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311. On the road to a true Economic and Monetary Union? The challenges of fiscal federalism and democratic legitimacy

Author:
Teija Tiilikainen
Publication Date:
05-2012
Content Type:
Policy Brief
Institution:
Finnish Institute of International Affairs
Abstract:
Lessons learned from the current economic and financial crisis pose great challenges for the EU concerning the future development of the EMU. Through the recent changes the limits of a mere coordination of economic policies have been reached and a debate about turning the system into a true Economic and Monetary Union must be launched. A further strengthening of the EU's power in economic and fiscal policies would require a clearer move in the direction of fiscal federalism, that is, a more balanced relationship between the Union's budget and those of the member states. It would also require the finalization of the Union's democratic system along the lines of a federal political order. The divided character of the currency union presents significant difficulties for its further deepening and democratization.
Topic:
Economics, Political Economy, Regional Cooperation, Monetary Policy, and Financial Crisis
Political Geography:
Europe

312. A rocky road towards Europe: The prospects for the EU's Eastern Partnership Association Agreements

Author:
Kristi Raik
Publication Date:
06-2012
Content Type:
Policy Brief
Institution:
Finnish Institute of International Affairs
Abstract:
The EU has a strategic goal to build political association and economic integration with the six countries included in its Eastern Partnership policy. To reach this goal, it has invented a new model of association agreement that includes deep and comprehensive free trade. At best, three out of six Eastern partners are likely to sign the agreements within the next couple of years.
Topic:
Democratization, Economics, and Regional Cooperation
Political Geography:
Europe

313. An Agenda for the European Council: Feasible steps to bring the eurozone back from the precipice

Author:
Stefano Micossi
Publication Date:
06-2012
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
Once again the European Council will meet in an emergency session at the end of June, with the eurozone economy in recession and actually plummeting in its Southern periphery. Further doubts are also growing on the sustainability of sovereign debts due to the vicious spiral of deteriorating bank balance sheets, ballooning potential liabilities from banking rescues and widening spreads on government borrowings. The sovereign debt crisis in the periphery has now turned into a fully fledged banking crisis that threatens to spread from Greece to Spain and tomorrow, who knows, to Italy, France and even Germany itself.
Topic:
Debt, Economics, Regional Cooperation, Financial Crisis, and Governance
Political Geography:
Europe, Greece, France, Germany, Spain, and Italy

314. 'Grexit': Who would pay for it?

Author:
Daniel Gros, Cinzia Alcidi, and Alessandro Giovannini
Publication Date:
05-2012
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
What would be the cost if Greece were to exit from the eurozone? This much-debated question cannot be answered with a single number. The consequences of Greece's exit would depend decisively on the exact circumstances of events in the country itself as well as the general state of financial markets in the eurozone.
Topic:
Debt, Markets, Regional Cooperation, Monetary Policy, and Financial Crisis
Political Geography:
Europe and Greece

315. A European Deposit Insurance and Resolution Fund

Author:
Daniel Gros and Dirk Schoenmaker
Publication Date:
06-2012
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
The eurozone is caught in a 'diabolical loop' in which weak domestic banking systems damage sovereign fiscal positions and conversely, in which risky sovereign positions disproportionately threaten domestic banking stability. A European-level banking system could go a long way towards breaking this unfortunate loop and stabilising the eurozone. This would require a European safety net for cross-border banks.
Topic:
Economics, Regional Cooperation, Monetary Policy, and Financial Crisis
Political Geography:
Europe

316. The Big Three in EU Foreign Policy

Author:
Stefan Lehne
Publication Date:
07-2012
Content Type:
Working Paper
Institution:
Carnegie Endowment for International Peace
Abstract:
To an outside observer, Europe acts as a bloc with all 27 member states discussing issues and unanimously making decisions on foreign policy. But behind the scenes lies a tacit agreement that the largest member states with the most resources take the lead. Three of those states are in a category of their own: France, Germany, and the United Kingdom.
Topic:
International Relations, Foreign Policy, and Regional Cooperation
Political Geography:
United Kingdom, Europe, and Germany

317. Death of an Institution. The end for Western European Union, a future for European defence?

Author:
Graham Messervy-Whiting and Alyson J. K. Bailes
Publication Date:
05-2011
Content Type:
Working Paper
Institution:
EGMONT - The Royal Institute for International Relations
Abstract:
On 31 March 2010 the ten Member States of Western European Union (WEU) announced that the last organs, staffs and activities of that institution would be laid to rest by 30 June 2011. Having resiled from the Modified Brussels Treaty (MBT) of 1954 which created WEU as a successor to the Western Union of 1948, these nations are now working to dispose of the staff, premises and archives at WEU's Brussels offices and its Parliamentary Assembly in Paris. Little public interest has been shown in these moves, perhaps because WEU's operational and political work had already been taken over by the European Union (EU), in the frame of its new European Security and Defence Policy (ESDP), at the end of 1999.
Topic:
Security, Defense Policy, Regional Cooperation, and Treaties and Agreements
Political Geography:
Europe

318. The Single Market in need of a strategic relaunch

Author:
Tinne Heremans
Publication Date:
01-2011
Content Type:
Working Paper
Institution:
EGMONT - The Royal Institute for International Relations
Abstract:
On the 27th of October 2010 the Commission finally published its long-awaited Communication “Towards a Single Market Act” with the ambitious objective of relaunching the Single Market. It is beyond doubt that the market integration project is indeed in need of a serious boost. On the one hand, the “acquis” should be buttressed more firmly against protectionist reactions, citizen distrust and integration lethargy more generally. On the other hand, the untapped growth potential – in domains suffering from persistent bottlenecks as well as in new sectors – needs to be better exploited. It will however be argued in this contribution that, in its present form, the Commission's “Draft Single Market Act” (Draft SMA) does not contain all the strategic building blocks needed to address the key challenge of reengaging the different actors in the market integration project and genuinely revamp the Single Market. Therefore, on the basis of an examination of the gaps and defaults in the Draft SMA's approach, and against the background of the preparatory documents presented by Mario Monti and the European Parliament, some suggestions for possible strategic improvements to be included in the final SMA will be made.
Topic:
Economics, Markets, Regional Cooperation, and Monetary Policy
Political Geography:
Europe

319. Decision-Making in Security and Defence Policy. Towards Supranational Intergovernmentalism?

Author:
Jolyon Howorth
Publication Date:
03-2011
Content Type:
Working Paper
Institution:
The Kolleg-Forschergruppe (KFG)
Abstract:
For scholars and practitioners of European politics alike, the distinction between supranationalism and intergovernmentalism has always been fundamental. This distinction has underpinned the various schools of European integration theory, just as it has remained crucial for European governments keen to demonstrate that the member states remain in charge of key policy areas. Nowhere is this considered to be more central than in the area of foreign and security policy, which has consciously been set within the rigid intergovernmental framework of Pillar Two of the Maastricht Treaty and, under the Lisbon Treaty, remains subject to the unanimity rule. And yet, scholarship on the major decision-making agencies of the foreign and security policy of the EU suggests that the distinction is not only blurred but increasingly meaningless. This paper demonstrates that, in virtually every case, decisions are shaped and even taken by small groups of relatively well-socialized officials in the key committees acting in a mode which is as close to supranational as it is to intergovernmental. The political control of foreign and security policy, which is considered sacrosanct by member state governments, is only rarely exercised by politicians at the level of the European Council or Council of Ministers.
Topic:
Security, Foreign Policy, Defense Policy, Regional Cooperation, and Treaties and Agreements
Political Geography:
Europe

320. The EU's Experience with Security Sector Governance

Author:
Louis-Alexandre Berg
Publication Date:
01-2011
Content Type:
Working Paper
Institution:
United States Institute of Peace
Abstract:
Civilian oversight ministries are essential to broader efforts to strengthen the performance and responsiveness of security and law enforcement forces. Ministries facilitate coordination among agencies, hold personnel accountable to law and policy, perform administrative functions, shield forces from political interference, and enable civilian oversight through the legislature, civil society, and other mechanisms. Failure to support these roles can undermine efforts to strengthen law enforcement and improve citizen safety in countries affected by conflict or instability. The European Union has extensive experience supporting oversight ministries, having prepared twenty-one ministries of interior to join the EU. The European Commission has assisted ministries in developing countries around the world, while the European Council has deployed civilian missions to crisis environments to establish security and the rule of law. Efforts to develop the laws, procedures, and organizational structures needed for effective oversight ministries face numerous challenges, from limited human capacity to political and organizational resistance, especially in countries transitioning from conflict or authoritarian rule.EU enlargement provided a unique incentive for countries to overcome obstacles to transforming their ministries and improving security sector governance. EU institutions helped translate this incentive into organizational changes by helping candidate countries define a clear structure and vision, deploying experienced experts from EU member states, and managing resistance through coordinated political engagement in support of clearly defined benchmarks. In crisis and stabilization countries, the EU has faced greater challenges. Without a strong external incentive, weak capacity and severe political tensions have undermined assistance efforts. The EU has been enhancing its capabilities for deploying skilled personnel to these environments and for leveraging member states' relationships with countries affected by conflict, to help them overcome political obstacles. Yet the EU has often struggled to achieve the coherence among member states and institutions necessary to support locally driven reforms. The United States can learn from the EU's successes and challenges by paying attention to the role of oversight ministries in the development of security and law enforcement forces overseas. To build its capacity to strengthen oversight ministries and other components of security sector governance, the United States should recruit personnel with broader sets of skills, improve coherence among agencies providing assistance, and deepen cooperation with the EU and other donor countries. Through collaboration in headquarters and in the field, the EU and the United States could complement each other's strengths and pursue common approaches to fostering institutional change in the security sector.
Topic:
Security, Regional Cooperation, and Law
Political Geography:
United States and Europe