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Begin New Search Publishing Institution Centre for European Policy Studies Author Stefano Micossi

11. The Taxation of Multinational Enterprises in the European Union

Author:
Stefano Micossi and Paola Parascandolo
Publication Date:
02-2010
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
As a rule, multinational enterprises (MNEs) are taxed separately by the countries in which they operate on the basis of the income produced in each jurisdiction ('source' taxation). To this end, they must keep separate accounts for business units in each country (“separate accounting”, SA) ascribing each item of expenditure and income to each business unit on the basis – by universally accepted convention – of 'arm's-length' pricing (ALP), that is, of comparable or estimated prices for similar market transactions between unrelated companies.
Topic:
Economics, Globalization, International Trade and Finance, Monetary Policy, and Financial Crisis
Political Geography:
Europe

12. A Renewed Political Deal for Sustainable Growth within the Eurozone and the EU: An Open Letter to the President of the European Council

Author:
Daniel Gros, Stefano Micossi, Richard Baldwin, Giuliano Amato, and Pier Carlo Padoan
Publication Date:
12-2010
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
Under current policies, the European Union will only be able to pull itself out of low growth and high unemployment very slowly – too slowly to exclude dangerous economic and political assaults on the Union's continuing cohesion and viability. What is needed is a substantial increase in the EU output growth rate, which has been persistently low for too long a time. With low growth, sovereign debt sustainability in a number of member states will remain uncertain, possibly leading to renewed strains in financial markets and rising spreads that will aggravate the costs of budgetary consolidation. The divergences in productivity and competitiveness and the current external imbalances they engendered can be unwound at an acceptable cost only if growth accelerates in the core and the periphery. On present trends, the adjustment burden might be unbearable for peripheral countries and generate strains that may eventually undermine the euro.
Topic:
Economics, Regional Cooperation, Monetary Policy, and Governance
Political Geography:
Europe

13. Democracy in the European Union

Author:
Stefano Micossi
Publication Date:
02-2008
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
Many observers take it for granted that the European Union suffers from a lack of democracy: in the dual sense that common policies have diverged from voters' preferences (output legitimacy) and that decision-making mechanisms appear to lack the basic requirements of transparency, accountability and democratic involvement (input legitimacy). Stefano Micossi, Director General of Assonime, argues in this paper that once the Union is recognised for what it is – an innovative polity, where power is shared by a large number of players with many participation and influence-wielding mechanisms, – it becomes apparent that on the whole it complies with democratic legitimisation standards no less than do member states, even if multiple, and potentially conflicting legitimisation channels and principles may confuse observers. The member states and EU citizens continue to turn to the Union to seek solutions to problems that cannot be solved nationally, and there is an extraordinary proliferation of subjects and channels providing participation in European debates and decisions, in new and ever-changing ways. Through this continuous adjustment process, the Union has designed new legitimisation solutions that may well represent the future of democracy in a world of diverse but increasingly interconnected communities.
Topic:
International Relations, Democratization, and Regional Cooperation
Political Geography:
Europe

14. A new budget for the European Union?

Author:
Stefano Micossi, Maria Teresa Salvemini, and Alfonso Iozzo
Publication Date:
05-2008
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
The present budget of the European Union has long ceased to represent European policy priorities; it is the result of decisions taken decades ago and subsequent incremental adjustments decided under the pressure of external events or for political expediency. Its increasing detachment from emerging needs and policy priorities undermines support for the Union among public opinion.
Topic:
Democratization, Economics, and Markets
Political Geography:
Europe

15. 'Outsourcing' de facto Statehood: Russia and the Secessionist Entities in Georgia and Moldova

Author:
Daniel Gros and Stefano Micossi
Publication Date:
12-2006
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
The European Union is suffering a deep crisis: disdain, disillusionment and distrust top the list of prevailing sentiments towards the European institutions, as was brought home dramatically by the failed referenda on the Constitutional Treaty in France and the Netherlands.
Topic:
International Relations
Political Geography:
Russia, Europe, Moldova, Middle East, France, Georgia, and Netherlands

16. Fixing the Services Directive

Author:
Stefano Micossi
Publication Date:
04-2006
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
In the spring of 2004, the European Commission approved a draft Directive on Services in the Internal Market and sent it to the Council and the European Parliament. The proposal is the cornerstone of the ailing Lisbon strategy to revive growth and jobs in the European Union: services account for 70% of GDP and employment in advanced countries, and their performance is a main determinant of overall productivity and employment growth. In the European Union, the markets for services are still organised along national lines, cross border trade remains relatively underdeveloped and competition is scarce. The productivity gap with the United States is largely explained by these obstacles.
Topic:
Economics, International Cooperation, and Regional Cooperation
Political Geography:
United States, Europe, and Lisbon