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 (thomas.beukers@eui.eu) or Viorica Vita (viorica.vita@eui.eu).


10 November 2015: Cameron’s Letter to Tusk on New Settlement for the UK in a reformed EU

November 10, 2015

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 […]

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9 November 2015: no green light from Eurogroup for disbursement to Greece (yet)

November 10, 2015

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 […]

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6 November 2015: Greek Parliament approves measures ahead of eurogroup meeting

November 8, 2015

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.

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4 November 2015: Speech by Dijsselbloem on private risk buffering and banking union, capital markets union and a European fiscal capacity

November 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.

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3 November 2015: Speech by Osborne on the UK relationship with the euro area

November 4, 2015

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: […]

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Further development of the EMU: should legitimacy come first or last? – by Päivi Leino-Sandberg

November 2, 2015

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 […]

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31 October 2015: Greek Parliament approves bank recapitalisation legislation

October 31, 2015

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 […]

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26 October 2015: Technical cooperation plan agreed between Commission and Greece

October 27, 2015

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 […]

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22/23 October 2015: intensive course on institutional and legal issues of EMU

October 22, 2015

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 […]

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21 October 2015: Commission presents concrete steps for EMU short term development

October 21, 2015

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 […]

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16 October 2015: Greece adopts reforms ahead of bailout review

October 18, 2015

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.

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15 October 2015: euro area member states present draft budgetary plans

October 18, 2015

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 […]

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15 October 2015: No progress on future of EMU at European Council

October 18, 2015

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 […]

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12 October 2015: Commission invites Spain to submit a new Draft Budgetary Plan

October 13, 2015

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 […]

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General Court in Accorinti: loss of private holders of Greek bonds not attributable to the ECB

October 12, 2015

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 […]

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9 October 2015: Giorgio Monti and Thomas Beukers present at ADEMU kick-of conference in Cambridge

October 9, 2015

See here for more information.

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Spain, Latvia and Finland present draft budgetary plans to European Commission

October 3, 2015

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).

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30 September 2015: General Court confirms there is no EU competence for unilateral member state decision not to pay back debts in state of necessity

October 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 […]

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20 September 2015: Greek elections confirm governing majority

September 21, 2015

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 […]

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12 September 2015: Eurogroup endorses new disbursement to Cyprus

September 13, 2015

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 […]

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27 August 2015: Greek Supreme Court Judge New Head of Government after Resignation Tispras

August 27, 2015

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 […]

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How Europe’s least controversial rescue fund became controversial – by Nik de Boer and Chris Koedooder

August 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 […]

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19 August 2015: German and Dutch Parliament support 3rd Greek assistance package

August 19, 2015

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 […]

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Portuguese Constitutional Court case law on policy measures implementing MoU

August 18, 2015

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.

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13 August 2015: Votes in Greek and Finnish Parliament related to MoU Greece

August 13, 2015

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 […]

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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.

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Europeanizing the Eurozone – by Tomas Dumbrovsky

July 31, 2015

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 […]

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The ESM and National Parliaments: France – by Diane Fromage

July 28, 2015

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 […]

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22 July 2015: Greece adopts new reforms required before start of negotiations on ESM assistance

July 23, 2015

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 […]

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17 July 2015: German Bundestag authorizes negotations on ESM assistance Greece

July 17, 2015

See the relevant section in the Report on Germany by Sabine Mair for further information on parliamentary involvement in the ESM in Germany.

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16 July 2015: Dutch Parliament debates start of negotiations on ESM assistance Greece – no vote required

July 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.

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16 July 2015: Finnish Parliament authorizes negotiations on ESM assistance

July 16, 2015

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.

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15 July 2015: French Parliament votes on Euro Summit deal

July 16, 2015

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.

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15 July 2015: Greek Parliament adopts all commitments specified in the Euro Summit statement

July 16, 2015

Greek implementation Fiscal Compact part of key Euro Summit deal

July 13, 2015

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 […]

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8 July 2015: Greek government formally requests ESM assistance

July 12, 2015

See below for the text of the formal request: ESM loan request letter 8 July 2015  

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The Greek Referendum: Unconstitutional and Undemocratic – by Xenophon Contiades and Alkmene Fotiadou

July 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 […]

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The Greek Referendum from Comparative Perspective: the Good, the Bad and the Ugly – by Fernando Mendez

July 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. […]

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The Greek Referendum: How Democratic is it? – by Alexander H. Trechsel

July 4, 2015

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 […]

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The Greek Referendum: is it Only a Question of Legality? – by Stavros Makris

July 3, 2015

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. […]

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