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ECB/Mersch: Europe after the warm reboot
Europe's "warm reboot" took place almost four years ago. Mersch looks at where Europe stands today and what challenges lie ahead.
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Nicolas Véron: Europe's institutional mismatches will create more turbulence in 2014 than in 2013
2013 has arguably been the calmest year in Europe since the onset of the financial crisis in 2007, but several reasons suggest that 2014 will be bumpier, writes Véron on the Bruegel blog.
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Bruegel/Wolff: Monetary policy cannot solve secular stagnation
Instead, improved investment conditions and a better integrated international financial system are the right way forward, says Wolff.
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EFSF issues €8 billion five-year bond; EBA recommends ESM and EFSF as "extremely high quality liquid assets"
EFSF placed an €8 billion five-year bond maturing on 22 January, 2019. In the EBA's December report on liquidity, EFSF and ESM bonds are mentioned specifically as assets to be considered as 'transferrable assets of extremely high liquidity and credit quality'.
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Fitch affirms European Financial Stability Facility at 'AA+''
Fitch Ratings has affirmed the EFSF's guaranteed long-term debt ratings at 'AA+'. The rating of the short-term (less than 12 months contractual maturity) guaranteed debt instruments has been affirmed at 'F1+'.
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OECD: The state of the banking sector in Europe
Authors Dirk Schoenmaker and Toon Peek write that the Baltics, Cyprus, Greece and Ireland have been hit by a strong decline in lending in the wake of the financial crisis.
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IIF: Views on the way forward for strengthening the framework for sovereign debt restructuring
This note from the IIF's Special Committee on Financial Crisis Prevention and Resolution is intended to contribute constructively to the ongoing discussions on possible refinements to the existing contractual, market-based approach to sovereign debt restructuring.
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IMF broadens financial surveillance
The IMF has revamped its methodology to determine which countries are required to go under the financial microscope on a regular basis, and has added four new ones to the list: Poland, Denmark, Finland and Norway.
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Letter from ECB/Draghi to ECON/Bowles on ECB's preparations for the SSM
Replying to the ECON chair's letter of 6 December, Draghi clarified questions raised i.a. on accounting rules, NCAs and the comprehensive assessment/AQR.
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Letter from ECON Chair and members of SRM negotiating team to Council Presidency regarding IGA
In its letter to Ambassador Sotiropoulos, the SRM team disagrees with the substance of the planned intergovernmental agreement (IGA), saying that it jeopardises the establishment and smooth functioning of the SRM.
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Bruegel/Merler & Wolff: 2014 Financial Odyssey
The authors look at how the first steps of the Banking Union should be implemented.
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