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Begin New Search Political Geography Europe Content Type Policy Brief

1491. 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 (CEPS)
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

1492. TARGET2 Unlimited: Monetary Policy Implications of Asymmetric Liquidity Management within the Euro Area

Author:
José M. Abad, Axel Löffler, and Holger Zemanek
Publication Date:
07-2011
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
This paper analyses the implications of a continued divergence of TARGET2 balances for monetary policy in the euro area. The accumulation of TARGET2 claims (liabilities) would make the ECB's liquidity management asymmetric once the TARGET2 claims in core countries have crowded out central bank credit in those regions. Then while providing scarce liquidity to banks in countries with TARGET2 liabilities, the ECB will need to absorb excess liquidity in countries with TARGET2 claims. We discuss three alternatives and their implications for absorbing excess liquidity in core regions: 1) using market-based measures might accelerate the capital flight from periphery to core countries and would add to the accumulation of risky assets by the EC B; 2) conducting non-mark et based measures, such as imposing differential (unremunerated) reserve requirements, would distort banking markets and would support the development of shadow banking; and 3) staying passive would lead to decreasing interest rates in core Europe entailing inflationary pressure and overinvestment in those regions and possibly future instability of the banking system.
Topic:
Economics, Monetary Policy, and Financial Crisis
Political Geography:
Europe

1493. The General Affairs Council: The Key to Political Influence of Rotating Presidencies

Author:
Piotr Maciej Kaczyński and Andrew Byrne
Publication Date:
07-2011
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
In spite of the formal role laid out for the General Affairs Council (GAC) in the Treaties, it has been weakened since it was extracted from the General Affairs and External Relations Council (GAERC) and set up to function on its own. Its current uneven composition is leading to further marginalisation. Reforming the GAC can bring it to the centre of gravity of the Council proceedings and address a number of problems in the current institutional structure. For that to happen, however, countries holding the rotating Council presidency need to consider placing their head of state or government in the chair of the GAC meetings. Upgrading GAC in this way would streamline the diverse work of the Council, it would help in alleviatin g the heavy political burden that now falls on the understaffed President of the European Council and it would allow the institution of the rotating presidency to regain a higher political profile by creating out of national leaders a de facto Vice President of the European Council.
Topic:
Regional Cooperation, Treaties and Agreements, and Governance
Political Geography:
Europe

1494. An evaluation of the French proposal for a restructuring of Greek debt

Author:
Christian Kopf
Publication Date:
06-2011
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
French commercial banks are proposing a swap of €85.5 billion in Greek government bonds maturing between 2011 and 2014 into a combination of new long-term Greek bonds with principal guarantee and cash payments. If this initiative were implemented under the proposed parameters, private creditors would only suffer a minimal haircut and official lenders would be provided with cash-flow relief of around €20 billion over the next three years, but the solvency of the Hellenic Republic would worsen significantly.
Topic:
Debt, Economics, and Financial Crisis
Political Geography:
Europe

1495. Space Observation Systems: An underused element for EU and global climate change policy

Author:
Christian Egenhofer and Monica Alessi
Publication Date:
06-2011
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
The European Union has long played a key role in global efforts to reduce GHG emissions and, where necessary, to adapt to its impacts. It has also been an advocate of a legally binding comprehensive global climate change agreement.
Topic:
Climate Change, Globalization, and Science and Technology
Political Geography:
Europe

1496. The EU-Russia Summit in Nizhny Novgorod: Divergent logics of communication

Author:
Andrei Makarychev and Alexander Sergunin
Publication Date:
06-2011
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
This policy brief analyses the state of EU–Russian relations as seen from the vantage point of the summit held on June 9-10 in Nizhny Novgorod. We describe the political context in which the summit was embedded, the anticipations it evoked from the both sides, its outcomes and some perspectives for the nearest future.
Topic:
Foreign Policy, Diplomacy, and Bilateral Relations
Political Geography:
Russia and Europe

1497. Alternative futures for Russia: the presidential elections and beyond

Author:
Simon Saradzhyan and Nabi Abdullaev
Publication Date:
05-2011
Content Type:
Policy Brief
Institution:
European Union Institute for Security Studies
Abstract:
This Occasional Paper outlines alternative scenarios for Russia's short-term future with a focus on potential outcomes of the March 2012 presidential elections. To construct these scenarios, the paper first identifies key predetermined factors in Russia's domestic and foreign policy domains. The paper then outlines and analyses key factors of uncertainty, which the authors define as events that could be 'game changers', having the potential to lead to a significant change in the course of Russia's development over the coming twelve months. The paper goes on to present three scenarios, based on three different interpretations of key areas of uncertainty and their interaction with predetermined factors. The paper concludes which scenarios are more probable and which are more favourable for Russia and by extension for its partners, and primarily the European Union.
Topic:
Corruption, Democratization, and Politics
Political Geography:
Russia and Europe

1498. EU Conflict Prevention Revisited

Author:
Jonas Claes
Publication Date:
05-2011
Content Type:
Policy Brief
Institution:
United States Institute of Peace
Abstract:
So far the European Union has not operated as the leading actor on prevention that it aims to be. The recent launch of the European External Action Service (EEAS) in December 2010 could present a breakthrough in this regard. Most of the existing prevention instruments will be relocated to the new Service. A tentative organogram of the EEAS also reveals the establishment of a Directorate for Conflict Prevention and Security Policy. It remains to be seen whether this institutional innovation can address the challenges that have constrained the EU's role in prevention so far, including the EU's coherence, consensus, conceptual clarity and ambition.
Topic:
Conflict Prevention, Security, and Defense Policy
Political Geography:
Europe

1499. From the FDI Triad to multiple FDI poles?

Author:
Karl P. Sauvant and Persephone Economou
Publication Date:
07-2011
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Twenty years ago, in the inaugural issue of the World Investment Report, the United Nations highlighted a shift in the global pattern of foreign direct investment (FDI) from bipolar, dominated by the United States and the European Community, to tri-polar (the FDI Triad), dominated by the European Community, the United States and Japan.
Topic:
Economics, International Trade and Finance, United Nations, and Foreign Direct Investment
Political Geography:
United States, Japan, and Europe

1500. U.S. European Command and NATO'S Strategic Concept: Post-Afghanistan and Beyond

Author:
Harlan Ullman
Publication Date:
07-2011
Content Type:
Policy Brief
Institution:
Atlantic Council
Abstract:
Regardless of how the conflict in Afghanistan (along with NATO's role, presence, and draw down) is resolved, one consequence will be to increase the importance of U.S. European Command (EUCOM) both in Europe and for the entire transatlantic community. Whether Operation Enduring Freedom and International Security Assistance Force (ISAF) produce a stunning victory in which Afghanistan emerges as a stable state under the rule of law with a viable government or a rocky withdrawal in the midst of continuing violence with no clear solution in sight, NATO nations will have long tired of that war. Fortunately, the Lisbon Summit with a 2014 end date has eased domestic political pressures over Afghanistan. However, that relief is by no means permanent.
Topic:
Defense Policy, Economics, International Cooperation, Military Strategy, and Reform
Political Geography:
Afghanistan, United States, and Europe