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151. EU-Turkey Energy Cooperation: Challenges and Opportunities

Author:
Sohbet Karbuz
Publication Date:
11-2014
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
The aim of this paper is to analyze EU-Turkey relations from an energy perspective. Energy is of mutual strategic interest to Turkey and the EU, insofar as both face serious and multiple energy challenges. Both Turkey and the EU seek to bridge supply and demand, and to establish a more competitive, diverse, secure and sustainable energy system. Common challenges and complementary objectives offer an unparalleled opportunity for the EU and Turkey to intensify cooperation and deepen integration in this field. To that end, this paper discusses the growing relevance of energy in the EU-Turkey relationship, focusing on Turkey's increasing importance in enhancing EU energy security. It then examines how future energy challenges could be turned into opportunities. Turkey and the EU have a lot to gain from close cooperation and deeper integration in the field of energy. However, the full potential of such cooperation and integration can best met by opening the energy chapter in Turkey's accession negotiations.
Topic:
Energy Policy and Regional Cooperation
Political Geography:
Europe and Turkey

152. European Banking Union: An Immediate Tool for Euro Crisis Management and a Long-Term Project for the Single Market

Author:
Giulia Rosa Maria Cavallo
Publication Date:
10-2014
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
After the adoption of a single monetary policy which commits the European Central Bank to maintaining the euro's purchasing power and price stability in the Eurozone, the European Union is facing a new, but equally fundamental challenge: the implementation in a relatively short time of the so-called "Banking Union". Its purpose is twofold: (1) breaking the link between banking and sovereign risk, with the ultimate goal of achieving full protection of EU savers in the event of a crisis; and (2) ensuring uniformity of credit conditions - which are still too fragmented - within the European banking market, to ensure greater EU integration of the financial system. Starting from the Communication in which the European Commission stressed the need for a banking union, this paper intends to explore the complex process towards its establishment by looking at the EU institutional mechanisms and the legal aspects. In particular, the analysis will be based on two building blocks: (1) the Single Supervisory Mechanism, with a single supervisor at the heart of the banking union; and (2) the Single Resolution Mechanism as a new integrated resolution framework and a resolution fund to address the failure of banking institutions. The paper then assesses the next steps for a fully fledged banking union, necessary in order for this new instrument to lay the foundations for a genuine Economic and Monetary Union, thereby fostering financial and economic stability in the euro area and in the EU as a whole.
Topic:
Economics, Markets, Monetary Policy, and Financial Crisis
Political Geography:
Europe

153. Competitive Multipolarity in the Middle East

Author:
Kristina Kausch
Publication Date:
09-2014
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
The Middle Eastern and North African region is in flux, while attempts to identify a new dominant structural logic have been limited so far. For the time being, the new “order” appears to consist of the absence of any one clear-cut organising principle and in overlapping, dynamic, often contradictory geopolitical developments. Among many other features, the geopolitical equation in the Middle East is being altered by a number of larger structural shifts regarding the position and relative weight of specific actors. Notable instances include the relative loss of influence of the United states and Europe; the game-changing regional roles of Russia and China, respectively; the resurgence of the IranianSaudi rivalry; the emergence of a number of regional “swing states”; and the increasing role of non-state actors in shaping regional developments. the complexity of this outlook makes policy choices by regional and external actors ever more difficult.
Topic:
Non State Actors
Political Geography:
Russia, United States, Middle East, and North Africa

154. The Future of Multilateral Security Dialogue in the Mediterranean: Lessons Learnt, Opportunities and Choices

Author:
Eduard Soler i Lecha
Publication Date:
09-2014
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
The Mediterranean is currently facing a number of challenges, ranging from political instability and intra-state conflicts to economic and social disparities and uncontrolled pockets of criminality. Although the conceptualisation of the Mediterranean as a region is often disputed, this is a space where initiatives for dialogue, cooperation and integration have proliferated in the last two decades as an attempt to tackle some of those challenges either regionally or multilaterally in cooperation with external partners. This paper overviews the existing initiatives, analyses why some previous attempts have failed and examines the elements of the new context that could favour or hinder further attempts to revive regional dialogue and integration, by identifying potential goals and relevant actors to be involved.
Topic:
Security

155. Chinese Investments in Italy: Facing Risks and Grasping Opportunities

Author:
Marco Sanfilippo
Publication Date:
12-2014
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
This paper analyses foreign direct investment (FDI) activities of Chinese multinational enterprises (MNEs) in Italy. Chinese investments in Italy present features similar to those in other advanced countries, while also showing some country-specific features. Italy is considered an attractive destination for Chinese investors not only because of its large market and its strategic position as a gateway to the Mediterranean, but also because it is seen as a valuable source of strategic assets in both traditional and advanced industries. The analysis of the Italian case is supported by the presentation of a number of detailed case studies, which exemplify the strategies followed by Chinese companies in the country and help summarise the main implications of this phenomenon. Evidence presented in this paper gives rise to a number of suggestions for policy makers on how to maximise the benefits from rising flows of FDI from China and other emerging economies.
Political Geography:
China

156. India 2014: Return of the One-Party Dominant System

Author:
Neera Chandhoke
Publication Date:
06-2014
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
The current elections, which gave to the BJP a majority in Parliament, have brought back the one-party dominant system that was once used to describe the hegemony of the Congress party, and the lack of an opposition. The "new" one-party dominant system is however dramatically different from the original one. The BJP unlike the Congress is a cadre based party and subscribes to a distinct ideology. It is also headed by the powerful figure of Prime Minister Narendra Modi, whose image looms larger than the party and his colleagues. India will witness a qualitatively different style of governance in the next five years.
Topic:
Democratization, Power Politics, and Governance
Political Geography:
India and Southeast Asia

157. The Southern Gas Corridor: Europe's Lifeline?

Author:
David Koranyi
Publication Date:
04-2014
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
The Ukraine crisis brought European energy security and with it the Southern Gas Corridor back into the spotlight. The crisis is far from over, but it is already clear that both the scope and nature of Russia's relations with the European Union (EU) and the United States cannot remain unchanged. As the strategic context changes and Europe becomes more and more concerned about Russia's behaviour and reliability as an energy supplier, particularly for natural gas, the relative importance of alternative sources will grow further. Europe is in the midst of rethinking its entire energy and gas supply security strategy. The Southern Gas Corridor can and should be a critical component in this context, while its prospects should be assessed realistically. It is by no means a short-term solution, yet in the medium-term, the Corridor has the potential to become a major source of gas for Europe. The EU should deploy robust energy diplomacy as well as resources to speed up its development.
Political Geography:
Russia, United States, Europe, and Ukraine

158. Energy - A Geopolitical Game Changer?

Author:
Michael Leigh
Publication Date:
06-2014
Content Type:
Journal Article
Journal:
The International Spectator
Institution:
Istituto Affari Internazionali
Abstract:
Energy trade cannot overcome longstanding political conflicts. There are no 'peace pipelines' anywhere in the world. Rather peace is a condition for investment in pipelines and other forms of energy infrastructure. Where political breakthroughs have been achieved, however, energy trade can reinforce cooperation between states and contribute to regional stability. These considerations are particularly pertinent to the Cyprus settlement talks and Middle East Peace Process, against the background of energy discoveries in the Eastern Mediterranean.
Topic:
Politics
Political Geography:
Middle East

159. Can Gas Catalyse Peace in the Eastern Mediterranean?

Author:
Ayla Gurel and Laura Le Cornu
Publication Date:
06-2014
Content Type:
Journal Article
Journal:
The International Spectator
Institution:
Istituto Affari Internazionali
Abstract:
The economic rationale for energy collaboration between Turkey, Cyprus and Israel is compelling. Cyprus and Israel need commercially viable export routes for their gas while Turkey is eager to diversify and increase its gas supplies. Hydrocarbon resources could potentially be a catalyst for both bringing about a Cyprus settlement and a Turkey-Israel rapprochement. A trilateral cooperation scheme involving a Turkey-Israel pipeline and an LNG plant in Cyprus could offer strong commercial incentives to all parties. But it would require bold political vision on the part of the region's leaders, coupled with backing from influential external actors with an interest in reconciliation and stability in the Eastern Mediterranean.
Topic:
Economics
Political Geography:
Turkey, Israel, and Cyprus

160. An EU-South Mediterranean Energy Community: The Right Policy for the Right Region?

Author:
Simone Tholens
Publication Date:
06-2014
Content Type:
Journal Article
Journal:
The International Spectator
Institution:
Istituto Affari Internazionali
Abstract:
The European Commission has spelled out its policy ambition for EU energy cooperation with the southern neighbourhood with plans for the establishment of an 'Energy Community'. Its communications make clear that an Energy Community should be based on regulatory convergence with the EU acquis communautaire, much in the same vein as the existing institution carrying the same name; the Energy Community with Southeast Europe. It is puzzling that the Commission insists on repackaging this enlargement concept in a region with very different types of relationships vis-à-vis the EU, especially when considering the lukewarm position of key stakeholders in the field. According to them, any attempt to introduce a political integration model in this highly sensitive issue area in the politically fragmented MENA region might run the risk of hurting the incremental technical integration process that has slowly emerged over the past few years.
Political Geography:
Europe