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121. Defence Spending in Europe in Light of the Economic Crisis

Author:
Alessandro Marrone
Publication Date:
10-2012
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
The economic crisis has impacted deeply on defence spending in Europe. It has led to uncoordinated cuts to defence budgets at national level, but has also revived interest in bilateral and multilateral cooperation. Both the EU and NATO have made an effort to involve European countries in cooperative projects, under the banner s of “Pooling and Sharing” and “Smart Defence” respectively, with limited results. At the same time, the European Commission has adopted two directives regarding defence spending, and the European Defence Agency has been strengthened. While defence spending remains predominantly a national prerogative, European countries will soon face the choice of pooling certain capabilities at international level or losing them because of insufficient spending. In this light, Italy is rationalizing its defence budget, while preserving its commitments to international cooperation.
Topic:
Defense Policy, NATO, Economics, and Financial Crisis
Political Geography:
Europe

122. The G20 after Los Cabos: Illusions of Global Economic Governance

Author:
Gabriel Goodliffe and Stéphan Sberro
Publication Date:
12-2012
Content Type:
Journal Article
Journal:
The International Spectator
Institution:
Istituto Affari Internazionali
Abstract:
The failure of the Los Cabos summit to satisfactorily address the European sovereign debt crisis and ominous world economic outlook, let alone agree on concrete measures to improve the oversight and functioning of the global economy, appears to confirm the diminishing effectiveness and relevance of the G20 as an organ of international governance since its inception in December 2008. While few accomplishments were achieved in the area of global governance during the Mexican presidency, acute collective action problems, made worse by the present economic crisis, paralysed the G20 in the lead-up to and during the Los Cabos summit. These collective action problems and the ensuing failure of global governance are attributable to the absence of leadership evident at both the global and European levels, which in turn testifies to the excessive dispersion of state economic and political power within the international system.
Political Geography:
Europe

123. Policy Lessons from the Eurozone Crisis

Author:
Chiara Angeloni, Silvia Merler, and Guntram B. Wolff
Publication Date:
12-2012
Content Type:
Journal Article
Journal:
The International Spectator
Institution:
Istituto Affari Internazionali
Abstract:
The current European crisis has shed light on several weaknesses and the institutional incompleteness characterizing the euro area. The manifestation of Europe's fragility was preceded by a large build-up of debt in the private sector, associated with national current account divergences and the deterioration of competitiveness particularly of the euro periphery countries. With the economic situation deteriorating, private sector debt became less credible, contaminating banks' balance sheets and placing a heavy burden on governments. A sovereign-bank vicious circle emerged: on the one hand, with banking risk translating into higher sovereign risk because of the governments' guarantor role and, on the other hand, with the deterioration of government's creditworthiness affecting the banking systems through banks' sovereign bond holdings. In principle, this negative feedback can be stopped by breaking one of the channels of transmission. A banking union at the European level is proposed as one solution.
Topic:
Disaster Relief
Political Geography:
Europe

124. A Slow Fuse: Italy and the EU Debt Crisis

Author:
Jonathan Hopkin
Publication Date:
12-2012
Content Type:
Journal Article
Journal:
The International Spectator
Institution:
Istituto Affari Internazionali
Abstract:
Italy is firmly in the grip of an austerity programme mandated by the European Union institutions, and executed by an unelected technocrat. This state of affairs is at once the result of the acute and unexpected crisis of the financial and economic integration of the eurozone, and an expression of the failures of the Italian political class. Although the euro crisis has been mishandled by European elites, Italy's long-term economic decline, and the inability of Italian party politicians to generate a sustainable coalition to address Italy's economic problems, hinders an exit from the crisis.
Topic:
Financial Crisis
Political Geography:
Europe and Italy

125. The Greek Crisis and the Search for Political Leadership

Author:
Dimitrios Katsikas
Publication Date:
12-2012
Content Type:
Journal Article
Journal:
The International Spectator
Institution:
Istituto Affari Internazionali
Abstract:
Despite two bailout agreements of unprecedented size and the implementation of a harsh austerity programme, no solution to the Greek crisis is in sight. As a result, Greece continues to be a hotspot, sending sporadic tremors to a fragile eurozone. The outcome so far leaves no doubts about the grave mishandling of the crisis. The most important cause of this failure is the lack of political leadership at both the national and European levels. Accordingly, a solution to the Greek crisis will remain elusive unless Greek and Europeans politicians overcome the constraints of national political calculations and exercise leadership commensurate to the challenge of rescuing Greece and indeed the eurozone itself.
Political Geography:
Europe and Greece

126. Portugal and the Straitjacket of the European Financial Crisis

Author:
Paulo Gorja
Publication Date:
12-2012
Content Type:
Journal Article
Journal:
The International Spectator
Institution:
Istituto Affari Internazionali
Abstract:
The austerity program negotiated with the Troika (IMF-ECB-EC) and adopted by Portugal in 2011 is having a devastating impact on the Portuguese economy. Although the Portuguese government is clearly fulfilling the measures agreed with the Troika, the final outcome of the adjustment program is not entirely in its hands, but rather awaiting further EU decisions involving measures to stimulate economic growth, mutualisation of public debt and additional steps towards a federal Europe. As time goes by, the negative repercussions – in particular social and political instability, as well as the erosion of the Portuguese democratic regime – are inevitable if there is no light at the end of the tunnel.
Political Geography:
Europe and Portugal

127. Seeking CSDP Accountability Through Interparliamentary Scrutiny

Author:
Jan Wouters and Kolja Raube
Publication Date:
12-2012
Content Type:
Journal Article
Journal:
The International Spectator
Institution:
Istituto Affari Internazionali
Abstract:
The EU's Common Security and Defence Policy (CSDP) requires parliamentary accountability. At present, as CSDP-related decisions are increasingly taken in the framework of the UN or the EU, neither the European Parliament (EP) nor national parliaments are able to hold decision-makers accountable. Interparliamentary cooperation can provide added value in bringing about parliamentary scrutiny of CSDP. Nevertheless, despite an official agreement, the EP and national parliaments have different views on what such interparliamentary cooperation entails. There are five conditions – cooperation and complementarity among parliaments, conferential dialogues, coordinated agendas, and comprehensive and comparative scrutiny – that have to be fulfilled to create added value for interparliamentary cooperation on CSDP matters.
Political Geography:
Europe

128. The European Commission's Policy Towards the Southern Gas Corridor: Between National Interests and Economic Fundamentals

Author:
Nicolò Sartori
Publication Date:
01-2012
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
The European Union launched the ambitious Southern Gas Corridor initiative with the goal of enhancing the security of its energy supply. The corridor - a virtual transit route running from the gas-rich Caspian basin to the EU while bypassing Russian soil - is meant to increase diversification of the EU's supplier and transit countries. While various projects have been proposed to give life to the corridor, the European Commission has given particular support to the realisation of Nabucco, a 3,893km pipeline running from Turkey to the European gas hub of Baumgarten in Austria, via Bulgaria, Romania, and Hungary. The Commission's choice is, however, flawed in several respects, as it fails to take account of key factors, such as the diverging, and sometimes conflicting, interests of individual EU member states, the geopolitical challenges of the Caspian basin, and the commercial constraints on Nabucco. This short-sighted approach has hindered the efficient development of the Southern Gas Corridor and weakened the EU's energy policy.
Topic:
Security, Energy Policy, and Natural Resources
Political Geography:
Russia, Europe, Turkey, Bulgaria, Romania, Hungary, and Austria

129. Rising Tensions in the Eastern Mediterranean: Implications for Turkish Foreign Policy

Author:
Ebru Oğurlu
Publication Date:
03-2012
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
Over the last few years, the Eastern Mediterranean has been increasingly fraught with growing competition between regional players, most notably Turkey, Cyprus, and Israel, signalling an apparent return of power politics in regional relations. Of all actors involved, Turkey stands out for being both an ever more influential power and a source of serious concern to other countries in the region due to its greater assertiveness and perceived hegemonic ambitions. Against the backdrop of recent regional developments and their international implications, including the dispute over drilling rights off Cyprus' coasts, Turkey's image as a constructive and dialogue-oriented country, a critical achievement pursued by a generation of Turkish politicians, diplomats and officials, risks being replaced by one of an antagonistic/assertive power. Facing the first serious challenge to its claim to embody a benign model as a secular Muslim democracy and a responsible international actor, Turkey should not indulge in emotional reactions. It should opt instead for a more moderate and balanced approach based on the assumption that only cooperation and constructive dialogue, even with rival countries, can help it realize its ambition of being the regional pivot.
Topic:
Foreign Policy, Democratization, Development, Islam, and Power Politics
Political Geography:
United States, Europe, Middle East, Israel, Greece, Asia, Colombia, and Cyprus

130. The EU's Conditionality Policy: A New Strategy to Achieve Compliance

Author:
Fabienne Zwagemakers
Publication Date:
01-2012
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
Through the inclusion of human rights and democracy clauses in the trade and association agreements of its common external trade policy, the European Union seeks to promote and transmit the values of human rights, democracy, and the rule of law globally. However, trade partners from the developing world often feel that these clauses offend their national sovereignty, and sometimes resort to alternative agreements offered by countries notorious for cutting corners. This working paper offers an assessment of the motives for non-compliance and sketches out how the EU could engender compliance. The paper concludes that there is a pivotal role to be played by education, civil society, business, and political parties in the nexus between economic growth, democracy, and the respect for human rights. The EU must target these factors directly, as they largely determine the domestic enforcement of HR clauses. In addition, the EU should develop a human rights strategy coordinated with global, regional, and local actors.
Topic:
Democratization, Human Rights, International Trade and Finance, and Treaties and Agreements
Political Geography:
Europe, India, and Sri Lanka