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  • Author: Clara Portela
  • Publication Date: 03-2014
  • Content Type: Working Paper
  • Institution: Centre for European Policy Studies
  • Abstract: This study analyses the use by the European Union of the novel concept of 'targeted sanctions' in the framework of its Common Foreign and Security Policy. It examines two sets of sanctions regimes featuring different degrees of efficacy: in Myanmar and Zimbabwe, the EU wielded measures in support of human rights and democracy objectives in the absence of a United Nations mandate, while it supplemented UN sanctions to stop nuclear proliferation in Iran and North Korea. The study highlights a number of facilitators of, or hindrances to, the efficacy of sanctions, such as the degree of support by regional powers or the presence of UN legitimation. It concludes that the EU sanctions regimes could be optimised by using more robust measures, designing them on the basis of ex ante assessments, enabling faster upgrades, monitoring their impact and adjusting them regularly and improving outreach efforts.
  • Topic: Foreign Policy, Diplomacy, Economics, Regional Cooperation, Sanctions
  • Political Geography: United States, Europe, United Nations, Zimbabwe
  • Author: Viral V. Acharya, Sascha Steffen
  • Publication Date: 01-2014
  • Content Type: Policy Brief
  • Institution: Centre for European Policy Studies
  • Abstract: The eurozone is mired in a recession. In 2013, the GDP of all 17 eurozone countries fell by 0.5% and the outlook for 2014 shows considerable risks across the region. To stabilise the common currency area and its (partly insolvent) financial system, a eurozone banking union is being established. An important part of the banking union is the Single Supervisory Mechanism (SSM), which will transfer the oversight of Europe's largest banks to the European Central Bank (ECB). Before the ECB takes over this responsibility, it plans to conduct an Asset Quality Review (AQR) in 2014, which will identify the capital shortfalls of these banks.
  • Topic: Economics, International Trade and Finance, Regional Cooperation, Monetary Policy
  • Political Geography: Europe
  • Author: Steven Blockmans
  • Publication Date: 03-2014
  • Content Type: Policy Brief
  • Institution: Centre for European Policy Studies
  • Abstract: Concerns about the deterioration of democracy in Turkey are not new: the trials over the 2003 „ Sledgehammer ‟ alleged coup plan (2010-12) and over the ‟ Ergenekon ‟ secret organisation (2008-13) broke the military‟s influence over politics, but were widely criticised because of their reliance on secret witnesses and disputes over evidence. Ironically, their outcome has recently been challenged by Prime Minister Erdoğan himself, who has disowned the trials now that the judiciary has the AK Party in its sights. International concern was also stirred by the violent crackdown on the countrywide protests of May/June 2013. Unrest then was triggered by the planned redevelopment of Istanbul‟s Gezi Park in May 2013, but developed into a wider movement critical of government corruption, increasing restrictions on freedom of speech and concerns about the erosion of secularism. Protests simmered on through September, winding down in autumn and winter only to reignite in March of this year.
  • Topic: Government, International Cooperation, Politics, Regional Cooperation, Reform
  • Political Geography: Europe, Turkey
  • Author: Jacques Pelkmans, 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, Governance
  • Political Geography: Europe, Singapore
  • Author: Jørgen Mortensen
  • Publication Date: 08-2013
  • Content Type: Working Paper
  • Institution: Centre for European Policy Studies
  • Abstract: This paper first takes a step backwards with an attempt to situate the recent adoption of the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union in the context of discussions on the Stability and Growth Pact (SGP) and the 'Maastricht criteria', as fixed in the Maastricht Treaty for membership in the Economic and Monetary Union (EMU) in a longer perspective of the sharing of competences for macroeconomic policy-making within the EU. It then presents the main features of the new so-called 'Fiscal Compact' and its relationship to the SGP and draws some conclusions as regards the importance and relevance of this new step in the process of economic policy coordination. It concludes that the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union does not seem to offer a definitive solution to the problem of finding the appropriate budgetary-monetary policy mix in EMU, which was already well identified in the Delors report in 1989 and regularly emphasised ever since and is now seriously aggravated due to the crisis in the eurozone. Furthermore, implementation of this Treaty may under certain circumstances contribute to an increase in the uncertainties as regards the distribution of the competences between the European Parliament and national parliaments and between the former and the Commission and the Council.
  • Topic: Economics, Markets, Regional Cooperation, Treaties and Agreements, Monetary Policy
  • Political Geography: Europe
  • Author: Bernard Delbecque
  • Publication Date: 10-2013
  • Content Type: Policy Brief
  • Institution: Centre for European Policy Studies
  • Abstract: This paper argues that it should be possible to complement Europe's Economic and Monetary Union with an insurance-type shock absorption mechanism to increase the resilience of member countries to economic shocks and reduce output volatility. Such a mechanism would neither require the establishment of a central authority, nor would it lead to permanent transfers between countries. For this mechanism to become a reality, however, it would be necessary to overcome certain technical problems linked to the difficulty of anticipating correctly the position of an economy in the business cycle.
  • Topic: Economics, Regional Cooperation, Governance
  • Political Geography: Europe
  • Author: Giovanni Faleg
  • Publication Date: 12-2013
  • Content Type: Policy Brief
  • Institution: Centre for European Policy Studies
  • Abstract: Let us take three assumptions: The demand for security provision continues to increase in Europe's fragile neighbourhood (notably following the 'Arab Spring'); Austerity restrictions have hit national defence budgets heavily; The balance of power is shifting 'from the West to the rest' and the Americans are pivoting eastwards. Under these circumstances, it is no surprise that the EU is struggling to establish itself as a credible and effective security actor. The final report of High Representative Catherine Ashton, released in preparation for the December 2013 European Council on Security and Defence, admits that Europe "faces rising security challenges within a changing strategic context while the financial crisis is increasingly affecting its security and defence capability". But these are not the true causes of CSDP inertia.
  • Topic: Defense Policy, Regional Cooperation
  • Political Geography: Europe
  • Author: Sergio Carrera, Elspeth Guild, Nicholas Hernanz
  • Publication Date: 11-2013
  • Content Type: Policy Brief
  • Institution: Centre for European Policy Studies
  • Abstract: The European Union, and its Area of Freedom, Security and Justice (AFSJ), is founded on a set of common principles of rule of law, democracy and human rights. This has been officially enshrined in the body of Article 2 of the Treaty on European Union (TEU) which lists "respect for human dignity, freedom, democracy, equality, the rule of law and respect for human rights, including the rights of persons belonging to minorities" as the shared values on which the Union is rooted. One of the current modalities of action to ensure that all member states of the EU respect Article 2 TEU is to filter their compliance with these values before they accede to the Union. The so-called 'Copenhagen criteria' have been established in 1993 to ensure that all new EU member states are in line with the Union's common principles before crossing the bridge towards membership.
  • Topic: Democratization, Human Rights, International Law, Regional Cooperation
  • Political Geography: Europe
  • Author: Andrea Renda, Oliver Fritsch, Claudio M. Radaelli, Lorna Schrefler
  • Publication Date: 01-2012
  • Content Type: Working Paper
  • Institution: Centre for European Policy Studies
  • Abstract: This paper examines the quality of impact assessments in the European Commission and the United Kingdom for the period 2005-2010. We coded 477 impact assessments for the UK and 251 for the European Commission, using a detailed scorecard - adjusted to reduce the bias evidenced by previous usages of this instrument.
  • Topic: Economics, Regional Cooperation, Governance
  • Political Geography: United Kingdom, Europe
  • Author: Daniel Gros, 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, Financial Crisis
  • Political Geography: Europe