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BRUEGEL European Unemployment Scheme_12.07.2014-Final

BRUEGEL European Unemployment Scheme_12.07.2014-Final

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Published by Bruegel
Presentation to EPSCO.
Presentation to EPSCO.

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Published by: Bruegel on Jul 18, 2014
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A European Unemployment Insurance Scheme
Necessary? Desirable? Optimal?
Grégory Claeys, Research Fellow, BruegelZsoltDarvas, Senior Fellow, BruegelGuntramWolff, Director, Bruegel  July, 2014
 
New debateon a European unemploymentinsuranceasa stabilisationtool
Prior politicalconsenttofiscalrisksharingneeded
Ambitiousprojectwithimplicationsfor
labourmarketinstitutions, activationpoliciesetc.
Moral hazard(earlyretirementpolicies, healthinsurances(?))
andpublicfinances
WhilemoreEuropean stabilizationmechanismsdesirable, othermechanismsmaybeeasier
EUI not easy tobuildthereforeratherfornextcrisis
Investment fundandbetteruseofEU budgetmaybemorepracticable
Couldbea powerful signalofa further
federalisation
ofEurope andsolidarityifpoliticalconsensus
Couldbea strong mechanismtofundamentallyreformlabourmarkets
Key messages
 
Main possible reasons advanced:
1.Stabilisation: it could help stabilising output fluctuations 2.Solidarity: deepening the solidarity between EU peoples is an objective of the EU, as laid down in the EU Treaty 3.Convergence of labour market institutions: the large heterogeneity could hinder the efficient function of the single market. A European unemployment scheme may promote labour market harmonisation
 
How important are these reasons and what are the counterarguments and pitfalls?
Why a European unemployment scheme?

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