Insurance-type cooperation mechanisms under EU law

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  • dc.contributor.author Steinbach, Arminca
  • dc.date.accessioned 2018-09-25T10:01:49Z
  • dc.date.available 2018-09-25T10:01:49Z
  • dc.date.issued 2018-04
  • dc.description.abstract In the economic policy domain, calls for insurance-type cooperation within the European Monetary Union (EMU) have frequently been made. Insurance-type cooperation relates to the debate about macroeconomic stabilization tools helping to absorb asymmetric shocks within EMU. Adopting a legal perspective, this article aims explores the scope offered under the current EU treaties in establishing such cooperation mechanisms. Among the broad variety of policy proposals, we focus particularly on both a permanent EU unemployment scheme and a shock-based insurance. We identify the potential legal basis for these insurance schemes highlighting differences in legal feasibility given their specific design. We also discuss the endowment of insurance funds setting out four different funding modes under the EU treaties or on intergovernmental basis. We show that legal scope for insurance schemes is limited. Fully-fledged unemployment insurance schemes are likely to overstretch the boundaries of the EU treaties. More narrowly designed, however, such schemes are rather likely to be feasible if set up as shock-based mechanisms, where the gravity of the economic shocks is significant.ca
  • dc.description.sponsorship The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396.
  • dc.format.mimetype application/pdfca
  • dc.identifier.uri http://hdl.handle.net/10230/35493
  • dc.language.iso engca
  • dc.relation.ispartofseries ADEMU Working Paper Series;109
  • dc.relation.projectID info:eu-repo/grantAgreement/EC/H2020/649396
  • dc.rights This is an Open Access article distributed under the terms of the Creative Commons Attribution License Creative Commons Attribution 4.0 International, which permits unrestricted use, distribution and reproduction in any medium provided that the original work is properlyattributed.ca
  • dc.rights.accessRights info:eu-repo/semantics/openAccessca
  • dc.rights.uri https://creativecommons.org/licenses/by/4.0/ca
  • dc.title Insurance-type cooperation mechanisms under EU lawca
  • dc.type info:eu-repo/semantics/workingPaperca

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