Category Archives: Activities

Nobel Laureate Robert Lucas Holds ADEMU Lecture

Nobel laureate in Economics, Robert E. Lucas Jr, delivered a lecture for ADEMU on March 21, 2016 at the European University Institute in Florence, Italy. Continue reading

VIdeo Footage from the Kick-Off Conference


ADEMU Project Summary

An overview of how the ADEMU project plans to reassess the EU monetary and fiscal framework, as presented at the kick-off conference

 

Joaquin Almunia on Economic & Monetary Union Political Incentives 

Joaquín Almunia, former Vice President and European Commissioner for Economic and Monetary Affairs, discusses what the political incentives are for putting in place an economic and monetary union in Europe.

 


How will ADEMU Influence Economic Policy?

Thomas Cooley, NYU and ADEMU Advisory Committee Chair, addresses how the ADEMU project has the intent to alter the direction of economic policy and how policy makers are already engaged in the project.

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Legal and Institutional Dimensions of EMU:

Economists and Legal Scholars in Discussion

European University Institute, 11 December 2015
Sala Triaria, Villa Schifanoia

The purpose of this workshop is to begin discussions on four key areas in which actual or proposed changes to EMU can meet with legal and institutional constraints or raise important issues of design and effectiveness. Policy briefs which have been prepared by legal scholars in the project will be discussed in a shared meeting of legal scholars and economists. The discussion aims to deepen understanding as to how an effective and desirable EMU might be achieved and how, if at all, legal and normative difficulties that arise could be resolved.

Organisers: Professor Claire Kilpatrick, Professor Giorgio Monti
(Department of Law, European University Institute)

View Programme as a PDF

Programme:

9.30 – 11.00 Conditions posed to legal change in reaction to the Eurozone crisis at both EU and national levelCristina Fasone and Thomas Beukers | European University Institute“EMU and national constitutional conditions to change”Discussant: Ramon Marimon (EUI, Department of Economics)
   
11.00 – 11.30 Coffee Break
   
11.30 – 13.00 Legal aspects of the overall new EMU package Claire Kilpatrick | European University Institute“The New E in EMU: a Lawful and Effective Design”Discussants: Anna Rogantini Picco (EUI, Department of Economics) and Silvia Calò (EUI, Department of Economics)
   
13.00 – 14.00 Lunch (Sala Belvedere – for speakers and discussants only)
   
14.00 – 15.30 Legal aspects of risk-sharing mechanismsPaïvi Leino Sandberg | University of Helsinki and European University Institute“An Overview of Legal Aspects of Risk-Sharing”Discussant: Ramon Marimon | European University Institute

“An example Risk-Sharing in Economics: On the optimal design of a Financial Stability Fund”

   Thibault Martinelli | European University Institute“CAC and sovereign debt restructuring in the Euro area”Discussant: Johannes Fleck (EUI, Department of Economics)
15.30 – 16.00 Coffee Break
   
16.00 – 17.30 Legal aspects of banking unionChristy Ann Petit and Giorgio Monti | European University Institute“The Single Supervisory Mechanism: legal fragilities and possible solutions”Discussant: Matic Petricek (EUI, Department of Economics)

Mikaella Yiatrou | European University Institute

“Bank Resolution Financing”

Discussant: Matteo Gatti (EUI, Department of Economics) 

17.30 – 18.00 Follow-up discussion
   
 

 Those wishing to attend should register with Rossella.Corridori@eui.eu

ADEMU Researchers Review the Kick-Off Conference

After the ADEMU kick-off conference at the University of Cambridge, the researchers involved in the project were asked the following questions in order to provide a further insight into why they are involved in the project and why they think it is an important project. Here are some of their responses.

In your opinion, why is the ADEMU project important?

“The 2008 crisis is without doubt  the deepest and most protracted economic contractions  Europe has suffered  since the Great depression of 1929. Understanding the roots of this crisis and designing policies capable of preventing and/or managing this type of disturbances should be at the top of the research agenda. I think ADEMU will play a key role in this endeavour.” – Martín Uribe, Columbia University, ADEMU Associate Researcher

“It is important to establish a dialogue between policy makers, the general public, and academic economists. Unfortunately, this is not easy. A project like ADEMU can help.”Joachim Jungherr, Barcelona GSE, ADEMU Researcher WP3

“The ADEMU project brings together European economic policy debates and work at the research frontier to advance these debates.” – Thomas Hintermaier, University of Bonn, ADEMU Executive & Steering Committee

“The new architecture of the EU monetary and fiscal institutions and regulatory bodies represent a new regime of macroeconomic policies that are not yet sufficiently based on macroeconomic theory and evidence.  ADEMU project will analyze and critically review these issues and offer constructive feedback and policy recommendations.” – Radim Bohacek, CERGE, ADEMU Executive & Steering Committee, WP3

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Legal and Institutional Dimensions of EMU Intensive Workshop

Took place October 22nd-23rd, 2015

Workshop description:

The workshop included three hour sessions on each of the following four themes:

  1. Conditions posed to legal change in reaction to the Eurozone crisis at both EU and national level (such as competence constraints, fundamental rights limits)
  2. Legal aspects of the overall new EMU package (e.g. Macro-economic Imbalance Procedure, Excessive Deficit Procedure, Broad Economic Policy Guidelines)
  3. Legal aspects of risk-sharing mechanisms (e.g. European Stability Mechanism, prospects for Euro-bonds)
  4. Legal aspects of banking union (emphasis on: Single Supervisory Mechanism, Single Resolution Mechanism, deposit insurance)

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ADEMU Conference Proceedings

Anil Ari, University of Cambridge
Simon Lloyd, University of Cambridge

 Abstract

On 8 and 9 October 2015 the University of Cambridge hosted the kick-off conference for the ADEMU (A Dynamic Economic and Monetary Union) Project, part of the Horizon 2020 work program topic ‘Resilient and Sustainable Economic and Monetary Union in Europe’.[1] The objective of the ADEMU research project is to reassess the overall fiscal and monetary framework of the EU and, in particular, the Euro Area. Continue reading

Legal and Institutional Dimensions of EMU Intensive Workshop Agenda

Took place October 22nd-23rd, 2015

Workshop description:

The workshop included three hour sessions on each of the following four themes:

  1. Conditions posed to legal change in reaction to the Eurozone crisis at both EU and national level (such as competence constraints, fundamental rights limits)
  2. Legal aspects of the overall new EMU package (e.g. Macro-economic Imbalance Procedure, Excessive Deficit Procedure, Broad Economic Policy Guidelines)
  3. Legal aspects of risk-sharing mechanisms (e.g. European Stability Mechanism, prospects for Euro-bonds)
  4. Legal aspects of banking union (emphasis on: Single Supervisory Mechanism, Single Resolution Mechanism, deposit insurance)

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Ademu conference group photo

The ADEMU project kicks-off with conference at the University of Cambridge

Scientific Coordinator of the ADEMU project, Ramon Marimon, led the kick-off conference, joined by researchers from leading research institutes, as well as leading economists, lawyers and members of the European Commission.

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Presentations from the Kick-Off Conference

Reassessing the EU Monetary and Fiscal Framework

Introductory presentation reviewing the challenges for the Euro Area, the challenges for the ADEMU Horizon 2020 Reasearch Project

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