Research & Innovation - Participant Portal

Overcoming the Crisis: New Ideas, Strategies and Governance Structures for Europe

H2020-EURO-SOCIETY-2014Sub call of: H2020-EURO-2014-2015
Opening Date 11-12-2013 Deadline Date 03-06-2014 17:00:00 (Brussels local time)
Publication date 11-12-2013 Total Call Budget €36,000,000
Programme Horizon 2020
Status Closed Main Pillar Societal Challenges
OJ reference OJ C361 of 11 December 2013

Topic: Resilient and sustainable economic and monetary union in Europe EURO-1-2014

Specific challenge: Economic and monetary integration in Europe, underpinned by the creation of the euro, has changed the landscape of international monetary relations with far reaching impacts both for the EU and its external partners. However, the financial and economic crisis has demonstrated that this process is not complete and it still has a number of important shortcomings that undermine the stability of the European financial system and the European economy as a whole.

These deficiencies are related to the ineffective mechanisms of fiscal policy coordination and supervision, and the lack of a coherent regulatory framework for the financial sector, despite its growing impact on the real economy. With mounting public debt, the crisis has also highlighted the importance of sustainable fiscal revenues. Also, despite significant efforts over the years to increase economic convergence in the EU, substantial macroeconomic imbalances remained and were even exacerbated by the crisis. Furthermore, the Blueprint for a deep and genuine EMU underlined the need to progress towards developing some stabilisation tools and a fiscal capacity.

These imbalances, both globally, and within the EU, have also been often mentioned as one of the important factors at the roots of the crisis itself. Due to this, it is crucial for an effective crisis recovery and the long-term sustainability of the European economic and financial system that the economic and monetary integration process is completed, with effective mechanisms put in place to address all of these deficiencies at the same time, in a comprehensive way.

Scope:  The research to address this challenge should in particular focus on the following key dimensions (proposals do not need to cover all dimensions and may include additional aspects which are relevant to the specific challenge):

1)             Effective mechanisms of fiscal policy coordination in the EU

Research should explore the problem of fiscal sustainability in the EU, also in comparison with other major world economies, as well as investigate what degree of fiscal policy coordination at the EU level is needed to ensure long-term sustainability and the effective stabilisation of the economy, notably in case of asymmetric shocks and if the different mechanisms already put in place form a sufficient framework to achieve this. In this context, different potential models of a fiscal union for Europe should be explored and comprehensively assessed, including potential stabilising effects of different forms of shock-absorption mechanisms at the central level as outlined in the Van Rompuy Report, their institutional characteristics, political feasibility and socio-cultural impact as well as the potential to further enhance the economic stabilisation of the European economy[1]. Research should also investigate the practical aspects of fiscal policy coordination, fiscal rules and supervision in the EU, including the role and interplay of different national and European institutions as well as the political and cultural context of enforcing fiscal discipline, in order to identify potential loopholes that still need to be addressed.

2)             Fair and sustainable taxation

Research should make a comparative study of European and non-European taxation systems taking into account factors like, for example, objects of taxation, tax base, tax level, redistributive effects, complexity, control systems and legitimacy. The compatibility of the European tax systems and the broader impacts of the different tax regimes at the European level should be assessed, including the implications for economic development as well as widening socio-economic and gender inequalities. The analysis should also cover the potential of further steps of European tax harmonization including the perspective of true own resources for the EU budget. Due consideration should also be given to ethics, environmental and climatic sustainability, as well as values prevailing across the EU regarding fair taxation.

3)             The impact of macroeconomic and social imbalances on economic stability

Research should analyse the main features of macroeconomic, social and financial imbalances within and between the EU Member States and how they evolved throughout the history of European integration as well as what their implications are, in particular for long-term growth as well as economic and financial stability. A particular attention should be given to the analysis of spill over mechanisms from such imbalances from one Member State to another. It should also be investigated how to more effectively address macroeconomic and social imbalances in the EU and whether the current mechanisms, such as the Macroeconomic Imbalances Procedure and the Excessive Imbalance Procedure, provide an effective and robust framework to deal with this challenge.

4)             The global impacts of the crisis in Europe and the international monetary relations

Research will review the evolution of the global monetary system in the last decades, with particular emphasis on the consequences of the introduction of the euro. It should explore the impacts of the crisis on global power shifts, including the role of different currencies in international trade, capital flows and monetary reserves. The strategies of monetary authorities and their implications at the EU and world level should be analysed with respect to economic activities, including trade, employment, growth and financial flows. Research also needs to investigate the growing global interdependences of the financial and monetary systems and their implications for effective economic policies, including the rising challenges for global governance and international organisations. The activities should also consider different scenarios of the future evolution of international monetary relations and their implications for Europe.

The research is expected to comprehensively address one, or possibly a combination of, the above-mentioned dimensions. In so doing, proposals may also cover other issues relevant for building a more resilient and sustainable economic and monetary union in Europe. Proposals should in particular take stock of the relevant past and existing research projects funded at the EU level.

The Commission considers that proposals requesting a contribution from the EU of between EUR 1.5 and 2.5 million would allow this specific challenge to be addressed appropriately. Nonetheless, this does not preclude submission and selection of proposals requesting other amounts.

Expected impact: Research is expected to advance theoretical and practical debates on a comprehensive framework for a more resilient and sustainable economic and monetary union in Europe. It will provide a critical assessment of the different concepts about effective economic governance in the EU and their practical implications, as well as of the mechanisms already put in place. These activities will contribute to a better understanding of the challenges facing the EU governance system currently and in the future, from the economic, political and technical point of view, taking into account both internal and external challenges. In exploring different possible solutions and scenarios, projects are expected to develop a comprehensive and coherent vision on how to ensure the long-term sustainability and resilience of the European economic system. New concepts, methodologies and tools developed by research will support European decision makers and practitioners in the setting-up and implementation of a reinforced governance architecture in the EU.

Type of action: Research and innovation actions

[1] As reflected in the Blueprint for a deep and genuine EMU and by the Communication on strengthening the social dimension of the EMU.

Please read carefully all provisions below before the preparation of your application.

The budget breakdown for this call is given in the call conditions section of the work programme.

1. List of countries and applicable rules for funding: described in part A of the General Annexes of the General Work Programme.

2. Eligibility and admissibility conditions: described in part B and C of the General Annexes of the General Work Programme

3. Evaluation

3.1 Evaluation criteria and procedure, scoring and threshold: described in part H of the General Annexes of the General Work Programme, with the following exception:
For the criterion Impact, the following standard sub-criterion is not applicable:
• Strengthening the competitiveness and growth of companies by developing innovations that meet the needs of European and global markets; and by delivering such innovations to the markets

3.2 Guide to the submission and evaluation process

4. Proposal page limits and layout: Please refer to Part B of the standard proposal template.

5. Indicative timeline for evaluation and grant management:

Information on the outcome of one-stage evaluation: maximum 5 months from the final date for submission.
Signature of grant agreements: maximum 3 months from the date of informing successful applicants.

6. Provisions, proposal templates and evaluation forms for the type(s) of action(s) under this topic:

Research and Innovation Action

Specific provisions and funding rates
Standard proposal template (administrative forms and structure of technical annex)
Standard evaluation form
Annotated Model Grant Agreement

7. Additional provisions:
Horizon 2020 budget flexibility
Classified information
Technology readiness levels (TRL) – where a topic description refers to TRL, these definitions apply.
Financial support to Third Parties – where a topic description foresees financial support to Third Parties, these provisions apply.

8. Open access must be granted to all scientific publications resulting from Horizon 2020 actions, and proposals must refer to measures envisaged. Where relevant, proposals should also provide information on how the participants will manage the research data generated and/or collected during the project, such as details on what types of data the project will generate, whether and how this data will be exploited or made accessible for verification and re-use, and how it will be curated and preserved.

9. Frequently Asked Questions:


Additional documents

You can download the same documents as one zip file from the call page

  • Flash Call Info for EURO-SOCIETY-2014 en
  • Legal basis - Specific Programme H2020 en
  • WP H2020 - 1. Introduction en
  • Legal basis - Framework Programme H2020 en
  • Legal basis - Rules for Participation en
  • WP H2020 - 19. General Annexes en

No submission system is open for this topic.