@techreport{MackGuttenberg, type = {Working Paper}, author = {Mack, Sebastian and Guttenberg, Lucas}, title = {After the German election: What's next in EU economic governance?}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:b1570-opus4-42434}, pages = {6}, abstract = {The new German government will face a number of unresolved issues of varying urgency when it comes to EU economic governance. In the case of the fiscal rules, there is an urgent need for a decision on how to proceed after 2022. In the medium term, the future of EU finances and economic policy coordination is open; both have undergone drastic changes as a result of the Recovery Instrument. Last but not least, the new German government must decide whether and how to break the deadlock in negotiations on completing the banking union and breathe new life into the capital markets union.}, language = {en} } @techreport{GuttenbergNguyen, type = {Working Paper}, author = {Guttenberg, Lucas and Nguyen, Thu}, title = {Nach der Wahl: Wie weiter mit der Rechtstaatlichkeit in der EU?}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:b1570-opus4-42457}, pages = {6}, abstract = {Der Rechtsstaat ist in vielen Mitgliedstaaten der EU unter Druck. Insbesondere Polen und Ungarn stellen durch eine immer systematischere Aush{\"o}hlung rechtsstaatlicher Prinzipien den Grundkonsens der EU als Rechtsgemeinschaft zur Disposition. Mit dem Urteil des polnischen Verfassungstribunals vom 7. Oktober 2021 erreichte diese Entwicklung ihren bisherigen H{\"o}hepunkt. Dieser Policy Brief erkl{\"a}rt die Hintergr{\"u}nde des Konflikts, zeigt Handlungsm{\"o}glichkeiten f{\"u}r die Europ{\"a}ische Kommission auf und erl{\"a}utert, welche Rolle die n{\"a}chste Bundesregierung bei der Wahrung der Rechtsstaatlichkeit in der EU spielen kann.}, language = {de} } @techreport{Guttenberg, type = {Working Paper}, author = {Guttenberg, Lucas}, title = {A political enigma: Four open questions about the Conference on the Future of Europe}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:b1570-opus4-42528}, pages = {5}, abstract = {The Conference on the Future of Europe remains an enigma just five months before its projected end. In this policy brief, Lucas Guttenberg outlines the four main open questions that will determine the outcome of the conference and whether it will be judged a success: What level of ambition will the conference aim for? Who is calling the shots when it comes to the conference's outcome document? What will happen next after the end of the conference? And how will the conference impact the EU's institutional fabric in the long run?}, language = {en} } @techreport{GuttenbergNguyen, type = {Working Paper}, author = {Guttenberg, Lucas and Nguyen, Thu}, title = {How to spend it right - A more democratic governance for the EU Recovery and Resilience Facility}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:b1570-opus4-35594}, pages = {6}, abstract = {The Recovery and Resilience Facility (RRF) will be the core of the EU's new Recovery Instrument to fight the economic fallout of the pandemic. Under the RRF, 310 billion euros in additional EU spending will be allocated by the European Commission to member states based on individual Recovery and Resilience Plans (RRPs). In this Policy Brief, we argue that the proposed governance to decide on the assessment of RRPs lacks democratic elements as parliaments are largely sidelined. This should be changed to ensure necessary political ownership at national and European level; to include a second pair of European eyes to prevent misspending; and to avoid a roll-back of EU democracy. Therefore, we propose that the European Parliament get a veto over the Commission decision assessing individual RRPs and allocating funds. National parliaments should also have a say in the adoption of the RRP of the respective member state.}, language = {en} } @techreport{GuttenbergMack, type = {Working Paper}, author = {Guttenberg, Lucas and Mack, Sebastian}, title = {Building EU green bonds that deserve their name}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:b1570-opus4-36885}, pages = {4}, abstract = {The EU should seize the day: It should issue parts of the Recovery Instrument debt as green bonds and thereby boost that burgeoning market. But it is important to manage expectations: Issuing green bonds alone will not ‚green' recovery spending. This will depend on the criteria for climate-friendly spending in the legal texts governing the Recovery Instrument - and these so far lack teeth. So, there is a substantial risk that EU green bonds will set the wrong precedent now if backed by weak criteria. This would pre-empt future legislative work on the final EU green bond standard. If the criteria for climatefriendly spending are not strengthened, the Commission should scale back its ambition and should only issue green bonds for measures that fully match the criteria set out in the EU Taxonomy Regulation.}, language = {en} } @techreport{Guttenberg, type = {Working Paper}, author = {Guttenberg, Lucas}, title = {Time to come home - If the ESM is to stay relevant, it should be reinvented inside the EU}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:b1570-opus4-36962}, pages = {5}, abstract = {When restarting work on reforming the European Stability Mechanism (ESM), the Eurogroup should heed the lessons of the pandemic: The ESM has become politically unviable while there is apparently a lot more flexibility within the EU treaties than previously thought. Therefore, this policy brief argues that the old reform plans should be put to one side and the ESM should be reinvented inside the EU legal order if it is to remain relevant. Such a reinvention would create a coherent crisis management framework that would be politically sustainable in the long run.}, language = {en} } @techreport{GuttenbergHemkerTordoir, type = {Working Paper}, author = {Guttenberg, Lucas and Hemker, Johannes and Tordoir, Sander}, title = {Everything will be different: How the pandemic is changing EU economic governance}, doi = {10.48462/opus4-3734}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:b1570-opus4-37344}, pages = {5}, abstract = {The pandemic will completely shake up the EU's economic governance in five ways: EU debt is possible and will become a reality; the EU and the Eurozone get a fiscal capacity; the European Semester will be history; the crisis managament architecture is politically questioned; and the Eurozone loses its relevance for EU decision-making. Taken together, these five lessons from the pandemic will render the old pre-pandemic Eurozone reform agenda obsolete. EU institutions should use the coming 18 months to prepare a new reform agenda for EU economic governance that can deliver tangible results before the next EU long-term budget will be negotiated.}, language = {en} } @techreport{Guttenberg, type = {Working Paper}, author = {Guttenberg, Lucas}, title = {We Don't Need No Institution - What the Eurozone requires is not a treasury but a common fiscal policy}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:b1570-opus4-32881}, pages = {5}, abstract = {Does the Eurozone need a "treasury"? The answer is no: The Eurozone needs a common fiscal policy to complement the ECB's monetary policy. But it does not need a new institution to take fiscal policy decisions or to execute such decisions. The EU institutional framework is well-equipped to perform these functions. Hence, the focus of political energy should be on getting the right policies and instruments in place, not on building new shiny institutions.}, language = {en} } @techreport{GuttenbergGrundOdendahl, type = {Working Paper}, author = {Guttenberg, Lucas and Grund, Sebastian and Odendahl, Christian}, title = {Sharing the fiscal burden of the crisis - A Pandemic Solidarity Instrument for the EU}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:b1570-opus4-35141}, pages = {12}, abstract = {EU member states must share the burden of the fiscal costs of the COVID-19 pandemic. The Pandemic Solidarity Instrument delivers such burden sharing: The EU would borrow 440 billion euros in the market and would give it as grants to member states for specific spending in areas such as health care, short-time works schemes or stimulus packages; it would also give guarantees to the European Investment Bank to provide liquidity to European companies.}, language = {en} } @techreport{GuttenbergHemker, type = {Working Paper}, author = {Guttenberg, Lucas and Hemker, Johannes}, title = {Corona: A European Safety Net for the Fiscal Response}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:b1570-opus4-35107}, pages = {4}, abstract = {In order to avoid permanent scars from the economic impact of the Coronavirus in Europe, a determined fiscal response will be necessary. We argue that there should be a clear division of labor between Europe and national governments: the latter will have to provide stimulus with targeted measures, while Europe needs to build a safety net so that member states will not lose access to bond markets due to speculative attacks. This safety net should have three components: A commitment by member states to use ESM instruments without conditionality; a commitment by the ECB to use all of its tools; and a number of flanking measures to underscore member states' commitments.}, language = {en} }