The four freedoms in the EU: Are they inseparable? Bertelsmann Stiftung EUROPA Briefing 2017

The four freedoms govern the movement of goods, persons, services and capital within the EU. They are the cornerstones of the Single Market and the common currency. Many citizens see them as the greatest achievement of the European unification project. Brexit has reignited the discussion surrounding the free movement of people - that is the opportunity to live and work in any EU country. Technically speaking, it is possible to separate the four freedoms, but does it make political sense

European taxes: Do we need them? Bertelsmann Stiftung EUROPA Briefing 2017

In the European Union, each member state is responsible for its tax system. Different national regimes help with tax competition, but can also lead to tax evasion or unfair rules in the Single Market. That is why better coordination or even standardisation of taxes is debated. What tax regulations are there already in the Single Market? What would be the advantages and disadvantages of a European tax? And what reforms are being discussed in Europe

Convergence: Are the Eurozone countries too different? Bertelsmann Stiftung EUROPA Briefing 2017

The Eurozone countries are economically different. The crisis has rendered some of these differences more acute and this could destabilize the currency union. The Eurozone countries therefore need to agree on which type of convergence is most important to them and the best way to achieve it. In what areas should they converge? What differences could or should remain? And what policy instruments are required to achieve this

Imbalances: Should the EU intervene? Bertelsmann Stiftung EUROPA Briefing 2017

Economic imbalances keep recurring in the EU. Differences in trade balances dominate the debate. Germany has been generating very high surpluses for years and meets criticism for this reason. Are imbalances a threat to the EU, and what role does the euro play in this? Should politicians adjust differences in the balance of trade? And if so, is that up to national governments or the EU

Why the euro area needs new convergence goals and how to choose them

Economic convergence is generally taken as an important requirement for the euro area to function correctly. Without this, the significant differences between euro area economies could make sharing a currency problematic. As Anna auf dem Brinke writes, however, political and market forces have so far proven unable to prevent imbalances between member states. She argues that new convergence goals should be a key priority for the euro area and suggests a number of principles for choosing better convergence indicators

Growth and Euro Area Stability: The Double Dividend of a Deepened European Single Market for Services. Bertelsmann Stiftung Background Note 26 June 2015

The European Commission’s recent single market initiatives have a second important benefit beyond growth that is often overlooked: Deepening the Single Market for goods and services can also reduce imbalances in the euro area and limit its vulnerability to crises. A further integration of the Single Market thus provides a double dividend of growth and stability. This is the main issue addressed in this background note

The political economy of financial risk and preferences

Defence date: 29 May 2015Examining Board: Prof. Pepper D. Culpepper, European University Institute (Supervisor); Prof. Sven Steinmo, European University Institute; Prof. Ben W. Ansell, University of Oxford; Prof. Jonas Pontusson, Université de Genève.2016 recipient of the [EUI ] Linz-Rokkan Prize in Political Sociology.Does exposure to financial market risk lead to a shift to the political left? This dissertation studies the effect of financial risk on policy and party preferences. I analyze three different types of financial risk: student debt, mortgages, and private pension savings. They are the result of the three most important financial investments of households. I examine their effect on attitudes towards taxation, labor market, monetary, and social policies, as well as party support, and vote choice in the 2000s. This decade witnessed both a boom and bust of financial markets. All financial investments have in common that they first lower income, but promise higher income in the future. They are also substitutes for social insurance and other social benefits. Following the median voter theorem, there should be a shift to policies and parties on the right of the political spectrum when income increases. At the same time, individuals are exposed to financial risks: What happens if the investment does not pay off? Therefore, individuals will demand policies that both protect the returns of their investment as well as shelter them from risk. I argue that there are four effects: the income effect, the insurance effect, the risk effect, and the crisis effect. The income effect leads to a dislike for higher taxation. The insurance effect reduces demand for redistribution. The risk effect leads to different demands for different targeted policies, and the crisis effect reinforces both the income and risk effect. Analyzing panel and survey data from the United Kingdom and United States, as well as a comparative data, I show that savers are united and borrowers divided. I find that financial market risk, unlike labor market risk and contrary to what we would expect from the literature on the effect of globalization in individual attitudes towards the state, moves individuals further to the right. The crisis reinforced this effect. This dissertation speaks to previous research in welfare state retrenchment, new social risks, and inequality in post-industrial economies. It sheds light on the question of why we have not seen a new powerful group fighting for redistribution in the wake of the last crisis