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331. Economic Policy Coordination in EMU: What Role for the SGP?

Author:
Jørgen Mortensen
Publication Date:
06-2004
Content Type:
Working Paper
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
The present paper discusses the implications of the recent institutional crisis in the EU provoked by the failure of the Economic and Financial Affairs Council (ECOFIN) to impose the sanction on Germany and France provided for in the Stability and Growth Pact, along with Article 104 and the associated protocol of the Maastricht Treaty. The paper situates the debate concerning the application of the Stability and Growth Pact (SGP) in a broader evolution of the struggle between two schools of thought concerning macroeconomic policy–making in the European Union: the school calling for a strengthening of competences at the EU level (federal economic government) and the school arguing for preserving national competences for budgetary policy even in the face of the transfer of competence for monetary policy to the European Central Bank (ECB). The paper argues that the SGP represents an acceptable comprise between the two views of the schools in so far as it establishes rules to be respected without actually transferring competence to the Council in the field of budgetary policy. Consequently, the SGP has not and does not add to the 'democratic deficit' within the EU institutional framework. The paper argues, nevertheless, that the excessive deficit procedure (EDP) puts too strong an emphasis on the government budget deficit and suggests that emphasis on the sustainable level of public debt would ensure a stronger basis for assessing whether a given budget deficit may be considered excessive or not.
Topic:
Defense Policy, Economics, and Treaties and Agreements
Political Geography:
Europe, France, and Germany

332. Beyond Kyoto: Real Solutions to Greenhouse Emissions from Developing Countries

Author:
Roger Bate and David Montgomery
Publication Date:
07-2004
Content Type:
Working Paper
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Whether the Kyoto Protocol is ever ratified is fast becoming irrelevant. Many of the European nations that ratified the convention are failing to reach their targets, while developing countries, not required to comply with Kyoto, claim they will never participate in targets and timetables, as it would retard their economic growth. Given that developing countries are likely to emit well over half of future greenhouse gases (GHGs), a more promising strategy would be to devise an approach that limits emissions while helping development.
Topic:
Economics, Environment, Treaties and Agreements, and Third World
Political Geography:
Europe

333. Ethiopia and Eritrea: War or Peace?

Publication Date:
09-2003
Content Type:
Working Paper
Institution:
International Crisis Group
Abstract:
The next few weeks will go far to determining whether Ethiopia and Eritrea resume a path toward war - which took some 100,000 lives between 1998 and 2000 - or solidify their peace agreement. Ethiopia must decide whether to allow demarcation of the border to begin in October 2003 even though the international Boundary Commission set up under the Algiers agreement that ended the fighting has ruled that the town of Badme - the original flashpoint of the war - is on the Eritrean side. The outcome will have profound implications for both countries and the entire Horn of Africa, as well as for international law and the sanctity of binding peace agreements and arbitration processes. The international community, particularly the U.S., the African Union (AU), and the European Union (EU), all of which played major roles in brokering the Algiers agreement, need to engage urgently to help Ethiopia move the demarcation forward and to assist both parties to devise a package of measures that can reduce the humanitarian costs of border adjustments and otherwise make implementation of the demarcation more politically palatable.
Topic:
Conflict Resolution, International Cooperation, Treaties and Agreements, United Nations, and War
Political Geography:
Africa, Europe, North Africa, and Ethiopia

334. EU Emissions Trading: Challenges and Implications of National Implementation

Author:
Jacqueline Karas and Fiona Mullins
Publication Date:
11-2003
Content Type:
Working Paper
Institution:
Chatham House
Abstract:
Emissions trading is central to the European Union's (EU) strategy to meet its climate change commitments under the Kyoto Protocol. However, implementing the EU Directive on emissions trading ('the Directive') is proving extremely challenging for the governments involved. In particular, governments have to prepare National Allocation Plans (NAPs) for distributing emissions allowances to industry within a very tight timeframe. More than 12,000 industrial installations across the EU and accession countries will participate in the trading system.
Topic:
Climate Change, Markets, and Treaties and Agreements
Political Geography:
Europe

335. The Dog that Would Never Bite? The Past and Future of the Stability and Growth Pact

Author:
Martin Heipertz and Amy Verdun
Publication Date:
11-2003
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
This paper analyses the underlying reasons for the creation of the Stability and Growth Pact (SGP) and its subsequent development in recent years. The paper examines the economic and political factors behind it, including the role of economic ideas, experts, politicians, institutional arrangements in the Maastricht Treaty, domestic politics, and the exceptional position of Germany in the realm of monetary integration in the EU. It concludes that a set of commonly held beliefs together with a corresponding power-political constellation explain the creation of the SGP.
Topic:
International Political Economy, International Trade and Finance, and Treaties and Agreements
Political Geography:
Europe and Germany

336. Summit with Substance: Creating Payoffs in an Unequal Partnership

Author:
Andrew Kuchins
Publication Date:
05-2002
Content Type:
Policy Brief
Institution:
Carnegie Endowment for International Peace
Abstract:
U.S. president George W. Bush and Russian president Vladimir Putin have an important opportunity at their upcoming meeting to reach key agreements, remove major irritants in U.S.–Russian relations, and initiate a genuine partnership less burdened by Cold War legacies. In Europe last summer and in the United States last November, the two leaders established personal chemistry and trust—but the meetings lacked substance. Although Putin's leadership position will not be made or broken on his foreign policies, this time it will be important for his pro-Western orientation to produce a concrete payoff for Russia. As for President Bush, if the summit fails to produce results, then his vaunted Russia policy will be seen to be drifting. Thus both men require real outcomes such as a signed, legally binding nuclear arms reduction agreement and a new institutional relationship with the North Atlantic Treaty Organization (NATO). Perhaps just as important, however, Putin and Bush each must explain to his own country why this partnership is important and what are its key elements.
Topic:
Diplomacy, Nuclear Weapons, and Treaties and Agreements
Political Geography:
Russia, United States, Europe, North Atlantic, and Asia

337. Structure as Process:The Regularized Intergovernmentalism of Franco-German Bilateralism

Author:
Ulrich Krotz
Publication Date:
10-2002
Content Type:
Working Paper
Institution:
Minda de Gunzburg Center for European Studies, Harvard University
Abstract:
This article systematically scrutinizes the intergovernmental and administrative aspects of Franco-German relations with the 1963 Elysée Treaty at their core. This treaty, together with its various additions and extensions, has defined the basic processes of bilateral interaction between the French and German states. Recurrent tension in Franco-German relations notwithstanding, many observers and participants have viewed France and Germany to be connected particularly closely since the 1960s. This article explores key elements of what it is that links France and Germany. Thereby it clarifies the concept of regularized inter governmentalism, suggests viewing this specific set of international practices from a social-structural perspective, and evaluates the effects and limits of such regularized procedures. Its findings suggest that bilateral structures have complemented and undergirded a broadly multilateral post-World War II world and are likely to continue to do so.
Topic:
International Relations, Government, and Treaties and Agreements
Political Geography:
Europe and Germany

338. Social Content of the International Sphere: Symbols and Meaning in Franco-German Relations

Author:
Ulrich Krotz
Publication Date:
08-2002
Content Type:
Working Paper
Institution:
Minda de Gunzburg Center for European Studies, Harvard University
Abstract:
“The Franco-German friendship is rich in memories and gestures that are at once important and symbolic, and that characterize the exceptional nature of the relationship between our two countries,” reflects former French economics minister and European Commission President Jacques Delors. Such symbolic acts and joint memories are not primarily about cooperation in specific instances. Rather, more generally, they denote what it means to act together. They lend significance to a relationship; they signify what is “at stake,” or what it is “all about.” They are about a deeper and more general social purpose underlying specific instances of cooperation. They are about the value and intrinsic importance that social relations incorporate. Symbols contribute to the institutionalization of social meaning and social purpose in dealing with one another. In this paper I clarify the concept of “predominantly symbolic acts and practices among states,” systematically explore such acts for the bilateral Franco-German relationship between the late 1950s and the mid-1990s, and scrutinize the specific meaning and effects that these practices have helped to generate and perpetuate.
Topic:
International Relations, Government, and Treaties and Agreements
Political Geography:
Europe and Germany

339. European Monetary Union: between the stakeholder and the stockholder models of capitalism

Author:
Carlos A. Rozo
Publication Date:
05-2002
Content Type:
Working Paper
Institution:
Minda de Gunzburg Center for European Studies, Harvard University
Abstract:
From the mid-1980s on a new attitude towards self-determination appeared in Western European integration. With the Maastricht Treaty of 1992 and, later, with the Amsterdam Treaty of 1997 the member countries of the European Community manifested their determination to be active players in the new international order. Accepting and instituting the single market and monetary union constituted, however, a challenge of compatibility between the traditional model of welfare European capitalism and the impositions coming from globalization under the neo-liberal model of Anglo-Saxon capitalism. This issue is examined here under two perspectives. The first reviews the implications which globalization has had on the European model of capitalism and the second the complications for monetary management as Europe moves from a nationally regulated to a union regulated financial structure.
Topic:
International Relations, Economics, and Treaties and Agreements
Political Geography:
Europe

340. The Global Nuclear Balance: A Quantitative and Arms Control Analysis

Author:
Anthony H. Cordesman
Publication Date:
02-2002
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies (CSIS)
Abstract:
Russia retains a significant strategic nuclear force capability, despite the decline in overall force size since the dissolution of the Soviet Union, and despite apparent defense budgetary shortfalls and system aging. Russia also inherited sizeable biological and chemical warfare establishments from the FSU, and some components of these programs remain largely intact. Russian entities have exported various nuclear and ballistic missile technologies to states of proliferation concern, and Russia also remains a source for offensive biological and chemical warfare technologies and expertise.
Topic:
Nuclear Weapons and Treaties and Agreements
Political Geography:
Russia, United States, China, Europe, Middle East, and Asia