Joint research initiative
The European Research Centre for Economic and Financial Governance (EURO-CEFG), is a joint research initiative initiated by researchers from the Leiden University, Delft University of Technology and Erasmus University Rotterdam. It aims at building a trans-European network of high-quality researchers and societal stakeholders around the interdisciplinary theme of Economic and Financial Governance in the EU.
Understanding decisive processes
EURO-CEFG facilitates scientific cooperation of researchers and research groups with different disciplinary backgrounds and with expertise in the different areas linked to economic, monetary and financial (market) governance. The aim is to gain a holistic understanding of processes that have a decisive influence on economic and financial governance in the European Union and beyond, which form the key to devising a sustainable system for the future.
Virtually nobody has a comprehensive view of the situation. We aim to help bridge the communication gap, particularly between economists, legal specialists and politicians.
Fabian Amtenbrink, Scientific Director
'Research into a sustainable economic and financial system in Europe'
Need for interdisciplinary research
The global economic and financial crisis and the ensuing European financial and euro area sovereign debt crisis raise highly complex issues linked to law, economics, political and social science and even philosophy. But in practice, the contribution of fundamental and applied research until now is often limited. Proposed solutions are mostly based on mono-disciplinary research, disregarding important insights from other scientific disciplines, thereby disregarding that what may be sensible from an economic point of view may not be feasible from a legal or ethical perspective.
Towards sustainable public policies
Thus, for example, economic research focuses on the economic causes of economic and financial crisis and seeks solutions that are in line with contemporary economic thinking, whereas the constitutional legal and societal causes of the crisis and consequences of proposals remain underexposed. In a similar vein, legal research focuses on the constitutional legal implications of certain institutional arrangements, as well as procedural and formal enforcement mechanisms, more often than not disregarding insights from other social sciences, such as economics, political science and psychology. It is this narrow methodological basis in the context of developing and testing fundamental theories and principles to solution approaches that results in the implementation of fractional and often unsustainable public policies.
EURO-CEFG is one of the Leiden-Delft-Erasmus Centres: the multidisciplinary and inter-university theme-based centres that were launched in 2013 under the flag of the strategic alliance between the three universities. Through innovative and outstanding teaching and research, they seek to contribute towards understanding and solving the major and complex social issues of our time.
Watch the video made at the launch of the Leiden-Delft-Erasmus Centres (April 2013);