European Response to Crisis

The project aimed to analyse the two distinct crises - the sovereign debt crisis and the pandemic crisis - that have hit the EMU in recent decades and to discuss the effectiveness and impact of the policy responses designed to address them.

To this end, the research for this project has been divided into three parts:

1. The European Union's response to the crisis
2. The crisis and political reforms
3. Financial transparency

The Group will investigate the future outlook for monetary and fiscal policies in the European Monetary Union, including the evolution of the EU budget, the multiannual financial perspective (MFF), the creation of fiscal capacity, the own resources system and the financing of the EU budget, and EU fiscal policy (scope and challenges). In the short term, the group will assess the impact of the Recovery and Resilience Plan.

Results

Cabral, N.C. (2022). ‘The European Monetary Integration Trap: incomplete sovereignty and the State-mimicking method’, Theoretical and Practical Research in Economic Fields, Vol. XIII, Issue 2(26), pp. 167-179.

Cabral, N.C. (2022). Modelos de Políticas Públicas Sociais - Do Rendimento Incondicional aos ‘vouchers’, passando por soluções intermédias, Almedina, Coimbra. (on Models of Social Policies Provision: From the Universal Basic Income to the ‘vouchers’ model, going through intermediate solutions).

Cabral, N.C., Gonçalves, J.R. & Rodrigues, N.C.(2022). ‘The Reform of the Economic Governance of E(M)U in the Post-Covid 19’, Carlos Jose Molina del Pozo & Virginia Saldaña Ortega (Dir/Coord.), Hacia la Construcción de um Verdadeiro Proyecto Federal por la Unión Europea, Editorial COLEX/Universidad de Alcalá, pp. 435-454.

Cabral, N.C. (2023). ‘The state-mimicking method and the alternative budgetary union in the E(M)U’, Annette Bongardt and Francisco Torres (eds.), The Political Economy of Europe's Future and Identity - Integration in Crisis Mode, European University Institute and UCP - Universidade Católica Portuguesa, pp. 252-266.

Cabral, N.C. (2023). ‘The New European Fiscal Framework: Ruling out Fiscal Policies or What else?’, Occasional Paper No. 01/2023, CFP, October 2023. Available at: https://www.cfp.pt/pt/publicacoes/outras-publicacoes/o-novo-quadro-orcamental-europeu-risco-de-desregulacao-das-politicas-orcamentais-ou-que-outro-resultado.

Research Team

Prof Dr Nazaré da Costa Cabral CIDEEFF

Prof Dr Nuno Cunha Rodrigues CIDEEFF

Prof Dr José Renato Gonçalves CIDEEFF

Duration: 2020-2023 (36 months)

Project status: Closed