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Sunday, 23 March 2014

EMU Governance: An interdisciplinary perspective

Jack Seddon (St John's College, Oxford)

The EMU project may still be riddled with uncertainty, but some of the fog is lifting. Today, only the most uncritical Europhiles would dare to think that enough has been done to ensure prosperity and economic security going-forward, while only those rhetorically trapped by prior-grave-predictions continue to write-off the prospect that this aspiration may yet become reality. The increasingly open space in between means there is work to be done. On 11th and 12th March 2014, the Political Economy of Financial Markets (PEFM) programme, in collaboration with the Santander Fellowship at the European Studies Centre, rolled up its sleeves in response to this emergent space for debate and sponsored a unique seminar on the future of EMU governance. The seminar was entitled: 'The Governance of EMU: Recasting Political, Fiscal and Financial Integration'. The broad aim was to graft scholarly content into the on-going EMU governance debates and to add new systematic analysis that might better explain the emergent trajectories. This academic seminar, conducted as a roundtable under the Chatham House Rule, brought together economists, economic historians, political scientists and international relations experts - as well as some officials and market participants - from several European countries and the United States.

Sunday, 2 March 2014

Global Monetary and Regulatory Spillovers

Heraclitus writes:

Since the onset of the global and euro area crises, advanced economy governments have introduced new policy approaches that have changed the monetary and regulatory landscape – including unconventional monetary policies in major economies and the agreement by bank regulators on Basel III. In today’s interdependent economy, such policies spill across borders: these changes have indeed had a substantial effect on emerging and developing countries in all regions. On 12th February, 2012, the Global Economic Governance (GEG) Programme and the Blavatnik School of Government, in association with the Political Economy of Financial Markets (PEFM) programme, hosted a high-level international roundtable on how monetary and regulatory spillovers are affecting emerging and developing countries, and what policy responses are called for.