European Policy Research
In this section you find analyses and commentaries on European (and especially German) economic and fiscal policy. Particular attention is devoted to the institutional development of the EU, above all monetary union, and its individual policy areas.
Talking Point
Italian EU Council presidency: Further softening of stability pact not a good idea
During its 6-month EU Council presidency, Italy wants to launch a renewed reform of the Stability and Growth Pact. This will also be an issue on this week’s European Council von 26 and 27 April. The extent of the reform is not clear yet – but it is clear that a softening of the just revised fiscal rules is anticipated. [more]
Chart in focus
Research Briefing
And yet they do move: EU extending exchange of information for tax purposes - new OECD standard to be finalised by September
The adoption of the proposal to extend the Savings Taxation Directive is another important stepping-stone towards comprehensive, universal automatic exchange of information at the EU level. The current schedule is very optimistic. But given the international developments over the past year it may be assumed that nothing will be able to stop the march of automatic exchange of information even beyond the EU's borders on a medium-term horizon. It remains to be seen to what extent it will actually be possible to coordinate the multitude of international initiatives with one another and ensure adequate data protection. [more]
EU Monitor
Transatlantic consistency? Financial regulation, the G20 and the TTIP
The transatlantic integration of financial markets has suffered a serious setback since the crisis of 2007. Since then, the countries affected have fundamentally overhauled the regulatory framework governing financial markets. However, this stricter regulation has led to regulatory divergence: Divergent rules on capital, liquidity, derivatives and banking structures are threatening to fragment the financial markets. Slightly divergent national policy preferences, the institutional framework and the relevant partners' differing ideas on reform have been the main factors driving this unfortunate trend. The proposed Transatlantic Trade and Investment Partnership (TTIP) provides a good opportunity to lay strong institutional foundations for regulatory cooperation on financial services as well. Responsibility for creating internationally harmonised rules on financial market regulation rests with the G20 leaders. [more]
In focus
Major Family Businesses in Germany: Spring Survey 2013
Within the framework of “The major family businesses in Germany” study series, 401 of the 4,400 major family businesses in Germany with an annual turnover of more than 50 million euros provided representative information in the spring 2013 survey on their current and future economic situation, the euro crisis, economic policy priorities for the coming years, own activities in R&D and the conditions for innovation. [more]
Current Issue
Focus Germany: So far, so good
Given the continued strong employment build-up and wage increases as well as slight increase in hours worked disposable income should grow by 2.5% even though monetary social benefits and income from self-employment and from investment are expected to rise only at a sub-par rate. Due to the falling inflation rate this allows real private consumption to rise by 1.2% in 2014, and might even have some upside potential. From 2015 the federal government plans to deliver a balanced budget. This year the federal budget will already run a structural surplus. Budgetary risks arise from higher interest rates and a weakening economy, as the budget includes barely any reserves for them while being exposed to potential additional spending on adjustments that need to be made to the minimum subsistence level (basic personal allowance) and children's allowance or for increases that need to be made to infrastructure spending. [more]
Coalition agreement, Trade relations Germany – US – China, Lifelong learning, Educational achievement, Financial integration between the Federation, the Länder and the municipalities in Germany, Debt ratio in Germany
Elections in Germany, General budget 2013, Low interest rates and savings decisions, Inflation
Spotlight on Germany
Articles on economic policy appear in the following periodicals: 
Dataflash Eurozone
    European elections 2014
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