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281. The French Presidency's European Pact on Immigration and Asylum: Intergovernmentalism vs Europeanisation? Security vs Rights?

Author:
Sergio Carrera and Elspeth Guild
Publication Date:
09-2008
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
well before the French Presidency took over the European Council in July 2008, it was well known that immigration was going to constitute one of its central priorities. The French enthusiasm coincided with an increasing interest by Barroso's Commission in this domain. The French government and the European Commission started to fine-tune their respective strategies and 'the way forward' through a series of informal meetings. This materialised in the presentation of two policy outputs: First, a Commission Communication on a Common Immigration Policy for Europe and another on a Policy Plan on Asylum; and second, various drafts of the French Presidency's European Pact on Immigration and Asylum, the latest of which appeared on September 3rd. This Policy Brief refers to all previous drafts offered up for public comment so far.
Topic:
Human Rights and Immigration
Political Geography:
Europe

282. Should central banks target stock prices?

Author:
Paul De Grauwe
Publication Date:
09-2008
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
The question of whether central banks should react to stock price developments has been hotly debated. This discussion has intensified since the eruption of the credit crisis. According to some analysts, including myself, the failure of the US Federal Reserve under Alan Greenspan to react to the bubbles in the stock and housing markets helps to explain the financial excesses and the subsequent crisis.
Topic:
Economics, International Trade and Finance, Markets, and Monetary Policy
Political Geography:
United States

283. Ten Issues and Recommendations for the European Parliament Elections on Freedom, Security and Justice

Author:
Sergio Carrera, Elspeth Guild, and Kees Groenendijk
Publication Date:
10-2008
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
The European Parliament (EP) elections will take place on 4-7 June 2009. The various political parties of the EU are now beginning to focus on their programmes for the upcoming campaign. Many areas of EU policy will be critical during these elections and the themes will vary substantially from one member state to another in an EU of 27 countries. Still, the issues that have become part of EU law over the past five years through the exercise of Treaty powers in the Area of Freedom, Security and Justice (AFSJ) will need to be addressed all across the Union. These policies lay at the heart of every person's interest and concern as they have deep implications for his or her degree of liberty and security.
Topic:
Security, Human Rights, and Governance
Political Geography:
Europe

284. The Demonstration Phase for Carbon Capture and Storage: The case for public support

Author:
Christian Egenhofer
Publication Date:
10-2008
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
Carbon capture and storage (CCS) is seen as a key technology, without which the achievement of EU and global climate change targets will be extremely difficult. In order to reach these targets, the EU aims to have CCS technology available on a commercial basis as of 2020, which adds a certain sense of urgency to the endeavour. To this end, in 2007, the European Council announced up to 12 large-scale CCS demonstration plants. No decision on possible public financial support has so far been taken.
Topic:
Climate Change and Energy Policy
Political Geography:
Europe

285. Recalibrating EU Policy towards the Western Balkans

Author:
Michael Emerson
Publication Date:
10-2008
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
The time is not only ripe but pressing for the EU and the states of the Western Balkans to recalibrate and reinforce the current pre-accession strategy. Trade policy should be moved beyond existing free trade commitments for all the Western Balkans to enter the customs union of the EU and Turkey. Eurozone doctrine should be adapted to realities. Rather than regarding the use of the euro by Montenegro and Kosovo as an unfortunate turn of events, the costs and benefits of unilateral adoption of the euro by not-yet member states of the region should be more openly appraised, and the option to 'euroise' recognised as a possibility. It is good that the EU has moved at the declaratory level toward s visa 'liberalisation', which means scrapping visas rather than just 'facilitation' measures. However the Commission has not yet published guidelines or timelines for this. The region should be put on track for access to the Structural Funds on terms and scales progressively approaching those from which new member states such as Bulgaria and Romania already benefit. The ratio of these aid receipts between the new member states and the Western Balkans is currently 4:1; the former are receiving more than they can handle efficiently, whereas the Western Balkans have huge unsatisfied needs. Overall the case is made for significant moves towards 'functional membership' of the whole of the region with the EU, which would be a highly useful advance, irrespective of how or when the EU overcomes its Lisbon Treaty hiatus.
Topic:
Economics and International Trade and Finance
Political Geography:
Europe, Turkey, Kosovo, Bulgaria, Balkans, Romania, and Lisbon

286. Ireland and the Lisbon Treaty: Quo Vadis?

Author:
John O'Brennan
Publication Date:
10-2008
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
The rejection of the Lisbon Treaty by the electorate on 12 June 2008 has presented the Irish government with the most serious crisis in external relations since the Second World War. This was the third such referendum on Europe held in Ireland since the millennium and the second plebiscite in three to result in a rejection of an EU Treaty following the failed Nice poll in 2001. There is no obvious solution to the dilemma the government faces and no obvious pathway to achieve ratification. There is however a clear consensus amongst the political parties that ratification constitutes both a clear political priority and a fundamental national interest. At the October European Council summit in Brussels, Taoiseach Brian Cowen promised to come back to the December meeting “with a view to our defining together the elements of a solution and a common path to follow”. But the external context is now clear – EU leaders indicated an unwillingness to re-negotiate any part of the Treaty: it will be up to Ireland to find an Irish solution to this European problem. Thus the opportunity cost of the No vote has become somewhat clearer: Ireland faces marginalisation and isolation in Europe if a solution to the Lisbon dilemma is not found. The domestic context is also somewhat clearer now that we have access to extensive data that sheds light on the reasons for the No vote in the 12 June poll. In assessing the options for ratification this paper draws upon that data, presented in among other sources, the post-referendum Eurobarometer survey and the government-commissioned Millward Brown IMS research findings.
Topic:
Government, International Organization, and Treaties and Agreements
Political Geography:
Europe, Lisbon, and Ireland

287. Climate Governance Post-2012, Options for EU Policy-Making

Publication Date:
11-2008
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
This brief focuses on three issues that are especially important in the long-term development of the climate regime: (a) the challenge of the fragmentation of negotiations and governance systems; (b) the challenge of steering and evaluating novel types of privatised and market-based governance mechanisms; and (c) the challenge of designing architectures for global adaptation governance. These three core issues of fragmentation, privatisation and adaptation can be related to the overarching need to define the architecture of the post-2012 regime – and of any subsequent regimes that may follow a Copenhagen agreement.
Topic:
International Relations, Climate Change, Energy Policy, Environment, Privatization, Treaties and Agreements, and Governance
Political Geography:
Europe

288. The Banking Crisis: Causes, Consequences and Remedies

Author:
Paul De Grauwe
Publication Date:
11-2008
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
The paradigm that financial markets are efficient has provided the intellectual backbone for the deregulation of the banking sector since the 1980s, allowing universal banks to be fully involved in financial markets, and investment banks to become involved in traditional banking. There is now overwhelming evidence that financial markets are not efficient. Bubbles and crashes are an endemic feature of financial markets in capitalist countries. Thus, as a result of deregulation, the balance sheets of universal banks became fully exposed to these bubbles and crashes, undermining the stability of the banking system. The Basel approach to stabilise the banking system has as an implicit assumption that financial markets are efficient, allowing us to model the risks universal banks take and to compute the required capital ratios that will minimise this risk. I argue that this approach is unworkable because the risks that matter for universal banks are tail risks, associated with bubbles and crashes. These cannot be quantified. As a result, there is only one way out, and that is to return to narrow banking, a model that emerged after the previous large-scale banking crisis of the 1930s but that was discarded during the 1980s and 1990s under the influence of the efficient market paradigm.
Topic:
Economics, Markets, and Financial Crisis
Political Geography:
Europe

289. On the way to Copenhagen via Poznań: Preliminary thinking about a post-2012 climate deal

Author:
Noriko Fujiwara
Publication Date:
11-2008
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
The annual climate change conference (COP14/CMP4) will take place in Poznań, 1–12 December 2008. This Policy Brief aims at providing a brief assessment of where we are on the road from Bali to Copenhagen, thinking ahead of Poznań in relation to the current negotiating environment and exploring the possible nature of an agreed outcome to be reached in Copenhagen at the end of 2009.
Topic:
Climate Change, Environment, and Treaties and Agreements
Political Geography:
Europe and Bali

290. The Trade and Climate Change, Joint Agenda

Author:
Thomas L Brewer
Publication Date:
06-2008
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
Climate change, international trade, investment and technology transfer are all issues that have intersected in diverse institutional contexts and at several levels of governmental activity to form a new joint agenda. The purpose of this paper is to advance understanding of this joint agenda by identifying the specific issues that have emerged, the policies that have been adopted, especially in the EU and US, and the options that are available for further policy-making.
Topic:
Climate Change, International Cooperation, International Political Economy, and International Trade and Finance
Political Geography:
United States and Europe