letter to President of the European Council Donald Tusk, outlining the areas where the UK is seeking reforms to address the concerns of the British people over British membership of the European Union. He also gave a speech on Europe at Chatham House, setting out the […]Read More..
News & Comments
We welcome short entries about relevant European or national developments for this News and Comments section. You are invited to use the contact form for this or to directly contact Thomas Beukers (email@example.com) or Viorica Vita (firstname.lastname@example.org).
No deal was reached (yet) at Monday's Eurogroup on disbursement of a next tranche of € 2 billion to Greece, nor to release the linked € 10 billion reserved for bank recapitalisation, as creditors and Greece disagree on the details of foreclosure legislation (the protection offered to homeowners). See for more detailed news coverage EUObserver […]Read More..
The Greek Parliament on Friday approved new measures ahead of the eurogroup meeting of Monday 9 November which is to decide on a disbursement of 2 billion euro's. For detailed news coverage see the Financial Times and Repubblica.Read More..
4 November 2015: Speech by Dijsselbloem on private risk buffering and banking union, capital markets union and a European fiscal capacityNovember 6, 2015
At the Tatra Summit in Bratislava, President of the Eurogroup Jeroen Dijsselbloem held a speech on the medium- and long-term of EMU, discussing what is the best way forward to strengthen the risk-absorbing capacity of the eurozone and to assure build-in stabilisation tools.Read More..
Chancellor George Osborne gave a speech in Berlin at the BDI (Germany's industry body) in which he provide more details about what the UK Government wants to see changed in the EU. This is what he had to say about fixing the relationship between the member states in the Eurozone and those outside the Eurozone: […]Read More..
Païvi Leino-Sandberg is Adjunct Professor of EU Law, Academy of Finland Research Fellow, University of Helsinki and co-author of the Report on Finland available on this website. (This comment first appeared on the EU Law Analysis Blog: http://eulawanalysis.blogspot.be/2015/11/further-development-of-emu-should.html) The June 2012 the President of the European Council presented a report to the European Council setting out […]Read More..
The Greek Parliament on 31 October adopted a bill allowing for the injection of funds into the financial sector. This coincided with the publication by the ECB of stress test results indicating that the 4 biggest Greek banks (National Bank of Greece, Piraeus, Alpha Bank and Eurobank) needed recapitalisation. See for detailed news coverage Reuters […]Read More..
The European Commission and the Greek authorities have presented their plan for technical cooperation in support of structural reforms. The plan defines the general context of the cooperation, the guiding principles governing the technical cooperation, the areas to be covered by the technical support, specific principles regarding working methods, principles related to the envisaged financing of technical support, and […]Read More..
Legal and Institutional Dimensions of EMU Intensive Workshop October 22nd-23rd, 2015 from 9:30 am – 5:00 pm Where: Sala Triaria Villa Schifanoia Via Giovanni Boccaccio, 121, 50133 Firenze Italy Professors Claire KILPATRICK and Giorgio MONTI, with the involvement of Päivi LEINO-SANDBERG and Thomas BEUKERS Workshop description: The workshop will include three hour sessions on each of the following four […]Read More..
In a follow up to the Five President's Report of June 2015, the European Commission has today presented several new initiatives for the short term development of EMU, regarding such issues as external representation of the euro area at the IMF, a further streamlining of the European Semester, and improvement of the tools of economic […]Read More..
The approved measures include cutting pensions, raising the retirement age, increasing punishment for tax evasion and liberalising the energy market. They were approved by a majority of 154 out of 300 Members of Parliament. For more details see the reporting by Reuters.Read More..
All euro area member states except for Greece and Cyprus (currently subject to a macroeconomic adjustment programme) have submitted their annual draft budgetary plans in accordance with article 6(1) of Regulation (EU) No. 473/2013. The Commission now has to adopt an opinion on the draft budgetary plans as soon as possible and in any event […]Read More..
The relevant section of the European Council Conclusions states: "6. The European Council took stock of the discussions on the Presidents' report on completing Europe's Economic and Monetary Union. The European Council reiterates that the process of completing the Economic and Monetary Union must be taken forward in full respect of the single market and […]Read More..
As part of the so-called two-pack obligations, Member States of the euro area are required to submit annually to the Commission and to the Eurogroup a Draft Budgetary Plan presenting by 15 October the main aspects of the budgetary situation of the general government and its subsectors for the forthcoming year. Because of the general […]Read More..
In its judgment of 7 October the General Court decided that the loss suffered in 2012 by private holders of Greek debt instruments in connection with the restructuring of the public debt of the Greek State is not attributable to the ECB, but to the economic risks ordinarily inherent in financial sector activities. By protecting […]Read More..
See here for more information.Read More..
These three member states have presented their draft annual budgetary plans well before the deadline of 15 October set by the European governance legal framework (article 6(1) Regulation (EU) 473/2013).Read More..
30 September 2015: General Court confirms there is no EU competence for unilateral member state decision not to pay back debts in state of necessityOctober 2, 2015
On Wednesday 30 September 2015 the General Court of the EU decided that the European citizens' initiative seeking to allow cancellation of the onerous public debt of countries in a state of necessity such as Greece can not be registered. On 6 September 2012 the European Commission refused to register Mr Anagnostakis' proposal for a […]Read More..
Yesterday's elections in Greece confirmed the majority of the coalition formed by the Syriza party of Alexis Tsipras and the Greek Independents (ANEL). Together the two parties have a majority of 155 of the seats at the Greek Parliament (145 for Syriza and 10 for the Greek Independents), compared to their 162 majority in the […]Read More..
On 12 September the Eurogroup endorsed the updated Memorandum of Understanding and the disbursement of the next tranche of financial assistance to Cyprus. It welcomed the successful conclusion of the seventh review mission in the context of Cyprus' macroeconomic adjustment programme, which took place in July, and streseds the importance of an effective implementation of […]Read More..
Top Supreme Court judge Vassiliki Thanou was sworn in on Thursday to head a caretaker government that will lead Greece to new elections that are expected to take place on 20 September 2015. On 20 August, only hours after the ESM Board of Directors approved the first loan tranche of the 3rd Greek financial assistance […]Read More..
How Europe’s least controversial rescue fund became controversial – by Nik de Boer and Chris KoedooderAugust 20, 2015
Nik de Boer and Chris Koedooder are both PhD Researcher at ACELG. (This comment first appeared on the Amsterdam Centre for European Law and Governance (ACELG) blog: https://acelg.blogactiv.eu/2015/07/20/how-europes-least-controversial-rescue-fund-became-controversial/) Note: This comment was first published on 20 July 2015 at the ACELG Blog. On 11 August 2015, the third Greek rescue package, to be provided by […]Read More..
Today the German Bundestag voted in favour of the 3rd financial assistance package for Greece, with 453 votes in favour and 113 against (18 abstentions). The German Finance Minister had asked for the formal approval by the Bundestag. This approval is necessary for the German government representative to agree to adoption by the ESM Board […]Read More..
The European Constitutional Law Review has published a new article "Asterity measures under judicial scrutiny: the Portuguese constitutional case-law" written by Mariana Canotilho, Teresa Violante and Rui Lanceiro. See also the relevant section of the 'Report on Portugal' by Rita De Brito Gião Hanek and Daniele Gallo on this website.Read More..
The Greek Parliament is set to vote today on a set of prior actions presented as a condition for endorsement by the Eurogroup on 14 August of the Memorandum of Understanding agreed between the Greek government and the 'Institutions' (IMF/EC/ECB) on 11 August. See also the relevant section in the Report on Greece by Afroditi-Ioanna […]Read More..
Conference announcement 8/9 October 2015: Reassessing the EU Monetary and Fiscal Framework, ADEMU Kick-Off Conference (Cambridge)August 12, 2015
Take a look at the ADEMU kick off conference programme.Read More..
Tomas Dumbrovsky (J.S.D. Candidate at the Yale Law School, Assistant Professor at Charles University in Prague and author of the Reports on the Czech Republic and Slovakia) (This comment first appeared on I-CONnect: http://www.iconnectblog.com/2015/07/europeanizing-the-eurozone/) The way the Greek debt crisis was handled in the last weeks has been a public relations nightmare. The more or […]Read More..
Update on the Third Greek Aid Package: On 15 July 2015 both French assemblies were called to vote on a governmental declaration concerning the rescue of Greece. Prime Minister Manuel Valls was present in the National assembly whereas his declaration was simultaneously read in the Senate by Foreign Affairs minister Laurent Fabius. Before I analyse here […]Read More..
Reforms include a new Law on the recovery and resolution of credit institutions and investment firms, that implements Directive 2014/59/EU. See this opinion of the ECB of July 20 on the Greek draft law. The reforms also include a Code of Civil Procedure. The laws were voted by 230 out of 300 MPs, with 63 […]Read More..
See the relevant section in the Report on Germany by Sabine Mair for further information on parliamentary involvement in the ESM in Germany.Read More..
16 July 2015: Dutch Parliament debates start of negotiations on ESM assistance Greece – no vote requiredJuly 17, 2015
See the relevant section in the Report on The Netherlands by Jotte Mulder for further information on parliamentary involvement in the ESM in The Netherlands.Read More..
See the relevant section in the Report on Finland by Päivi Leino-Sandberg & Janne Salminen for further information on parliamentary involvement in the ESM in Finland.Read More..
See for more information our more recent analysis by Diane Fromage. See also the relevant section in the Report on France by Robin Gadbled and Diane Fromage for further information on parliamentary involvement in the ESM in France.Read More..
20150712-eurosummit-statement-greece Part of the statement reads: "Given the need to rebuild trust with Greece, the Euro Summit welcomes the commitments of the Greek authorities to legislate without delay a first set of measures. These measures, taken in full prior agreement with the Institutions, will include: (by 15 July) (…) full implementation of the relevant provisions […]Read More..
See below for the text of the formal request: ESM loan request letter 8 July 2015Read More..
The Greek Referendum: Unconstitutional and Undemocratic – by Xenophon Contiades and Alkmene FotiadouJuly 7, 2015
The Greek Referendum: Unconstitutional and Undemocratic By Prof. Xenophon Contiades and Dr. Alkmene Fotiadou (Centre for European Constitutional Law, University of Peloponnese) No democratic country should have to decide on its future through an unconstitutional, undemocratic referendum. Greece did. On Sunday, Greek citizens went to the polls to answer a question characterized by oracular ambiguity. A […]Read More..
The Greek Referendum from Comparative Perspective: the Good, the Bad and the Ugly – by Fernando MendezJuly 6, 2015
The Greek Referendum from Comparative Perspective: The Good, the Bad and the Ugly Fernando Mendez, Centre for Research on Direct Democracy, University of Zurich (and co-author of Referendums and the European Union: A comparative inquiry, CUP Press 2014) The aim of this short piece is to situate the July 5th Greek referendum in comparative context. […]Read More..
How Democratic is the Greek Referendum? Alexander H. Trechsel (Swiss Chair Professor in Federalism and Democracy at the EUI) (This comment first appeared in EUDO Café: https://blogs.eui.eu/eudo-cafe/2015/07/03/how-democratic-is-the-greek-referendum/) It could hardly get any more dramatic in the negotiations between the EU and the Greek government. The clock is ticking and if no solution can be found […]Read More..
Towards the Greek Referendum: Is it only a question of legality? Stavros Makris (PhD Researcher at the EUI), 3 July 2015 On 27 June, after an impasse in the negotiations with the Institutions, Alexis Tsipras, the Greek Prime Minister, called a referendum on a potential political deal with the Institutions concerning the country’s bailout programme. […]Read More..