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Event: A Fiscal Stabilisation Function for the Eurozone

20 April 2017, 09:00 am - 05:00 pm


Conference Room

1, Place du Congrès

1000 Brussels


Admission: free

Conference Programme A Fiscal Stabilisation Function for the Eurozone

Conference Programme (PDF)

Annual CEPS-Intereconomics Conference: A Fiscal Stabilisation Function for the Eurozone

The Five Presidents’ Report of 2015 has called for a macroeconomic stabiliser at the EMU level that would be capable of dealing with asymmetric shocks. A European unemployment benefits scheme (EUBS) is one potential stabilisation mechanism, although other proposals for devising risk-sharing tools that could be deployed across the Economic and Monetary Union have surfaced over the years. This high-level conference will explore and compare the advantages and disadvantages of the various schemes entertained. Which one is best suited for the member countries of EMU? Which one holds out the greatest promise of reducing the risk of deep recession? Do such schemes inevitably lead to moral hazard or are there practical safeguards that can be built into their provisions to minimise this risk from materialising? Are any of these proposal politically feasible in the near term? Join us and share your views on these important questions. 

You can register for the conference via the CEPS website.

Studies and conclusions will then be published in a coming issue of Intereconomics.


9.00 - 9.30 Registration and Coffee

9.30 - 9.45 Welcome and Introduction

Brigitte Preissl, Intereconomics

Daniel Gros, CEPS

9.45 - 11.00 Session 1

A European Unemployment Benefits Scheme for the Eurozone

Moderator: Daniel Gros, CEPS

Karolien Lenaerts, CEPS

Sebastian Dullien, HTW Berlin

Discussant: Suzanne Simonetta, Expert on Unemployment Insurance in the US

11.00 - 11.30 Coffee Break

11.30 - 12.45 Session 2

EMU Governance and the Eurozone's Fiscal Stance

Moderator: Derek Kruse, Intereconomics

Nicolas Carnot, European Commission

Christophe Kamps, European Central Bank

Discussant: Paul De Grauwe, LSE and CEPS

12.45 - 13.45 Lunch Break

13.45 - 15.00 Session 3

Fiscal Rules, Fiscal Policy and Risk-Sharing: Friends or Foes?

Moderator: Niku Määttänen, ETLA

Iain Begg, LSE

Cinzia Alcidi, CEPS

Discussant: Anne-Laure Delatte, CEPII

15.00 - 15.30 Coffee Break

15.30 - 17.00 Roundtable Debate

A Fiscal Stabilisation Function for the Eurozone: Why and Towards What End?

Moderator: Martin Sandbu, Financial Times

Joaquin Almunia, CEPS Board

Clemens Fuest, CES-Ifo

Suzanne Simonetta, Expert on Unemployment Insurance in the US

Frank Vandenbroucke, University of Amsterdam