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  • Author: Lukáš Tichý
  • Publication Date: 10-2017
  • Content Type: Policy Brief
  • Institution: Institute of International Relations Prague
  • Abstract: There are almost no oil or gas resources in the EU. To strengthen its energy security, the EU has taken a number of measures in its energy policy. Russia is currently the main energy supplier of oil and gas to the EU. In addition, the EU has been developing “energy relations” with existing and potential energy producers from Asia, the Middle East and North Africa (MENA), sub-Saharan Africa, North America, and Latin America. The European Union should complete the creation of a fully liberalized and interconnected internal market to which energy sources, especially gas, can be delivered effectively from around the world. The EU also has to pursue more efficient relations with its current and, especially, future producers and suppliers of energy.
  • Topic: International Affairs, Europe Union
  • Political Geography: Europe
  • Author: Michal Šimečka
  • Publication Date: 02-2017
  • Content Type: Policy Brief
  • Institution: Institute of International Relations Prague
  • Abstract: Under pressure from overlapping crises, writes Michal Šimečka in his newest policy paper, the European Union is embracing a more assertive role in security. The election of Donald Trump has added a further sense of urgency and purpose to EU defence cooperation. The pursuit of European strategic autonomy is not just a matter of upgrading capabilities, building institutions, or re-calibrating EU–NATO cooperation. It is also a struggle to re-invent the EU’s identity. The Czech Republic emerged as a supporter of the new dynamic, but Prague should do more to back its rhetorical support with tangible commitments and policy leadership.
  • Topic: International Political Economy, International Affairs
  • Political Geography: Europe
  • Author: Stephan Klose, Astrid Pepermans, Leia Wang
  • Publication Date: 11-2017
  • Content Type: Policy Brief
  • Institution: EGMONT - The Royal Institute for International Relations
  • Abstract: China’s 19th Party Congress unexpectedly amended the party’s constitution with a pledge to “pursue the Belt and Road Initiative”. This further elevates the status of president Xi’s heavily promoted foreign policy, which aims at creating trade and investment opportunities through the development of Eurasia’s continental and maritime infrastructure. As the implications of this policy are increasingly felt across Europe, following years of growing Chinese investments, so are the challenges it presents to Europe’s unity, prosperity and security. In light of these challenges a constructive engagement with China’s Belt and Road Initiative (BRI) constitutes an immense task for the European Union, whose position has been weakened by growing dissent among member states over the Union’s policy towards China.
  • Topic: International Affairs
  • Political Geography: China, Europe
  • Author: Selena Florensa
  • Publication Date: 09-2017
  • Content Type: Policy Brief
  • Institution: IEMed/EuroMeSCo
  • Abstract: This paper is dedicated to answer the Joint Consultation Paper on the ENP review and it refers to the methodological support of an early exercise of the 6th Euromed Survey carried out among EuroMeSCo network experts. With the aim of giving a consistent structure to the many issues addressed by the Joint Consultation Paper, this study was divided into three main chapters. The first chapter tackles the redefinition of the ENP policy framework, which is vital in order to build an instrument coherent with reality, especially in what concerns the geographical scope of the policy, the actors and interlocutors it has to involve and the balance between interests and values. The second chapter is methodological and targets several flaws of the current policy arrangement and tools, while it proposes substantial and detailed changes for a more effective policy through the definition of priority policy areas and the combination of different tools. In the last chapter, key strategic issues on the outset and implementation of the ENP are addressed: a better coordination between Members States and the European Union and between the EEAS and the European Commission is of paramount importance in order to ensure the functioning of the policy.
  • Topic: International Affairs
  • Political Geography: Europe
  • Author: Uuriintuya Batsaikhan, Robert Kalcik, Dirk Schoenmaker
  • Publication Date: 02-2017
  • Content Type: Policy Brief
  • Institution: Bruegel
  • Abstract: London is an international financial centre, serving European and global clients. A hard Brexit would lead to a partial migration of financial firms from London to the EU27 (EU minus UK) to ensure they can continue to serve their EU27 clients. Four major cities will host most of the new EU27 wholesale markets: Frankfurt, Paris, Dublin and Amsterdam. These cities have far fewer people employed in finance than London. Moreover, they host the European headquarters of fewer large companies. The partial migra- tion of financial firms will thus have a major impact on these cities and their infrastructures. Banks are the key players in wholesale markets. United States and Swiss investment banks, together with one large German and three large French banks, will make up the core of the new EU27 wholesale markets. Some Dutch, Italian and Spanish banks are in the second tier. The forex, securities and derivatives trading markets are now in London. We map the current, limited market share of the four major cities that might host the EU27 client business. The expected migration of financial trading will lead to a large increase in trading capacity (eg bank trading floors). Clearing is the backbone of modern financial markets. A comparative overview of clearing facilities in the EU27 shows that Germany and France have some clearing capacity, but this will need to be expanded. The ownership of clearing is often intertwined with stock exchanges. Were the planned LSE-Deutsche Börse merger to go ahead, LSE would sell the Paris subsidiary of its clearinghouse. In terms of legal systems, there is an expectation that trading activities will be able to continue under English contract law, also in the EU27. A particular challenge is to develop FinTech (financial technology) in the EU27, as this innovative part of the market is currently based in London. We estimate that some 30,000 jobs might move from London to the EU27. This will put pressure on the facilities (infrastructure, offices, residential housing) in the recipient cities. The more the European Union market for financial services is integrated, the less need there will be for financial firms to move to one location, reducing the pressure for all facilities to be in one city (see Sapir et al, 2017, which is a companion piece to this paper).
  • Topic: International Political Economy, International Trade and Finance, Brexit
  • Political Geography: Britain, Europe
  • Author: Maria Demertzis, André Sapir, Guntram Wolff
  • Publication Date: 02-2017
  • Content Type: Policy Brief
  • Institution: Bruegel
  • Abstract: The United States is the European Union’s most important trade and bilateral investment partner, which has, until now, supported a multilateral trade system and European integration and has provided a security guarantee to the countries of the EU. But like other advanced economies, the US’s relative weight in the global economy has declined. The new US administration seems intent on replacing multilateralism with bilateral deals. In trade, it aims to secure new trade deals in order to reduce bilateral trade deficits and to protect, in particular, the US manufacturing sector. In climate policy, the US commitment to the Paris Agreement is being questioned. In defence, the security umbrella appears less certain than previously. The overall promise behind this change of direction is to put ‘America first’ and deliver better results for US citizens.
  • Topic: International Political Economy, International Trade and Finance, Bilateral Relations, Multilateral Relatons, Political stability
  • Political Geography: Europe, United States of America
  • Author: Andre Sapir, Dirk Schoenmaker, Nicolas Veron
  • Publication Date: 02-2017
  • Content Type: Policy Brief
  • Institution: Bruegel
  • Abstract: The United Kingdom’s exit from the European Union creates an opportunity for the remaining EU27 to accelerate the development of its financial markets and to increase its resilience against shocks. Equally, Brexit involves risks for market integrity and stability, because the EU including the UK has been crucially dependent on the Bank of England and the UK Financial Conduct Authority for oversight of its wholesale markets. Without the UK, the EU27 must swiftly upgrade its capacity to ensure market integrity and financial stability. Furthermore, losing even partial access to the efficient London financial centre could entail a loss of efficiency for the EU27 economy, especially if financial developments inside the EU27 remain limited and uneven.
  • Topic: Economics, International Political Economy, International Trade and Finance, Political stability, Brexit
  • Political Geography: Britain, Europe
  • Author: Robert Kalcik, Guntram Wolff
  • Publication Date: 01-2017
  • Content Type: Policy Brief
  • Institution: Bruegel
  • Abstract: Brexit offers a political opportunity for the European Parliament to reform the allocation of seats to member states. This Policy Contribution explores different options for reform and their implications for equality of representation and distribution of seats to countries, within the constraints set by the EU treaties.
  • Topic: International Organization, International Affairs, Political Theory, European Union, Democracy, Brexit
  • Political Geography: Europe
  • Author: Zsolt Darvus
  • Publication Date: 01-2017
  • Content Type: Policy Brief
  • Institution: Bruegel
  • Abstract: The ‘poverty’ target set by the European Commission aims to lift “over 20 million people out of poverty” between 2008 and 2020 in the EU27. Progress to date against this target has been disappointing. Why is it so hard to reach the Europe 2020 ‘poverty’ target? What does the poverty indicator actually measure?
  • Topic: Economics, International Political Economy, International Trade and Finance, Poverty
  • Political Geography: Europe
  • Author: Hamza Meddeb
  • Publication Date: 01-2017
  • Content Type: Policy Brief
  • Institution: European Council On Foreign Relations
  • Abstract: Six years since the revolution, the success of democracy in Tunisia depends on those parts of the country where the popular uprising began: its ‘periphery’, whose regions lag far behind the country’s economically more developed coast. Tunisia’s periphery regions suffer from weak economic growth and high levels of poverty and unemployment – a legacy of decades of underinvestment. Regional conflict, terrorism and organised crime have led the government to crack down on security threats in the periphery regions. This has disrupted the informal and illegal economic networks on which much of the population relies and caused it to lose faith in the government. Tunisia has enjoyed extensive support from international partners since 2011 – money is not the problem. Instead, the country must strengthen its regional governance and address fragmentation at the heart of government. Europeans can radically alter the terms of debate by offering Tunisia membership of the European Economic Area, galvanising change in support of its journey towards democracy and stability.
  • Topic: International Relations
  • Political Geography: Europe