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6631. A Renewed Political Deal for Sustainable Growth within the Eurozone and the EU: An Open Letter to the President of the European Council

Author:
Daniel Gros, Stefano Micossi, Richard Baldwin, Giuliano Amato, and Pier Carlo Padoan
Publication Date:
12-2010
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
Under current policies, the European Union will only be able to pull itself out of low growth and high unemployment very slowly – too slowly to exclude dangerous economic and political assaults on the Union's continuing cohesion and viability. What is needed is a substantial increase in the EU output growth rate, which has been persistently low for too long a time. With low growth, sovereign debt sustainability in a number of member states will remain uncertain, possibly leading to renewed strains in financial markets and rising spreads that will aggravate the costs of budgetary consolidation. The divergences in productivity and competitiveness and the current external imbalances they engendered can be unwound at an acceptable cost only if growth accelerates in the core and the periphery. On present trends, the adjustment burden might be unbearable for peripheral countries and generate strains that may eventually undermine the euro.
Topic:
Economics, Regional Cooperation, Monetary Policy, and Governance
Political Geography:
Europe

6632. Consumer Valuation of Energy Supply Security: An Analysis of Survey Results in Three EU Countries

Author:
Wan-Jung Chou, Alistair Hunt, Anil Markandya, Andrea Bigano, Roberta Pierfederici, and Stephane La Branche
Publication Date:
11-2010
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
There is a decided movement in EU energy markets towards a deregulated framework. This framework, however, might lack the necessary incentive structure for generators to maintain high service reliability, thus increasing the risk of generation and transmission outages. Faced with such a challenge, it is crucial for policy-makers to envisage consumer valuation of service reliability in the future so that an acceptable combination of regulatory and economic tools can be applied to maintain adequate security of energy supply that is socially optimal and economically efficient.
Topic:
Security and Energy Policy
Political Geography:
Europe

6633. Europe's Electricity Supply Security: Strengthening the Chain

Author:
Michele Benini
Publication Date:
11-2010
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
Efficient development of electricity transmission infrastructure is crucial to achieving EU targets for a secure, competitive and sustainable electricity supply. However, many uncertainties, such as future load demand, generation supply, electricity prices and increasing time requirements for the realisation of transmission infrastructures in member states, increase the risk that these targets will not be reached. Given the forecasted increase of distributed generation and the introduction of demand response techniques to control load, new decentralised network architectures must be defined to guarantee the system's efficient use and stability. Each link in the chain of electricity security of supply is crucial, from generation to transmission to distribution to demand.
Topic:
Security, Development, and Energy Policy
Political Geography:
Europe

6634. Europe's Coal Supply Security: Obstacles to Carbon Capture, Transport and Storage

Author:
Christian von Hirschhausen, Clemens Haftendorn, Johannes Herold, Franziska Holz, Anne Neumann, and Sophia Rüster
Publication Date:
11-2010
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
Europe faces a paradox with respect to coal supply security. On the one hand, coal is a reliable fossil fuel, with ample reserves available from a large number of producers. Globally, coal use has risen at a rate of 4.9% annually in recent years (WCI, 2010). Yet on the other hand, Europe's climate policy objectives will not allow continued use unless this 'dirtiest' of all fossil fuels can be transformed into a 'clean' one, e.g. via new carbon capture, transport and storage (CCTS) technology. CCTS, however, this requires substantial technological advances for application in the medium and long term (MIT, 2007). The Intergovernmental Panel on Climate Change (IPCC, 2005) concludes that CCTS can contribute 15-55% of the cumulative emissions reduction effort through 2100, and assumes a major role in a portfolio of the low carbon technologies needed to mitigate climate change. According to the International Energy Agency (IEA, 2008), CCTS is "the most important single new technology for CO2 savings" in both power generation and industry. However, the IEA's 2009 'Blue Map' scenario also states that 100 carbon capture plants, a minimum of 10,000 km of pipelines and storage of 1.2 GtCO2 are required for CCTS to become a serious abatement technology by 2020. We are nowhere close to these and might never get there.
Topic:
Security and Energy Policy
Political Geography:
Europe

6635. Security of Europe's Gas Supply: EU Vulnerability

Author:
Andrew Macintosh
Publication Date:
11-2010
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
Clearly the natural gas market is experiencing considerable change: a second Ukraine-Russia gas crisis, a collapse in the price of natural gas, a new European natural gas security of supply regulation and the mass production of natural gas from unconventional sources in the US as a result of technological advancements, which could yet have an impact on the EU. This Policy Brief is a summation of the European Union's vulnerability to natural gas supply security risks.
Topic:
Security and Energy Policy
Political Geography:
Russia, Europe, and Ukraine

6636. National Commitments, Compliance and the Future of the Kyoto Protocol

Author:
Noriko Fujiwara and Diarmuid Torney
Publication Date:
11-2010
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
Among the many unresolved issues on the agenda of the forthcoming UN climate change negotiations in Cancun is the issue of what will happen to the Kyoto Protocol, since at present, there will be no targets for greenhouse (GHG) emissions from developed countries under the Protocol beyond 2012. To illuminate this aspect of the Protocol, this Policy Brief looks closer at the nature of the commitments and the compliance regime under the Kyoto Protocol. We argue that the compliance regime of the Protocol is not as robust as many of the Protocol's supporters might think. The precise legal form of the commitments in the climate regime may have little impact on whether countries actually achieve their targets. Instead, we argue, negotiators should focus on agreeing a framework of commitments that are credible and enforceable, rather than focus excessively on the legal form of those commitments.
Topic:
Climate Change, International Cooperation, Treaties and Agreements, and United Nations

6637. The Bosnian Hiatus: A Story of Misinterpretations

Author:
Goran Tirak
Publication Date:
11-2010
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
Bosnia and Herzegovina (hereinafter: Bosnia or BiH) has often been described as a failed state, but in reality it is actually not that far behind other Western Balkan countries that have aspirations to join the EU. Due to recent developments, however, there is a danger that this gap will widen.
Topic:
Civil War, Peace Studies, Treaties and Agreements, Territorial Disputes, and Peacekeeping
Political Geography:
Europe and Balkans

6638. Unearthing China's Rare Earths Strategy

Author:
Roderick Kefferputz
Publication Date:
11-2010
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
Relations between China and the West have been difficult at best in recent months. Frustrations on both sides have increased palpably. Besides long-standing disagreements over Beijing's policy on the renminbi, the stalled climate change negotiations and human rights, new challenges have also (re)emerged. These include, amongst others, rising concerns over China's role in the South China Sea and the conflict over the Japanese-controlled Senkaku or Diaoyu Islands in the East China Sea. Recently, however, one issue in particular has made the headlines: rare earths.
Topic:
Environment, Industrial Policy, and Science and Technology
Political Geography:
China and Europe

6639. The European Council Summit and the Political Economics of the EMU Crisis

Author:
Christian Fahrholz and Cezary Wójcik
Publication Date:
11-2010
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
Roger Ailes, a former advisor to Ronald Reagan, recalls in his book an intriguing practice of the ancient Romans: when they finished building a bridge or an arch, they enforced accountability by placing the engineer in charge beneath the construction when the scaffolding was removed. If the edifice did not hold, he was the first to know. We do not follow such drastic practices these days in Europe, but with some European economies shaking and the Greek sovereign debt crisis still not over, the architecture of the euro area has been certainly come under severe stress. Unfortunately, the 28-29 October 2010 European Council Summit has not made this architecture much safer.
Topic:
Economics, Regional Cooperation, Monetary Policy, and Financial Crisis
Political Geography:
Europe

6640. Recurrent cost boom threathens Millennium Development Goals

Author:
Ole Therkildsen
Publication Date:
11-2010
Content Type:
Policy Brief
Institution:
Danish Institute for International Studies (DIIS)
Abstract:
At the September 2010 UN summit on the Millennium Development Goals the Secretary-General stressed that tremendous progress in school enrolment, disease control and access to clean water had been achieved. This policy brief addresses a question that he did not talk about. How shall the achievements in relation to the goals be sustained beyond January 1, 2016?
Topic:
Development, Economics, Education, Health, Poverty, and Water
Political Geography:
United Nations