Academic and advisory

A new governance for the European Union and the euro: democracy and justice, Miguel Poiares Maduro, RSCAS Policy Papers, 2012/11, October 2012.

Innovative ways out of the crisis: can gold be used as collateral by EU Member States?

This memorandum written by Professor Smits explores the legal restrictions applying to proposed schemes of gold-backed bonds issuance by Member States. This paper also explores the use of gold-backed bonds in case of the issue of ‘stability bonds’ or ‘Eurobonds’, i.e. public debt instruments issued collectively by the euro area Member States, and proposes language for treaty change to give a solid legal basis for the use of gold in public debt issuance.


Completing the Euro - A road map towards fiscal union in Europe

Report of the “Tommaso Padoa-Schioppa Group”, Notre Europe, June 2012

(This report is available in French and English)


The State of Europe: Escaping the Doldrums, 11 October 2012


Project Europe 2030 - Challenges and Opportunities

A report to the European Council by the Reflection Group on the Future of the EU 2030, May 2010
(A report to the European Council from a reflection group whose members include former Competition Commissioner and current Italian prime Minister Mario Monti, architect Rem Koolhaas, and co-founder of Solidarność (Solidarity, the Polish trade union), Nobel Peace Prize laureate and former Polish President Lech Wałęsa)