Projects for Economy and Finance

  • January 2011 - January 2014

    On the Sustainability of Public Finances in Belgium (BEL-DEBT)

    Since the onset of the sovereign debt crisis in Europe in early 2010, developments in the public debt of Eurozone countries have been closely followed by financial markets. Belgium, one of the countries in Europe with the highest level of debt relative to GDP, has not been an exception. Even though Belgium managed to stay more or less off the radar screen of international investors thanks to its economic performance, the ongoing political crisis and the uncertainty surrounding the potential effects of future reforms have attracted, more recently, the attention of market participants as spreads on government bonds have been widening. This pushed the question of debt sustainability to the top of the agenda of Belgium’s policy- makers.

  • January 2011 - October 2011

    Study on the Application of Directive 2004/25/EC on Takeover Bids

    This study will cover both an analysis of its legal implementation and its application in the market, featuring the perception of stakeholders. It will also compare the Directive's obligations with similar ones in major third countries and survey the control structures and barriers to takeover bids that are not covered by the Directive. This study is led by Marccus Partners (Mazars). Within CEPS, Diego Valiante and Mirzha de Manuel are conducting the analysis of the Directive and its impact from an economic point of view.


  • January 2011 - August 2011

    Is the Europe 2020 Strategy Capable of Maintaining the EU's Competitiveness in the World?

    This study analyzes analyses the five main dimensions in the Europe 2020 strategy, which include the main targets in innovation, employment, education, energy and climate change and poverty reduction. The key themes to be addressed in the study include the strength and weaknesses of the single dimensions of intangible capital investment, the upgrading of European citizen’s skill levels to achieve higher employment rates, the evaluation of qualitative and quantitative education indicators, the feasibility of carbon tariff and proceeds in fixing both environmental and political problems and the interplay between government efficiency and social expenditure for efficient poverty reduction. Furthermore, this study will evaluate whether the indicators chosen in the new “pact” for competitiveness and the European semester overlap with the Europe 2020 strategy and whether there are missing indicators or trade-offs between the chosen indicators.


  • December 2010 - March 2011

    Screening of the European Banking Sector

    This project collected data to distinguish between the business models of the most prominent banks in the EU. Using the collected data, the study sought to highlight existing weaknesses associated with each model. The aim was to assess whether the recent reforms in the financial sector will effectively address some of these weaknesses inherent in some models without hampering the banks’ capacity to continue serving their main functions as financial intermediaries.
    Funded by: Green Group of the European Parliament


  • November 2010 - October 2014

    External Expertise for the European Parliament on Economic and Monetary Affairs

    CEPS has been retained by the European Parliament to provide it with independent expert advice on a variety of current and emerging issues connected to its work. Advice could be sought on the following: economic policy in the EU in general; monetary policy and the functioning of the EMU; fiscal policy, especially related to coordination aspects in EMU; economic governance, especially global, EU and eurozone governance; the international monetary and financial system.


  • July 2010

    Possible Scenarios of the Euro Zone Crisis and the Potential Impact of Each of the Scenarios on the Gold Market

    This report considers four short-term, alternative scenarios for the eurozone and analyses their possible implications for global economic trends and the gold market. Overall, the main findings suggest that in the near future, motives other than inflation hedging will be the main drivers of gold market dynamics. Growth in emerging economies, which are among the largest sources of gold demand, and financial market uncertainty, will be the most important ones. In particular, even if the worst scenario were to materialise and adverse global conditions could slow Asian growth, demand for gold from this region should not fall significantly. Moreover, even in the most optimistic scenario for the eurozone, global uncertainty will not evaporate easily. As a consequence, the gold price may continue to trend upwards for a period driven by investment demand from both the private sector and official investors.


  • May 2010 - October 2010

    SME Financing in the Mediterranean: Challenges Ahead

    The main goal of the CEPS-IEMed Working Group is to conduct an independent assessment of the obstacles facing access to finance to the SMEs in the region, and to examine practical avenues to improve the status quo. As noted by Ambassador Senén Florenza (IEMed), Chairman of the Working Group and Rym Ayadi (CEPS), Rapporteur, in their introductory remarks, the outcome of the Working Group will serve as a “repository of reflections”, which will fill a serious gap by offering an in-depth analysis of the key issues and remain a reference for future initiatives. Among the specific solutions that are already on table, the role of credit guarantee schemes, trade finance, bank diversity, capital markets and innovative funding sources have been discussed.


  • April 2010 - March 2015

    External Expertise for the European Parliament on Regulatory and Policy Issues within the Field of Budget and Budgetary Control in Different EU Policy Areas

    Through this multiple framework contract, expertise shall be provided in the form of briefings and studies, delivered upon ad hoc requests within a limited and defined time frame. They should be short, concise and easily accessible to Members, reflecting their specific needs identified in the individual specifications for each assignment. In addition to written advice, the framework contract would also cover associated services such as attendance at Committee meetings and presentations by lead experts, or the organisation of workshops as appropriate.

    CEPS’s expertise could be requested in Lot 1 Revenue; Lot 2 Cohesion and Lot 3 Preservation & management of natural resources.


  • April 2010 - March 2013

    BLUE-Enterprise and Trade Statistics (BLUE-ETS)

    BLUE-ETS is a project on official business statistics and, specifically, on one of EU NSIs key challenges; that is, providing high quality and robust statistical information, for better policy and socio-economic research, and to support the renewed Lisbon Strategy, while: 1) reducing the response burden; 2) simplifying and setting priorities; 3) cutting costs on enterprises, that stem from red-tape, over-regulation and duplications; 4) modernizing and re-engineering the methods for the production of statistics; 5) making data collection less burdensome and providing more information . Along with the principles of subsidiarity and proportionality, BLUE-ETS key aim is to support and contribute to the success of the EU Commission Communications MEETS Decision including Better Regulation for Growth and Jobs in the European Union; Action Programme for Reducing Administrative Burdens in the European Union; and the Reduction of the response burden, simplification and priority setting in the field of Community statistics. Accordingly, BLUE-ETS is expected to contribute to the success of the EU MEETS Decision.

  • Prospective Analysis for the Mediterranean Region (MEDPRO)

    MEDPRO is a network of 17 research institutes (100 researchers) from both shores of the Mediterranean funded under the FP7, of which CEPS is the leader. The project aims to undertake a deep foresight analysis of the development issues in eleven countries in the Southern and Eastern Mediterranean participating in the Barcelona process and in the Union for the Mediterranean. The project will undertake an analysis of the current state and prospective development in main areas of socio-economic development: Geopolitics and governance; demography, ageing, migration, health and gender issues; sustainable development, management of resources, adaptation to global warming; energy and climate change mitigation; economic development, trade and investment; financial services and capital markets and human capital, education and development of skills. It will then bring the partial foresight analyses in these areas into a broader framework of quantitative general equilibrium modelling, and be completed with qualitative scenarios for regional and broader integration within the region and with the EU and policy conclusions for the EU approach.