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2221. Fiscal Policy in the European Monetary Union

Author:
Betty C. Daniel
Publication Date:
12-2008
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
A country entering the EMU surrenders its monetary policy, and its debt becomes denominated in terms of a currency over which it has no direct control. A countryís promise to uphold the Öscal limits in the Maastricht Treaty and the Stability and Growth Pact is implicitly a promise not to allow its Öscal stance to deteriorate to a position in which it places pressure on the central bank to forgo its price level target to Önance Öscal deÖcits. Violation of these limits has raised questions about potential Öscal encroachment on the monetary authorityís freedom to determine the price level. We specify a simple model of Öscal policy in which the Öscal authority faces an upper bound on the size of its primary surplus. Policy is determined by a Öscal rule, speciÖed as an error correction model, in which the primary surplus responds to debt and a target variable. We show that for the monetary authority to have the freedom to control price, the primary surplus must respond strongly enough to lagged debt. Using panel techniques that allow for unit roots and for heterogeneity and cross-sectional dependence across countries, we estimate the coe¢ cients of the error correction model for the primary surplus in a panel of ten EMU countries over the period 1970-2006. The group mean estimate for the coe¢ cient on lagged debt is consistent with the hypothesis that the monetary authority can control the price level in the EMU, independent of Öscal ináuence.
Topic:
European Union, Fiscal Policy, and European Monetary Union
Political Geography:
Europe

2222. Competition Law and Policy in the European Union

Author:
Michael Wise
Publication Date:
10-2007
Content Type:
Working Paper
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
Competition policy played a central role in the development of the EU and its institutions. The European Commission, supported by the European courts, developed the framework for competition policy in Europe. This framework has been built since the Treaty of Rome in 1957 on a foundation of promoting market opening while strengthening the institutions of the European Community. The competition policy of the European Community is now in transition toward a basis in market-centered economic considerations, as well as on application through the now-extensive network of nationallevel authorities. The “modernisation” reforms of the enforcement process became effective in May 2004, along with changes in the control of mergers, and the Commission has been considering revisions to its policies about other topics, notably abuse of dominance and state aid. As the Member States adapt their substantive rules to those of the Community, the roles of the European Commission, the national competition agencies and the courts are changing. Co-ordination of enforcement among many agencies in the European Community, particularly concerning applications for leniency as part of cartel investigations, is increasingly important. The Commission moved to strengthen its capacity for economic analysis and to correct weaknesses in its decision process that had been revealed in critical court decisions. The challenge to this system, well adapted for administrative application, is to produce results that are convincing to the courts while maintaining policy consistency in a system of decentralised enforcement.
Topic:
European Union, Legal Theory, Decentralization, and Strategic Competition
Political Geography:
Europe

2223. Airbus and Boeing: Strengths and Limitations of Strong States

Author:
John G. Francis and Alex F. Pevzner
Publication Date:
01-2007
Content Type:
Journal Article
Journal:
Political Science Quarterly
Institution:
Academy of Political Science
Abstract:
JOHN G. FRANCIS and ALEX F. PEVZNER focus on the rise of Airbus in the global aviation market over the past three decades to near parity with Boeing. They argue that the fortunes of Airbus cannot be understood without recognizing that historically, the manufacture of large commercial aircraft has been shaped by the industrial policies of strong states. The European consortium that produced Airbus was able to work as a strong state, anticipating the deepening economic integration of the European Union.
Topic:
Economics, Industrial Policy, European Union, and Aviation
Political Geography:
Europe

2224. Seeking Kant in the EU’s Relations with Turkey

Author:
Ali Murat Özdemir, Hakan Altinay, Jean-François Leguil-Bayart, Senem Aydın Düzgit, and Şeyla Benhabib
Publication Date:
12-2006
Content Type:
Special Report
Institution:
Turkish Economic and Social Studies Foundation (TESEV)
Abstract:
We believe European Union membership is in the interests of Turkey, the EU, and the global community. We are deeply concerned at the way the European Union is failing to respect the principles of equal treatment in its relations with Turkey. We do not argue that Turkey is ready for EU membership; and we recognise that Turkey has a lot to do, primarily regarding democratic governance, to make itself ready for membership. However, we also believe that increasingly discriminatory practices towards Turkey violate the Enlightenment principles upon which Europe itself is founded and endanger the formation of a Europe governed by Kantian ideals. This perspective necessitates identifying key events that gave rise to this concern during the period after the 1997 Luxembourg Summit. The main aim of this report is to examine the extent to which the EU has adhered to its official statements on fairness and equal treatment and whether or not the assertion that the EU has breached Kantian ideals is valid. The focus of this report will be two-fold. The first focus will be on the 'double standards' evident in the EU's policies towards Turkey, which we will point out by comparing the EU's treatment of Turkey with its treatment of other candidate countries. It is now widely accepted that there is a clear double standard in the way in which the EU deals with candidate-nations and member states, especially in areas such as human rights and the protection of minorities; the report will be on instances in which the EU has not kept key promises with Turkey or 'systematically distorted' communication has been abound in discussions over the issue. We believe that such an endeavour is imperative to see the way in which the EU today is deviating from the Kantian ideal of achieving a Europe without dividing lines, where 'you do as you would be done by.'
Topic:
Treaties and Agreements, Governance, European Union, Democracy, Regional Integration, and Immanuel Kant
Political Geography:
Europe, Turkey, Middle East, and Mediterranean

2225. The ‘Europeanisation’ of National Foreign, Security and Defence Policy

Author:
Plamen Pantev
Publication Date:
11-2005
Content Type:
Special Report
Institution:
Institute for Security and International Studies (ISIS)
Abstract:
This Research Report focuses on the issue of the interpretation of the meaning of the term ‘Europeanisation’. It is followed by a discussion of two constraining factors of Europeanising the foreign, security and defence policy. Lastly, it deals with the interrelationship of ‘security’ and ‘regional integration’ – an issue that is generally disregarded by analysts and politicians, but that can lead to a methodological miss-match, creating obstacles to the course of a less contradictory Europeanisation of the foreign, security and defence policy of the EU.
Topic:
Security, Foreign Policy, Defense Policy, European Union, and Europeanization
Political Geography:
Europe and Eastern Europe

2226. The Lisbon Strategy and Ethnic Minorities: Rights and Economic Growth.

Author:
Tove H. Malloy
Publication Date:
04-2005
Content Type:
Policy Brief
Institution:
European Centre for Minority Issues (ECMI)
Abstract:
The fact that member states’ approach to social inclusion is weak, whether rightsbased or growth-motivated is perhaps not surprising. Ethnic minorities are often considered second-class citizens, especially if they do not hold legal citizenship. Indeed, in some member states ethnic minorities are denied citizenship. But even in those member states where members of ethnic minorities do obtain citizenship, second-class status is often the norm. This is, of course, a reason why the rights-based approach is important. But it continues to be based on the assumption that social exclusion of ethnic minorities is but an economic burden to society, as if eliminating social exclusion would balance the books and jump-start the economy. It does not take into account that social exclusion is a drawback to economic growth because it is seen as a static phenomenon rather than an investment opportunity. EU policy makers would gain by recognizing that ethnic minorities constitute an untapped asset to society, a dynamic force that is amenable, adjustable, and willing. There is no reason to believe that members of ethnic minorities have less energy than the rest of us. To tap into this energy, the rights-based approach alone will not do. It must go hand in hand with investment policies towards economic growth. If EU policy makers were to see ethnic minorities as a vital investment component in the quest for economic growth, perhaps the recovery of the Lisbon Strategy might speed up.
Topic:
Minorities, European Union, Ethnicity, Diversity, and Inclusion
Political Geography:
Europe

2227. The Aspect of Culture in Promoting Social Inclusion in the European Union: Is the Open Method of Co-ordination (OMC) Working for Ethnic Minorities?

Author:
Tove H. Malloy
Publication Date:
09-2005
Content Type:
Policy Brief
Institution:
European Centre for Minority Issues (ECMI)
Abstract:
In the context of making the European economic area competitive while reaching certain social and economic goals, the 2000 European Council at Lisbon initiated an ambitious implementation scheme on its Social Agenda introducing the Open Method of Co-ordination (OMC) as an instrument to streamline and optimize Community and Member States’ policies. The OMC method is a ‘soft governance’ approach aimed at generating real political commitment and different types of norms, procedural as well as substantive, through a highly institutionalized process of information sharing, deliberation, monitoring and learning.1 The method was first introduced in the area of employment and has been followed by an OMC on Social Inclusion (OMC/Incl.). Other focus areas are social protection/pensions and health care. The OMC on employment has recently undergone a first evaluation, and the Commission is preparing to subject the OMC/Incl. to its first evaluation.2 No OMC focuses specifically on minority inclusion but the OMC/Incl. has developed into one of the key areas of European Union (EU) policy implementation that addresses the socioeconomic exclusion of members of ethnic and Roma/Sinti minorities.
Topic:
Economics, Regional Cooperation, Minorities, European Union, and Social Services
Political Geography:
Europe

2228. Developing a New Euro-Atlantic Strategy for the Black Sea Region

Author:
Ronald D. Asmus
Publication Date:
06-2004
Content Type:
Research Paper
Institution:
Turkish Economic and Social Studies Foundation (TESEV)
Abstract:
A series of historically unprecedented events have brought the attention of the West to the wider Black Sea region—that area including the littoral states of the Black Sea, Moldova, and the Southern Caucasus countries of Armenia, Azerbaijan, and Georgia. An area that has heretofore been neglected by the Euro-Atlantic community is now starting to move from the periphery to the center of Western attention. Why has the West heretofore lacked such a strategy for the Black Sea region in the past and what has changed to make one so critical now? Four main factors explain the past lack of interest.
Topic:
NATO, Regional Cooperation, European Union, and Conflict
Political Geography:
Russia, Europe, Moldova, Armenia, Azerbaijan, Georgia, and Black Sea

2229. Cyprus after the Failure of the Annan-Plan

Author:
Jan Asmussen
Publication Date:
06-2004
Content Type:
Policy Brief
Institution:
European Centre for Minority Issues (ECMI)
Abstract:
On 24 April 2004 Greek and Turkish Cypriots decided in separate simultaneous referenda on whether or not Cyprus would join the European Union on 1 May 2004. While 64.91% of Turkish Cypriots accepted the Annan Plan, an overwhelming majority of 75.83% of Greek Cypriots rejected the UN blueprint. The extent of the Greek Cypriot “Oxi”(No) brought an end to a large scale effort by the United Nations Secretary-General to broker a final deal for a solution of the “oldest item continuously on the peacemaking agenda”.1 Apart from the UN, the United States (Special envoy: Thomas Weston), the United Kingdom (Special envoy: (Sir David Hannay) and the European Union have constantly observed and tried to facilitate the process. Consequently, there has been a great deal of disappointment among those engaged in finding a solution. The most outspoken comment came from EU Enlargement Commissioner, Günter Verheugen who on 21 April declared that he felt “cheated” by the Greek Cypriot Government. Kofi Annan’s latest report clearly puts most of the blame for the failure on the Greek Cypriot leader, Tassos Papadopoulos, and his government and stresses that “if the Greek Cypriots are ready to share power and prosperity with the Turkish Cypriots in a federal structure based on political equality, this needs to be demonstrated, not just in word, but in action.”3 Apparently, the international community never took the possibility of such an outcome into consideration. As a result, both the EU and the UN concentrated on pressuring the Turkish Cypriot side and Turkey to accept the UN Plan. At the same time no efforts were made to secure a more positive attitude by the Greek Cypriot leadership. Today the international community is in a stage of shock and has clearly not developed an alternative plan to cope with the new situation.
Topic:
International Cooperation, United Nations, Minorities, European Union, Leadership, Ethnicity, Diversity, and Peace
Political Geography:
Europe, Turkey, Greece, and Cyprus

2230. Monitoring Minority Protection in EU Member States

Publication Date:
07-2003
Content Type:
Special Report
Institution:
Open Society Foundations
Abstract:
These documents, prepared by the EU Accession Monitoring Program of the Open Society Institute, assess the state of minority protection in 10 Central and Eastern European states seeking full membership in the European Union and in five current member states. The reports examine candidate states' implementation of their minority protection or integration programmes, and each state's laws, institutions, and practices relating to minority protection of Roma or Muslims.
Topic:
Islam, Law, Minorities, European Union, Civil Rights, Institutions, Political Rights, and Freedom of Religion
Political Geography:
Europe and Eastern Europe