Search

Begin New Search Content Type Policy Brief

2061. Was the ECB's Comprehensive Assessment up to standard?

Author:
Willem Pieter De Groen
Publication Date:
11-2014
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
The Comprehensive Assessment conducted by the European Central Bank (ECB) representsa considerable step forward in enhancing transparency ineuro-area banks' balance sheets. The most notable progress since the previous European stress test has been the hamonisation of the definition of non-performing loans and other concepts as well as uncovering hidden losses, which resulted in a €34 billion aggregate capital-chargenet of tax. Despite this tightening,most banks were able to meet the 5.5% common equity tier 1 (CET1) threshold applied in the test, whichsuggests that the large majority of the euro-area banks have improvedtheir financial position sufficiently to no longer constrainthem in financing the economy.Our own estimation based on the detailed results, however,provide a more nuanced picture, with a large numberof the banks still highly leveraged and in many cases unable to meet the regulatory capital requirementsthat will be introduced in the coming years underthe adverse stress test scenario.
Topic:
Debt, Economics, International Trade and Finance, and Global Recession
Political Geography:
Europe

2062. The EU's Enlargement Agenda — Credibility at stake?

Author:
Erwan Fouéré
Publication Date:
10-2014
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
It is a damning reflection of our times that one of the EU's most successful foreign policy achievements has never been under so much criticism. During the recent elections for the European Parliament, populist eurosceptic parties were in the forefront of those campaigning against the EU's enlargement agenda. Their attempts at equating further enlargement with the dangers of increased immigration from Turkey, the Western Balkans and even other EU member states were bolstered by the leaders of some long-standing member states, such as the UK, openly calling for restrictions on freedom of movement — one of the fundamental pillars of the EU.
Topic:
International Cooperation, Governance, and Reform
Political Geography:
Europe, Turkey, and Balkans

2063. Does ASEM work?

Author:
Jacques Pelkmans and Weinian Hu
Publication Date:
10-2014
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
This CEPS Policy Brief is based on a larger study for the EEAS and European Commission, written by the same authors in the run-up of the Milan ASEM summit of 16-17 October 2014. The main idea of the study is to assess whether ASEM works and how, by verifying the factual evidence in detail. After all, ASEM has no institutions, no budget and no treaty, whilst dialogues and a loose improvement over time in Asia-Europe relations refer to process much more than genuine 'results'. The stocktaking covers all ASEM activities since the 2006 Helsinki summit. Summit and foreign ministers' declarations and ASEM calendar of activities (and interviews) are used to trace ASEM activities in the three ASEM pillars (political, economic, and peoples-to-peoples/cultural). All the 'regular' ASEM meetings at ministerial and other levels (many of which are only known to relatively few) have been mapped. Also the ASEM working methods, based on the 2000AECF framework and many subsequent initiatives, have been scrutinised, including whether they are actually implemented or not or partially. Such methods refer to how to work together in areas of cooperation (beyond the typical ASEM dialogue), organisation, coordination and ASEM visibility.
Topic:
International Cooperation, Regional Cooperation, and Governance
Political Geography:
Europe and Singapore

2064. Russia's Punitive Trade Policy Measures towards Ukraine, Moldova and Georgia

Author:
Michael Emerson, Denis Cenusa, Tamara Kovziridse, and Veronika Movchan
Publication Date:
09-2014
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
While EU and US sanctions against Russia over its aggression in Ukraine, and Russia's counter-sanctions, are much discussed due to their evident political significance, less attention has been given to Russia's punitive sanctions against the three Eastern European states – Ukraine, Moldova and Georgia – that have signed with the EU Association Agreements (AA), which include Deep and Comprehensive Free Trade Area (DCFTA) provisions. This paper therefore documents these trade policy restrictions and embargoes imposed by Russia, and provides some first indications of their impact. The immediate impact on trade flows, especially for agri-food products, has been substantial, albeit with some leakage through Belarus. The main instrument for the Russian measures has been allegations of non-conformity with Russian technical standards, although the correlation of these allegations with movements in Russia's geopolitical postures makes it obvious that the Russian technical agencies are following political guidelines dressed up as scientific evidence. These measures also push the three states into diversifying their trade marketing efforts in favour of the EU and other world markets, with Georgia already having taken significant steps in this direction, since in its case the Russian sanctions date back to 2006. In the case of Ukraine, Russia's threat to cancel CIS free trade preferences infiltrated trilateral talks between the EU, Ukraine and Russia, leading on 12 September to their proposed postponement until the end of 2015 of the 'provisional' implementation of a large part of the AA/DCFTA. This was immediately followed on 16 September by ratification of the AA/DCFTA by both the Rada in Kyiv and the European Parliament, which will lead to its full and definitive entry into force when the 28 EU member states have also ratified it. However Putin followed the day after with a letter to Poroshenko making an abusive interpretation of the 12 September understanding.
Topic:
Economics, International Trade and Finance, Power Politics, and Sanctions
Political Geography:
Russia, Europe, Ukraine, Moldova, and Georgia

2065. Contesting Buddhist Narratives: Democratization, Nationalism, and Communal Violence in Myanmar

Author:
Matthew J. Walton and Susan Hayward.
Publication Date:
11-2014
Content Type:
Policy Brief
Institution:
East-West Center
Abstract:
For the past few years, Myanmar's political transition has been hampered by violence between Buddhists and Muslims. A nation with an ethnically Burman and religiously Buddhist majority, the population also comprises a large minority of Muslims and members of other religions, and includes many different ethnic groups. As such, Myanmar society is complex and innately plural.
Topic:
Political Violence, Ethnic Conflict, Religion, and Political Activism
Political Geography:
Burma and Myanmar

2066. The Asia-Pacific Cooperation Agenda: Moving from Regional Cooperation Toward Global Leadership,

Author:
Charles E. Morrison
Publication Date:
10-2014
Content Type:
Policy Brief
Institution:
East-West Center
Abstract:
In the past quarter-century Asia has seen vast changes, including increased economic growth, integration, and liberalization. The Asia Pacific Economic Cooperation (APEC) process, now marking its 25th anniversary, facilitated these changes through its institution of the first regular meetings of ministers and then leaders. But what role should APEC play in the future? With a continuing diffusion of power, what was once hailed as an imminent "Asian century" is much more likely to be a global one. This international system, however, will have a trans-Pacific core with much of the economic power and potential to provide global leadership for the further development of international norms, rules, and cooperation. Thus, we may be able to refer to an "Asia-Pacific century." Two questions arise: Is North America, with a relatively small share of global population and a declining share of global world product, still relevant? Will the nations on the two sides of the Pacific really be able to use their power effectively to assume global leadership? The answer to the first of these is "yes," and to the second, "it depends."
Topic:
Economics, International Cooperation, International Political Economy, and International Trade and Finance
Political Geography:
Asia

2067. Mali : dernière chance à Alger

Publication Date:
10-2014
Content Type:
Policy Brief
Institution:
International Crisis Group
Abstract:
Alors que le Nord du Mali connait un inquiétant regain de violence, les négociations de paix à Alger constituent une chance unique de sortie de crise. Mais après deux mois de discussions, la paix semble encore loin. Le gouvernement malien et les groupes armés engagés dans les négociations peinent à trouver un terrain d'entente. Des groupes influents et radicaux qui manquent à la table des négociations sont tentés de faire dérailler le processus par la violence. La résolution du conflit passe par l'articulation complexe d'intérêts divergents qui touchent à la sécurité du Sahara, à la nature de l'Etat malien et aux équilibres locaux entre des communautés divisées. Face aux affrontements armés, la tentation est grande d'aller vite et de signer un accord à minima garantissant la sécurité à court terme. La précipitation est mauvaise conseillère. Il faut se donner les moyens et le temps de construire les fondements d'une paix durable.
Topic:
Political Violence, Diplomacy, Treaties and Agreements, and Peacekeeping
Political Geography:
Africa

2068. La Tunisie des frontières (II) : terrorisme et polarisation régionale

Publication Date:
10-2014
Content Type:
Policy Brief
Institution:
International Crisis Group
Abstract:
Depuis le soulèvement populaire de décembre-janvier 2010-2011, la Tunisie surmonte avec succès ses crises politiques, mais le pays semble moins disposé à absorber le choc d'attaques jihadistes plus importantes. Malgré le dialogue national qui a fortement réduit les tensions et a fait débuter l'année 2014 sur une touche optimiste, l'inquiétude grandit de nouveau. Cette appréhension peut s'expliquer par la montée des violences à la frontière algérienne, le chaos libyen et l'avancée de l'islamisme radical au Moyen-Orient, mais également par le discours antiterroriste ambiant. Caisse de résonnance des conflits qui agitent la région, le pays a besoin d'aborder la question terroriste de manière sereine et dépolitisée, malgré les enjeuxinternationaux. La lutte contre le terrorisme et la lutte contre le crime organisé sont indissociables. Le gouvernement gagnerait ainsi à accompagner ses mesures sécuritaires par des mesures économiques et sociales destinées à ramener les populations frontalières dans le giron de l'Etat.
Topic:
Political Violence, Islam, Terrorism, and Counterinsurgency
Political Geography:
Arabia

2069. Pakistan's Resurgent Sectarian War

Author:
Arif Rafiq
Publication Date:
11-2014
Content Type:
Policy Brief
Institution:
United States Institute of Peace
Abstract:
Sectarian violence between Sunni Deobandi and Shia Muslims in Pakistan has escalated in recent years. Most of this violence is perpetrated by local networks, but the sectarian phenomenon also has important ties to regional security dynamics and transnational terrorist networks. Despite sporadic state crackdowns, Pakistan's leading Sunni Deobandi sectarian militant groups have been able to maintain a persistent presence thanks in part to reluctance among mainstream Pakistani military and political leaders to directly confront groups that are sometimes seen as serving utilitarian political interests. Despite this negligence, Sunni Deobandi militants have also established linkages with terrorist groups that target the Pakistani state, such as al-Qaeda and the Tehreek-e-Taliban Pakistan (TTP). Rising conflict in the greater Middle East over the past five years has strengthened the sectarian political narrative in Pakistan and emboldened sectarian militant networks on both sides of the conflict.
Topic:
Political Violence, Islam, Religion, Terrorism, Sectarianism, and Sectarian violence
Political Geography:
Pakistan

2070. How to Spur Afghan Reforms: The Limits and Benefits of Incentives

Author:
Trent Ruder
Publication Date:
11-2014
Content Type:
Policy Brief
Institution:
United States Institute of Peace
Abstract:
Donors have increasingly sought to condition assistance funds for Afghanistan, particularly as a result of inadequate reforms during the Karzai administration. Since its negotiation in 2012, the Tokyo Mutual Accountability Framework has been the basis of most donor incentive decisions on Afghanistan. Donors need to consider who benefits from incentives, how resources and requests align, Afghanistan's capacity to implement reform, and the consequences of success or failure. Donors should both temper their expectations and minimize the linkage between highly politicized issues and incentive programs. Incentive programming is not a magic bullet, but it can help shape dialogue with the new Afghan administration.
Topic:
Corruption, Foreign Aid, Fragile/Failed State, Governance, and Reform
Political Geography:
Afghanistan and Tokyo