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131. Britain, Ireland and Schengen: Time for a smarter bargain on visas

Author:
Michael Emerson
Publication Date:
08-2011
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
For the present UK government, full accession to the Schengen area, a passport- free travel area covering most of Europe, is a red line that it will not cross. Ireland shares a common travel area and land border with the UK and is also bound by this decision. However, it is becoming increasingly clear that the UK, along with Ireland, is suffering serious economic and reputational costs as a result of its separate visa and border management policies.
Topic:
Economics, International Trade and Finance, Markets, and Regional Cooperation
Political Geography:
Britain, United Kingdom, Europe, and Ireland

132. State of the union Can the euro zone survive its debt crisis?

Publication Date:
04-2011
Content Type:
Working Paper
Abstract:
In the run-up to the global financial crisis, the euro area looked very much like a microcosm of the world economy. The region as a whole grew in line with its long-term trend, and its trade position with the outside world was broadly in balance. However, the euro area's aggregate position masked large variations across the member states. In some parts of the region (notably countries on the geographical periphery), demand grew consistently faster than output; in others (like Germany), the reverse was the case. Profligacy in the periphery was funded by thrift in the "core". This arrangement suited both sides.for a time at least. While countries in the periphery enjoyed debt-fuelled booms, countries such as Germany, where domestic demand was weak, could rely on exports to keep growing.
Topic:
Debt, International Trade and Finance, Markets, and Financial Crisis
Political Geography:
Europe and Germany

133. Partial sovereign bond insurance by the eurozone: A more efficient alternative to blue (Euro-)bonds

Author:
Hans-Joachim Dübel
Publication Date:
08-2011
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
'Blue' or Eurobonds guaranteed via joint and several liability by the eurozone member states have been proposed as an important tool to stabilise and structure the eurozone sovereign bond markets. But in this new Policy Brief, Hans-Joachim Dübel argues the case for a partial insurance of sovereign bonds by the European Stability Mechanism. Hans-Joachim Dübel is an independent financial sector consultant based in Berlin and founder of Finpolconsult.
Topic:
Economics, International Trade and Finance, Markets, Regional Cooperation, and Monetary Policy
Political Geography:
Europe and Berlin

134. Only a more active ECB can solve the euro crisis

Author:
Paul De Grauwe
Publication Date:
08-2011
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
The biggest threat for the eurozone is the contagion of the Greek sovereign debt crisis to the rest of the system. If the Greek crisis could be isolated, it would barely matter for the eurozone as a whole. After countless crisis meetings of the European Council, however, it has to be admitted that the European leaders have failed to isolate the Greek crisis and to stop the forces of contagion. The latest meeting of the heads of state or government of the euro area on July 21st is no exception.
Topic:
Debt, Markets, Regional Cooperation, and Financial Crisis
Political Geography:
Europe

135. Outward FDI from Germany and its policy context: update 2011

Author:
Thomas Jost
Publication Date:
09-2011
Content Type:
Working Paper
Institution:
Columbia Center on Sustainable Investment
Abstract:
In 2010, German companies strongly increased their investments in foreign affiliates, with outward foreign direct investment (OFDI) flows having reached their third highest value on record (US$ 105 billion). Flows were driven by rising exports and growing profits of the German corporate sector. In 2010, the German economy made a robust recovery from the worldwide economic and financial crisis and became a growth engine among European Union (EU) countries. A further increase of OFDI is expected in 2011, as German companies are seeking to strengthen their strategic position in their main markets, although the pre-crisis level of OFDI flows of US$ 171 billion in 2007 will be hard to achieve. The German Government has continued to support the internationalization process of the German corporate sector by expanding its network of bilateral investment treaties and providing financial support and information services.
Topic:
International Trade and Finance, Markets, and Foreign Direct Investment
Political Geography:
Europe, Germany, and Ethiopia

136. The new Dutch sandwich: The issue of treaty abuse

Author:
George Kahale, III
Publication Date:
10-2011
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Years ago, international tax lawyers introduced us to the term “Dutch sandwich.” The concept was to sandwich a Dutch company between an investor from country A and its investment in country B. The combination of the extensive network of Dutch tax treaties and investor-friendly domestic Dutch tax law meant that country A's investor could reduce withholding tax on dividends out of country B and perhaps eliminate capital gains tax altogether by structuring its investment through a Dutch company.
Topic:
Economics, International Trade and Finance, Markets, and Foreign Direct Investment
Political Geography:
Europe

137. Spain's Constitutional Reform: What is seen and not seen

Author:
José M. Abad and Javier Hernández Galante
Publication Date:
09-2011
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
On September 7th, five weeks after the European Central Bank (ECB) started buying Spanish bonds as part of its Securities Market Programme, and four weeks since Merkel and Sarkozy announced their proposal of writing debt limits into national laws, the Spanish Parliament has approved a constitutional reform that, by constraining the general government's spending and borrowing capacity, aims to mitigate concerns over public finances. This reform, the second since the current Constitution was enacted by referendum in 1978, has been made possible by an agreement between the ruling socialists (PSOE) and the main opposition party (conservative PP).
Topic:
Economics, Markets, and Labor Issues
Political Geography:
Europe and Spain

138. Not a Game, Speculation vs Food Security: Regulating financial markets to grow a better future

Author:
Marc-Olivier Herman, Ruth Kelly, and Robert Nash
Publication Date:
10-2011
Content Type:
Policy Brief
Institution:
Oxfam Publishing
Abstract:
Food prices are a matter of life and death to many in the developing world. Financial markets that should be helping food growers and processors to manage their risk and set prices have become a potential threat to global food security. Deregulated and secretive agricultural commodity derivatives markets have attracted huge sums of speculative money, and there is growing evidence that they deliver distorted and unpredictable food prices. Financial speculation can play an important role to help food producers and end users manage risks, but in light of the harm that excessive speculation may cause to millions, action is required now to address the problem. This briefing explains what has gone wrong with financial markets and what could be done to fix them.
Topic:
Security, Agriculture, International Trade and Finance, Markets, and Food
Political Geography:
Europe

139. Eurozone finally agrees a deal but uncertainties remain unresolved

Publication Date:
11-2011
Content Type:
Policy Brief
Institution:
Oxford Economics
Abstract:
After protracted negotiations, Eurozone leaders finally agreed on a new package of measures last week. The outline deal has a three-pronged approach aimed at tackling the main aspects of the crisis: reducing Greece's debt burden, avoiding a credit crunch by recapitalising European banks, and preventing contagion to other countries via a boost to the EFSF.
Topic:
Debt, Economics, Markets, Regional Cooperation, and Financial Crisis
Political Geography:
Europe and Greece

140. Reconsidering West African Migration: Changing focus from European immigration to intra-regional flows

Author:
Anne Sofie Westh Olsen
Publication Date:
10-2011
Content Type:
Working Paper
Institution:
Danish Institute for International Studies
Abstract:
Research on West African migration has tended to focus on specific 'crisis migration' issues, such as trafficking, international refugee flows or irregular migration to Europe. This reflects rather Eurocentric policy priorities, since these forms of West African migration are actually relatively small in comparison with intra-regional migration.
Topic:
Demographics, Markets, Migration, and Labor Issues
Political Geography:
Africa and Europe