Search

Begin New Search Political Geography Europe

3091. Balancing growth and stability in EU financial reform

Publication Date:
05-2011
Content Type:
Working Paper
Institution:
Oxford Economics
Abstract:
The financial crisis has forced a reappraisal of the regulatory architecture, globally and in the EU and its member states. Around the world, policymakers are proposing significant changes to rules governing the financial sector, with the goal of making the financial system more resilient. Given the large and visible costs of financial instability for Europe, it is natural for European policymakers to make the avoidance of financial crises a high priority. But it is also important to recognise that regulation carries a range of costs that can dilute the economic benefits of a competitive and dynamic financial services sector. The academic literature has robustly established that financial development is not only the consequence of economic growth but also a driver. If the EU is to achieve the ambitious goals for unleashing private enterprise and creating jobs set out within the Europe 2020 agenda, then it cannot afford to overlook the role of the financial system in fostering innovation and growth. As supervisory authorities consider a broad set of proposals to strengthen the regulatory infrastructure, a n important quest ion that arises is how to assess the aggregate impact of these various measures. Although each may look sensible in isolation, they could still impose a larger - than - expected burden on the financial system when take n in the aggregate. The focus of policy reforms should be on forcing financial institutions to internalise the social costs of their risk - taking decisions rather than suppressing financial innovation. Credible policies to allow the failure of financial institutions would encourage market monitoring of risk - taking, reducing the need for additional prudential regulation and minimising costs to the taxpayer in the event of bankruptcy. Policymakers should aim to put in place an objective, sustainable and flexible regulatory regime, as the design of the regulatory framework will play a significant role in the future development of both the financial industry and the wider economy. International consistency in the regulatory reform agenda is also important so as not to risk fragmentation of global capital markets, which bring significant economic benefits to companies and consumers alike. The economic and social purpose of financial markets is the efficient allocation of capital, and the regulatory agenda must be framed around this goal. At a time when the European economy is struggling to recover lost ground, changes to the regulatory regime should not unduly restrict the potential of the financial sector to contribute to the continents future prosperity.
Topic:
Development, Economics, Globalization, International Trade and Finance, and Financial Crisis
Political Geography:
Europe

3092. Decolonization by Europeanization? The Early EEC and the Transformation of French-African Relations

Author:
Martin Rempe
Publication Date:
05-2011
Content Type:
Working Paper
Institution:
The Kolleg-Forschergruppe (KFG)
Abstract:
“Françafrique”, “Francophonie”, “l'état franco-africain” and “Mafiafrique” – all these terms are commonly used if one comes to talk about French-African relations after the severing of colonial ties in 1960. Even though they bear slightly different meanings, they share the notion of a very close, stable, and continuous if not to say colonially-styled relationship. According to the relevant literature, the European Economic Community (EEC) acted thereby as a stabilizing instrument. Against this backdrop, the paper tries to present new perspectives on the complex relationship between the EEC, France and its former African colonies associated to the community since 1958. The paper explores to what extent France's belonging to the EEC triggered Europeanization processes that directly affected French-African relations and eventually acted in favor of decolonization of metropolitan France. I will argue that in the course of the 1960s, emulation of community procedures as well as supranational legal coercion to a certain extent transformed French development co-operation and trade relations with the Francophone African states and in the end fostered France's regional reconfiguration towards Europe.
Topic:
Development, Post Colonialism, and Foreign Aid
Political Geography:
Africa, Europe, and France

3093. Europeanization Subverted? The European Union's Promotion of Good Governance and the Fight against Corruption in the Southern Caucasus

Author:
Tanja A. Börzel and Yasemin Pamuk
Publication Date:
04-2011
Content Type:
Working Paper
Institution:
The Kolleg-Forschergruppe (KFG)
Abstract:
In order to foster peace, stability and prosperity in its near abroad, the European Union has invoked the European Neighbourhood Policy that seeks to transform the domestic structures of the Newly Independent States in the post-Soviet space thus building a “ring of friends” that share European norms and principles of democracy, rule of the law, market economy, and good governance. Empirical evidence, however, suggests that the EU's capacity to hit across its borders and to realize its reform agenda seems limited. Moreover, most neighborhood countries appear to be stuck in transition and suffer from serious problems of both weak state capacity and defect democracy. Hence, EU efforts may also bear the danger of unintended and negative effects on the domestic structures of states, as its policies and institutions do not only empower liberal reform coalitions, to the extent that they exist in the first place, but can also bolster the power of incumbent authoritarian and corrupt elites. This paper intends to capture this “dark side of Europeanization” (Schimmelfennig 2007). It thus conceptualizes ENP as a political opportunity structure that provides opportunities and constraints to both supporters and opponents of the European Union's reform agenda. Which of the two ultimately get empowered depends not only on the EU's capacity to push for reforms but also on the pull of domestic actors.
Topic:
Democratization, Regional Cooperation, and Hegemony
Political Geography:
Europe

3094. Divided we fail: Time for the EU to speak with one voice to Belarus

Author:
Anaïs Marin
Publication Date:
06-2011
Content Type:
Policy Brief
Institution:
Finnish Institute of International Affairs
Abstract:
The West has come to admit that the Belarusian regime is indifferent to incentives and sanctions alike. The crackdown on the opposition that has been ongoing since Alexander Lukashenka's last fraudulent re-election shows that Belarus is drifting ever further away from democratic values and the EU's “ring of friends”. Reversing this trend requires EU member states to acknowledge that they bear part of the responsibility for the failure of the engagement policy launched in October 2008.
Topic:
Conflict Resolution, Democratization, and Diplomacy
Political Geography:
Europe and Brussels

3095. Guardians of subsidiarity: National parliaments strive to control EU decision-making

Author:
Kaisa Korhonen
Publication Date:
05-2011
Content Type:
Policy Brief
Institution:
Finnish Institute of International Affairs
Abstract:
The Lisbon Treaty encourages national parliaments to jointly forge a new node in the EU institutional architecture. National parliaments are given the right to control certain aspects of EU decision-making without the involvement of member state governments. Most importantly, national parliaments share the responsibility for ensuring that the subsidiarity principle is respected in all legislative matters of the Union.
Topic:
Regional Cooperation, Treaties and Agreements, and Governance
Political Geography:
Europe

3096. Much ado about nothing: The EU's transport dialogue with Russia

Author:
Katri Pynnöniemi
Publication Date:
06-2011
Content Type:
Policy Brief
Institution:
Finnish Institute of International Affairs
Abstract:
Transport is one of those few topics where the EU and Russia seem to have come to an agreement. The common understanding is that further integration of the transport systems and the removal of bottle necks serves the interests of both parties in the face of the expected increase in traffic volumes.
Topic:
Democratization, Diplomacy, Regional Cooperation, and Foreign Direct Investment
Political Geography:
Russia and Europe

3097. EU's Rejection of Turkey: The Real Underlying Reason

Author:
Yalım Eralp
Publication Date:
04-2011
Content Type:
Policy Brief
Institution:
Global Political Trends Center
Abstract:
There are many negative elements in EU-Turkey relations. Some consider the difference in religion as the primary factor. The issue is deeper than that. It is cultural contradiction. When Europe says cultural diversity is richness, it tends to mean cultural integration.
Topic:
Conflict Resolution, Regional Cooperation, Religion, and Culture
Political Geography:
Europe and Turkey

3098. International Issues & Slovak Foreign Policy Affairs Contents

Publication Date:
01-2011
Content Type:
Journal Article
Journal:
International Issues: Slovak Foreign Policy Affairs
Institution:
Slovak Foreign Policy Association
Abstract:
The decade of 2000–2010 was the warmest decade in recent history. It was also a decade of climate extremes such as the 2003 heat wave in western Europe and 2010 heat wave in Russia, frequent major floods in Europe, Pakistan in 2010 or Australia in early 2011, devastating cyclones, or major cold snaps and snow blizzards as in the US, UK and China. Despite this reality, there persists a deep gap between the scientific evidence about the changing climate of the Earth, and political awareness about the reasons and consequences of global warming. Such a gap between physical reality and political thinking will be extremely costly. Recent scientific evidence suggests that measures considered to tackle global warming are gravely inadequate. It appears that the average global temperature by 2100 will increase by at least 3°C to 4°C. Such increase will have devastating effects on agricultural production and survival of hundreds of millions people. The purpose of this paper is to improve understanding of climate change science among policy makers and diplomats.
Political Geography:
Pakistan, Russia, United States, China, United Kingdom, Europe, and Australia

3099. Another Slowdown

Author:
John H. Makin
Publication Date:
06-2011
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Market conditions in the United States, Japan, China, and Europe portend a weakening global economy. While not dramatic in any one region save an earthquake-burdened Japan, these conditions could accumulate to create a problematic loss of momentum for global growth, especially compared to current upbeat consensus views for the second half of 2011.
Topic:
Economics, International Trade and Finance, and Global Recession
Political Geography:
United States, Japan, China, and Europe

3100. Palestinian Reconciliation: Plus ÇA Change...

Publication Date:
07-2011
Content Type:
Working Paper
Institution:
International Crisis Group
Abstract:
Hamas and Fatah surprised all with their announcement of a reconciliation accord. What had been delayed since Hamas took over Gaza in 2007 and Palestinian Authority (PA) President Abbas asked Salam Fayyad to form a government in the West Bank was done in Cairo in hours. Shock was matched by uncertainty over what had been agreed and the course it would take. Would the factions produce a national strategy and unify fractured institutions? Or would the agreement codify the status quo? Even some of the more pessimistic scenarios were optimistic. Reconciliation stumbled at its first hurdle, naming a prime minister – though that is not the only divisive issue. Neither side wants to admit failure, so the accord is more likely to be frozen than renounced, leaving the door slightly ajar for movement. Palestinian parties but also the U.S. and Europe need to recognise that reconciliation is necessary to both minimise the risk of Israeli-Palestinian violence and help produce a leader- ship able to reach and implement peace with Israel.
Topic:
Conflict Resolution, Treaties and Agreements, and Territorial Disputes
Political Geography:
United States, Europe, and Arab Countries