Bruegel is an independent and non-doctrinal think tank devoted to policy research on international economic issues, based in Brussels. It started operations in 2005 and has rapidly acquired reference status in European economic policy debates. Bruegel was ranked first in 2012 and second in 2013 among all international economic policy think tanks worldwide by the Think Tanks and Civil Societies Program at the University of Pennsylvania. Among all think tanks worldwide, it was ranked eighth in 2012 and sixth in 2013. Separately, Prospect Magazine named it European and global think tank of the year in 2011. Bruegel has a unique governance and funding model based on memberships from Member States of the European Union, international corporations, and other institutions.