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2981. François Hollande's Presidency:A New Era in French Foreign Policy?

Author:
Jean-Pierre Darnis
Publication Date:
06-2012
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
François Hollande's election as president of the French republic seems to mark a political rupture, interrupting 17 years of right wing presidencies (under Jacques Chirac and Nicolas Sarkozy) and a decade of conservative government. Hollande claims that he will be a “normal” president, in contrast with Sarkozy's flamboyant style. This paper assesses whether Hollande's presidency truly represents a turning point in France's trajectory by gauging its impact on French foreign policy. The argument elaborated below is that French foreign policy is and will continue to be driven by strong continuities, although differences in style are likely to impinge upon France's role in the world and in the EU.
Topic:
International Relations, Foreign Policy, Democratization, and Politics
Political Geography:
Europe

2982. Raising Awareness Together: How Can the EU Engage with Civil Society to Promote Sustainable Lifestyles?

Author:
Ekaterina Vladimirova
Publication Date:
06-2012
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
Individual behaviour plays a key role in resolving the climate change problem. The main obstacle for such behavioural change is often poor public knowledge about the ethical dimension of climate change and about the practical solutions available to individuals in order to make informed choices. Promoting sustainable lifestyles should top the political agenda in Europe. In this light, this paper suggests how the EU could engage with civil society to promote sustainable lifestyles through joint media campaigns, by establishing local sustainability centres and by working together to change educational standards. This collaboration would benefit from knowledge and expertise exchange, lower transaction costs and, most importantly, it would increase public trust in the quest for sustainability.
Topic:
Civil Society, Climate Change, Education, Environment, and Mass Media
Political Geography:
Europe

2983. A Sovereign Wealth Fund to Lift Germany's Curse of Excess Savings

Author:
Daniel Gros and Thomas Mayer
Publication Date:
08-2012
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
For most of the time since the early 1950s, national savings in Germany have tended to exceed national investment, resulting in a current account surplus. Most of these excess savings have been intermediated by the domestic banking system, which has had difficulties investing these German surpluses abroad given that it is prohibited by law from taking any exchange rate risk. This tended to keep the surplus within limits most of the time (less than 1- 2% of GDP). With the advent of the euro, however, German surpluses could become much larger and seem now to have become structurally engrained at 6% of GDP, or over one-quarter of savings. Since the start of the euro crisis, German private savers have repatriated their investments – effectively unloading their exposure onto the public sector as German banks have deposited hundreds of billions of euro at the Bundesbank. These funds are being lent by the ECB to banks in the euro area periphery (at 75 bps) – ensuring effectively a negative real return.
Topic:
Economics, International Trade and Finance, Markets, and Sovereign Wealth Funds
Political Geography:
Europe and Germany

2984. Can Italy and Spain survive rates of 6-7%?

Author:
Daniel Gros
Publication Date:
07-2012
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
The sentiment that the euro is now in real danger is based in large part on the widespread conviction that interest rates of 6-7% are simply unsustainable for both Italy and Spain., After taking a closer look at the fundamentals, however, Daniel Gros concludes in this new Policy Brief that both countries should be able to live with this level of interest rates for quite some time, but only if they mobilize domestic savings, which remain strong in both countries. For Spain, some debt/equity swaps are also needed.
Topic:
Debt, Economics, Markets, and Financial Crisis
Political Geography:
Europe, Spain, and Italy

2985. Unholy compromise in the eurozone and how to right it

Author:
Stefano Micossi
Publication Date:
07-2012
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
Two years after the first Greek rescue in May 2010, crisis management in the eurozone has still failed to restore confidence. A vivid picture of the situation can be found in Figure 1: the constellation of spreads on ten-year sovereign debts over the Bund in the eurozone is wider than it was before monetary union, as though financial markets had already discounted its breakdown. Temporary respites, notably in the early part of 2012, have not interrupted the trend of increasing divergence that risks undermining the credibility of adjustment efforts under way.
Topic:
Debt, Economics, Markets, Monetary Policy, and Financial Crisis
Political Geography:
Europe

2986. Pre-empting Technical Barriers in the Single Market

Author:
Jacques Pelkmans and Anabela Correia de Brito
Publication Date:
07-2012
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
Effective enforcement and compliance with EU law is not just a legal necessity, it is also of economic interest since the potential of the Single Market will be fully exploited. Enforcement barriers generate unjustified costs and hindrances or uncertainty for cross-border business and might deprive consumers from receiving the full benefit of greater choice and/or cheaper offers.
Topic:
Economics, Markets, Monetary Policy, and Law
Political Geography:
Europe

2987. Central Banks in Times of Crisis: The FED vs. the ECB

Author:
Daniel Gros, Cinzia Alcidi, and Alessandro Giovannini
Publication Date:
07-2012
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
Different economic and financial structures require different crisis responses. Different crises also require different tools and resources. The first 'stage' of the financial crisis (2007-09) was similar on both sides of the Atlantic, and the response was also quite similar. The second stage of the crisis is unique to the euro area. Increasing financial disintegration within the region has forced the ECB to become the central counterparty for the entire cross-border banking market and to intervene in the sovereign bond market of some stressed countries. The actions undertaken by the European Central Bank (ECB), however, have not always represented the best response, in terms of effectiveness, consistency and transparency. This is especially true for the Securities Markets Programme (SMP): by de facto imposing its absolute seniority during the Greek PSI (private sector involvement), the ECB has probably killed its future effectiveness.
Topic:
Debt, Economics, International Trade and Finance, Markets, Monetary Policy, and Financial Crisis
Political Geography:
Europe

2988. Arab Awakening: Are the US and EU Missing the Challenge?

Author:
Rosa Balfour and Danya Greenfield
Publication Date:
06-2012
Content Type:
Working Paper
Institution:
Atlantic Council
Abstract:
The 2011 wave of uprisings throughout the Middle East and North Africa has prompted policymakers to rethink their approach and bring outdated policies up to speed with a rapidly changing region. To respond to short-term, immediate needs, the United States and EU have made pledges of financial assistance and political support for the Arab countries in transition to stem economic collapse, capitalize on democratic openings and opportunities for growth, and provide incentives to guard against backsliding on reforms.
Topic:
Foreign Policy and Social Movement
Political Geography:
United States, Europe, Middle East, Arabia, and North Africa

2989. Managing the Global Response to Maritime Piracy

Publication Date:
10-2012
Content Type:
Working Paper
Institution:
Atlantic Council
Abstract:
The Atlantic Council promotes constructive US leadership and engagement in international affairs based on the central role of the Atlantic community in meeting the international challenges of the 21st century. The Council embodies a nonpartisan network of leaders who aim to bring ideas to power and to give power to ideas by stimulating dialogue and discussion about critical international issues with a view to enriching public debate and promoting consensus on appropriate responses in the Administration, the Congress, the corporate and nonprofit sectors and the media in the United States and among leaders in Europe, Asia, Africa, and the Americas. Through its diverse networks, the Council builds broad constituencies to support constructive US leadership and policies. Its program offices publish informational analyses, convene conferences among current and/or future leaders, and contribute to the public debate in order to integrate the views of knowledgeable individuals from a wide variety of backgrounds, interests and experiences.
Topic:
Security, Defense Policy, Economics, Military Strategy, and Maritime Commerce
Political Geography:
Africa, United States, Europe, Asia, and Atlantic Ocean

2990. Envisioning 2030: US Strategy for a Post-Western World

Author:
Robert A. Manning
Publication Date:
12-2012
Content Type:
Working Paper
Institution:
Atlantic Council
Abstract:
The National Intelligence Council in its new report, Global Trends 2030: Alternative Worlds, argues that the historic moment the Obama Administration now confronts “recalls past transition points–such as 1815, 1919, 1945, and 1989–when the path forward was not clear-cut and the world faced the possibility of different global futures.”
Topic:
Foreign Policy, Economics, Globalization, Politics, and Hegemony
Political Geography:
United States, Europe, and Atlantic Ocean