The recent bank collapses and bailouts highlight the fragility of the banking system and our bank deposits. The digital euro is an opportunity to reconfigure our monetary system to serve the interests of people and society, by making money safer and more inclusive. However, the European Central Bank’s (ECB) current proposal for a digital euro falls short of this potential. The current plan relies heavily on private financial intermediaries and envisions putting important limitations on the use of digital euros, thereby impacting its capacity to be a universally accessible public good and risking undermining the uptake of the digital euro. By heeding to the bank lobby and baking their interests into the design of the digital euro, the ECB is missing an opportunity to develop an appealing and public digital alternative to private bank deposits. The digital euro must be developed with the aim of benefiting people and society over private interests, and these considerations should guide its design. In the short term, the digital euro should: 1. Be universally accessible. People should be able to access digital euros through a diverse range of intermediaries, which include non-profit and public entities. Implementing a tiered identification system for account-based digital euros, and introducing a value-based option, would ensure the availability of digital euros to the most vulnerable segments of society. 2. Be free of cost for users. Any future legislative framework on the digital euro should include a list of basic services that should be provided for free to users, such as opening and managing an account and the provision of a payment instrument (e.g. a card). 3. Offer a high level of privacy and data protection. Cash, which is fully anonymous, should be used as the baseline when developing the digital euro. A value-based option should be introduced alongside an account-based one, and it should be designed to be fully anonymous. For the account-based option, a ‘privacy threshold’ can ensure that users’ data for small transactions is protected. 4. Have a clear European Central Bank branding. Clear branding will help to differentiate public digital euros from private bank deposits. 5. Bring resilience to the payment system. By providing an offline value-based option, and by ensuring that the digital euro’s legal and technical core infrastructure is public and works independently of any private system, we can offer an alternative to existing payment rails and increase resiliency in case of outages. The digital euro is also an opportunity to improve financial stability by transforming the banking system, and helping central banks to more effectively carry out their monetary policy. The design of the digital euro should be flexible enough to allow for the achievement of these longterm goals, and more research should be conducted to explore how different features could help achieve them. For instance, a digital euro without any holding limit could reduce moral hazard in the banking sector, and the adjustment of interest rates on digital euro deposits and direct monetary transfers could improve the transmission of monetary policy.
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Niet iedereen wenst nog te praten over de economische meerwaarde van de euro. De opmerkingen hierover van Coen Teulings in een veelbsproken interview in de Telegraaf waren dan ook zeer welkom.
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Lawmakers as representatives of the people should resist the anti-competitive proposals of the banking sector and embrace a vision of the digital euro that serves the collective interests of Europeans, Dr Martijn van der Linden and Vicky Van Eyck write. The influence of the banking lobby on policymakers risks undermining the digital euro's potential. Lawmakers as representatives of the people should resist the anticompetitive proposals of the banking sector and embrace a vision of the digital euro that serves the collective interests of Europeans. This means that the digital euro must be attractive, accessible and beneficial to all. The deliberation process must be free from the disproportionate influence of an industry that has much to lose from a level playing field for payment services and financial intermediation.
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This paper reviews the impact of the Covid-19 crisis on the global travel industry, drawing on a survey of businesses in the youth travel sector. It reviews the current and likely future impact of the crisis on different sectors of youth travel, and assesses the prospects for recovery
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De fundering onder de euro is nog steeds veel te instabiel voor een onomkeerbaar project.
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Elk jaar wordt een afgelegen locatie, zoals een eiland, getransformeerd tot een internationale ontmoetingsplaats waar workshops over kunst, media, gaming, wetenschap, technologie en duurzame innovatie worden gegeven. De uitwisselingsweek is transdisciplinair en stimuleert dialoog en actieve interactie tussen studenten, docenten, gastartiesten en deelnemende bezoekers, wat uiteindelijk leidt tot een klein festival. De publicatie 'Crisis! Re/Constructing Europe' gaat over de Island CQ editie die plaatsvond in Hongarije van 1 tot 13 mei, 2013. Tijdens de voorbereidingen van deze editie werden de media en het politieke debat beheerst door de financiële crisis in Europa. Elk land heeft een andere geschiedenis en dus een unieke relatie met Europa. Dit bracht de vraag naar boven wat de crisis eigenlijk betekende voor de mensen in verschillende Europese landen, en hoe ieder daar op zijn eigen manier mee omging.
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Essay based on a Presentation to International Stakeholder Forum, Convened by the Board of Directors of the Fair Labor Association, Washington D.C. June 26, 2009. There is much concern about the current crisis. Indeed the fall in consumption in developed countries is steep, anything between 15 to 25% over the first months of 2009 in most countries. This is double the decline of sales in previous recessions. However to this cyclical crisis and concerns two new concerns are being added. The first new concern to fashion, mainly amongst retailers and brands, is related to their impact on manufacturing in developing countries and to the employment and social conditions of workers. The second concern new to fashion, which is broadly shared amongst industries, is that after the crisis more structural changes in consumption will happen.
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Dit proefschrift behandelt de vraag hoe maatschappelijke actoren (‘crisismakelaars’) een sluimerende crisis aan de orde stellen, en hoe, op grond van inzicht in dit soort processen, overheidscommunicatie kan bijdragen aan het eerder identificeren en beter interpreteren van een dergelijke crisis.
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De belangrijkste les van de huidige crisis is volgens Martien Visser dat een vrije energiemarkt alleen tot maatschappelijk aanvaardbare resultaten leidt wanneer er ruim voldoende aanbod is, ook bij ernstige tegenslagen. “Hier ligt een essentiële taak voor de overheid. We kunnen immers niet van marktpartijen verwachten dat ze investeren in back-up faciliteiten die zelden of nooit worden gebruikt.”
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