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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: 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: 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
  • Author: Andrea Renda, Fabrizio Cafaggi
  • Publication Date: 10-2012
  • Content Type: Working Paper
  • Institution: Centre for European Policy Studies
  • Abstract: Private governance is currently being evoked as a viable solution to many public policy goals. However, in some circumstances it has shown to produce more harm than good, and even disastrous consequences as in the case of the financial crisis that is raging in most advanced economies. Although the current track record of private regulatory schemes is mixed, policy guidance documents around the world still require that policy-makers give priority to self-and co-regulation, with little or no additional guidance being given to policymakers to devise when, and under what circumstances, these solutions can prove viable from a public policy perspective. With an array of examples from several policy fields, this paper approaches regulation as a public-private collaborative form and attempts to identify possible policy tools to be applied by public policy-makers to efficiently and effectively approach private governance as a solution, rather than a problem. We propose a six-step theoretical framework and argue that IA techniques should: i) define an integrated framework including both the possibility that private regulation can be used as an alternative or as a complement to public legislation; ii) involve private parties in public IAs in order to define the best strategy or strategies that would ensure achievement of the regulatory objectives; and iii) contemplate the deployment of indicators related to governance and activities of the regulators and their ability to coordinate and solve disputes with other regulators.
  • Topic: Economics, International Trade and Finance, Markets, Regional Cooperation
  • Political Geography: Europe
  • Author: Paul De Grauwe, Yuemei Ji
  • Publication Date: 09-2012
  • Content Type: Working Paper
  • Institution: Centre for European Policy Studies
  • Abstract: This paper analyzes two claims that have been made about the Target2 payment system. The first one is that this system has been used to support unsustainable current account deficits of Southern European countries. The second one is that the large accumulation of Target2 claims by the Bundesbank represents an unacceptable risk for Germany if the eurozone were to break up. We argue that these claims are unfounded. They also lead to unnecessary fears in Germany that make a solution of the eurozone crisis more difficult. Ultimately, this fear increases the risk of a break-up of the eurozone. Or to paraphrase Franklin Roosevelt, what Germany should fear most is simply its own fear.
  • Topic: Economics, Regional Cooperation, Monetary Policy, Financial Crisis
  • Political Geography: Europe, Germany
  • Author: Consuelo Pacchioli
  • Publication Date: 05-2011
  • Content Type: Working Paper
  • Institution: Centre for European Policy Studies
  • Abstract: As an alternative to measuring the extent of market integration, 'home-bias' indicates the degree to which economic agents 'over-prefer' to transact with domestic agents rather than agents from other EU countries. Such an exclusive preference is measured against a benchmark of (ideal) market integration and is called 'home-bias'.
  • Topic: International Trade and Finance, Markets, Regional Cooperation
  • Political Geography: Europe
  • Author: Paul De Grauwe
  • Publication Date: 05-2011
  • Content Type: Working Paper
  • Institution: Centre for European Policy Studies
  • Abstract: When entering a monetary union, member countries change the nature of their sovereign debt in a fundamental way, i.e. they cease to have control over the currency in which their debt is issued. As a result, financial markets can force these countries' sovereigns into default. In this sense, the status of member countries of a monetary union is downgraded to that of an emerging economy. This makes the monetary union fragile and vulnerable to changing market sentiments. It also makes it possible that self-fulfilling multiple equilibria arise.
  • Topic: Debt, Markets, Regional Cooperation, Financial Crisis
  • Political Geography: Europe
  • Author: Daniel Gros, Felix Roth
  • Publication Date: 12-2011
  • Content Type: Working Paper
  • Institution: Centre for European Policy Studies
  • Abstract: This paper analyses public support for the euro in Germany. Drawing from the results of regular Eurobarometer surveys, it finds that the ongoing financial and sovereign debt crisis has reduced support for the euro among German citizens, but not dramatically so – at least not yet. In the 1990s, the German public was sceptical towards the euro. But since the introduction of euro banknotes and coins, a clear majority of citizens supports the euro – despite the financial and sovereign debt crisis. Moreover, on average, support for the euro is at a similar level in Germany as it is elsewhere in the euro area.
  • Topic: Economics, Regional Cooperation, Monetary Policy, Financial Crisis
  • Political Geography: Europe, Germany
  • Author: Felix Roth, Felicitas Nowak-Lehmann D., Lars Jonung
  • Publication Date: 11-2011
  • Content Type: Working Paper
  • Institution: Centre for European Policy Studies
  • Abstract: This paper analyses the evolution of public support for the euro from 1990 to 2011, using a popularity function approach, focusing on the most recent period of the financial and sovereign debt crisis. Exploring a huge database of close to half a million observations covering the 12 original euro area member countries, we find that the ongoing crisis has only marginally reduced citizens' support for the euro – at least so far. This result is in stark contrast to the sharp fall in public trust in the European Central Bank. We conclude that the crisis has hardly dented popular support for the euro while the central bank supplying the single currency has lost sharply in public trust. Thus, the euro appears to have established a credibility of its own – separate from the institutional framework behind the euro.
  • Topic: Economics, Regional Cooperation, Financial Crisis
  • Political Geography: Europe
  • Author: Juliet Lodge
  • Publication Date: 07-2010
  • Content Type: Working Paper
  • Institution: Centre for European Policy Studies
  • Abstract: It is no longer sensible to regard biometrics as having neutral socio-economic, legal and political impacts. Newer generation biometrics are fluid and include behavioural and emotional data that can be combined with other data. Therefore, a range of issues needs to be reviewed in light of the increasing privatisation of 'security' that escapes effective, democratic parliamentary and regulatory control and oversight at national, international and EU levels, argues Juliet Lodge, Professor and co-Director of the Jean Monnet European Centre of Excellence at the University of Leeds, UK.
  • Topic: Security, Democratization, Regional Cooperation
  • Political Geography: Europe
  • Author: Sergio Carrera
  • Publication Date: 06-2010
  • Content Type: Working Paper
  • Institution: Centre for European Policy Studies
  • Abstract: What should be the future institutional configurations of the second generation of the EU's Integrated Border Management strategy for the common external borders? The Stockholm Programme endorsed by the European Council on December 2009 and the European Commission's action plan implementing it published in April 2010 have brought back to the EU policy agenda the feasibility of setting up a European system of border guards as a long-term policy vision. This Working Document examines the origins of this proposal and aims at thinking ahead by asserting that any future discussion and study in this context should be refocused by initially addressing two central questions: First, what kind of 'border guard' and what kinds of 'border controls' does the EU need in light of the current EU acquis on external border crossings and the Schengen Borders Code? Second, what would be the 'added value' of any new institutional arrangement at the current stage of European integration?
  • Topic: International Law, Regional Cooperation
  • Political Geography: Europe
  • Author: Antoinette Primatarova
  • Publication Date: 04-2010
  • Content Type: Working Paper
  • Institution: Centre for European Policy Studies
  • Abstract: This paper argues against the view that Bulgaria's EU accession was premature and that the mechanism for cooperation and the verification of progress (CVM) is not delivering. The EU's continued leverage and the efficacy of the CVM are explained in a framework that goes beyond the dual-conditionality paradigm of incentives and sanctions, and beyond the unitary players model of EU–Bulgarian relations. In this framework, the CVM is viewed as an instrument for supportive reinforcement rather than for the imposition of sanctions. Furthermore, it is seen as targeting not just the government, but all Bulgarian stakeholders. The CVM is regarded as very effective at the level of public opinion and civil society, and as a mechanism that contributes to 'sandwiching' reform-reluctant Bulgarian governments between pressure from Brussels and domestic pressure for reforms. The CVM is also deemed useful for Bulgaria's further Europeanisation beyond the narrower pre-accession phase of 'EU-isation'. The paper suggests that eventual post-accession benchmarks might be appropriate in the process of further EU enlargement if properly understood as instruments for granting support and if discussed broadly with stakeholders beyond the executive. Concerning the efficiency/legitimacy dilemma, it is asserted that the CVM is an opportunity for increasing the EU's legitimacy.
  • Topic: Regional Cooperation
  • Political Geography: Europe, Bulgaria
  • Author: Sergio Carrera, Joanna Parkin
  • Publication Date: 09-2010
  • Content Type: Working Paper
  • Institution: Centre for European Policy Studies
  • Abstract: While the EU has no explicit legal competence in the sphere of religion and the management of relations with faith communities, religious concerns have taken on increasing importance within the legal and institutional framework and policy discourses of the European Union in the last years. This paper provides an overview of how religion and issues of religious diversity are being framed and addressed in EU law and policy by undertaking a critical analysis of the ways in which EU law and policy deal with, engage and understand religion at the policy level of the European Commission. Through an examination of EU legislation and both formal and informal policy initiatives in the fields of citizenship and fundamental rights, non-discrimination, immigration and integration, social inclusion and education and culture, this paper demonstrates that there is a complex and highly heterogeneous patchwork of EU normative approaches delineating the relationship between religion and the EU. These competing framings, very much rooted in the institutional structures of the Commission services, have important implications for discretionary power and sovereignty of the EU member states and for the coherence of European Union policies.
  • Topic: Regional Cooperation, Law
  • Political Geography: Europe
  • Author: Felix Roth
  • Publication Date: 09-2010
  • Content Type: Working Paper
  • Institution: Centre for European Policy Studies
  • Abstract: This paper analyses whether the financial crisis has affected citizens' confidence in the free market economy and whether it has triggered citizens' demand for a free market economy with stronger state regulations. Using panel data, the paper confirms that citizens' confidence levels in the free market economy have decreased in most of the largest economies and demand for a free market economy with stronger state regulation has increased on both sides of the Atlantic. After analysing the determinants for citizens' confidence in the free market economy and demand for a free market economy with stronger state regulation before and after the financial crisis, the author concludes that citizens' net confidence loss in the free market economy seems to have been driven by rising unemployment rates, and citizens' demand for stronger state regulation seems to have been driven by the real economic downturn in GDP growth.
  • Topic: Regional Cooperation, Monetary Policy, Financial Crisis, Governance
  • Political Geography: Europe
  • Author: Stefano Braghiroli
  • Publication Date: 09-2010
  • Content Type: Working Paper
  • Institution: Centre for European Policy Studies
  • Abstract: The last decades have witnessed a dramatic growth of internet-based communication. This phenomenon and its still partially unexplored potential have increasingly attracted the attention of a growing number of political entrepreneurs. This paper analyses to what extent it has characterised vertical communication between politicians and voters looking at a very particular group: the Members of the European Parliament (MEPs).
  • Topic: Politics, Regional Cooperation, Science and Technology
  • Political Geography: Europe
  • Author: Felix Roth, Anna-Elisabeth Thum
  • Publication Date: 09-2010
  • Content Type: Working Paper
  • Institution: Centre for European Policy Studies
  • Abstract: Using new international comparable data on intangible capital investment by business within a panel analysis from 1995-2005 in an EU-15 country sample, we detect a positive and significant relationship between intangible capital investment by business and labour productivity growth. This relationship is cross-sectional in nature and proves to be robust to a range of alterations. Our empirical analysis confirms previous findings that the inclusion of business intangible capital investment into the asset boundary of the national accounting framework increases the rate of change of output per worker more rapidly. In addition, intangible capital is able to explain a significant portion of the unexplained international variance in labour productivity growth and when incorporating business intangibles, capital deepening becomes an even more significant source of growth. The relationship is slightly stronger in the time period 1995-2000 and seems to be driven by the coordinated countries within the EU-15.
  • Topic: Economics, International Trade and Finance, Regional Cooperation, Monetary Policy, Financial Crisis
  • Political Geography: Europe
  • Author: Sergio Carrera, Elspeth Guild, Anaïs Faure Atger
  • Publication Date: 04-2009
  • Content Type: Working Paper
  • Institution: Centre for European Policy Studies
  • Abstract: The upcoming Swedish presidency of the EU will be in charge of adopting the next multiannual programme on an Area of Freedom, Security and Justice (AFSJ), during its tenure in the second half of 2009. As the successor of the 2004 Hague Programme, it has already been informally baptised as the Stockholm Programme and will present the EU's policy roadmap and legislative timetable over these policies for the next five years. It is therefore a critical time to reflect on the achievements and shortcomings affecting the role that the European Commission's Directorate-General of Justice, Freedom and Security (DG JFS) has played during the last five years in light of the degree of policy convergence achieved so far. This Working Document aims at putting forward a set of policy recommendations for the DG JFS to take into consideration as it develops and consolidates its future policy strategies, while duly ensuring the legitimacy and credibility of the EU's AFSJ within and outside Europe.
  • Topic: Security, International Law, International Organization, Regional Cooperation
  • Political Geography: Europe
  • Author: Julia De Clerck-Sachsse, Piotr Maciej Kaczyński
  • Publication Date: 05-2009
  • Content Type: Working Paper
  • Institution: Centre for European Policy Studies
  • Abstract: At the end of the 6th legislature, fears that enlargement would hamper the workings of the European Parliament have largely proved unfounded. Despite the influx of a large number of new members to Parliament, parties have remained cohesive, and legislative output has remained steady. Moreover, after an initial phase of adaptation, MEPs from new member states have been increasingly socialised into the EP structure. Challenges have arisen in a rather different field, however. In order to remain efficient in the face of increasing complexity, the EP has had to streamline its working procedures, moving more decisions to parliamentary committees and cutting down time for debate. This paper argues that measures to increase the efficiency of the EP, most notably the trend towards speeding up agreements with the Council (1st reading agreements) run the risk of undermining the EP's role as a forum of debate. Should bureaucratisation increasingly trump politicisation, the legitimacy of the EP will be undermined, and voters will become ever more alienated from its work. For the 7th legislature of the European Parliament therefore, it is crucial to balance efficiency of output with a more politicised policy style that is able to capture public interest.
  • Topic: Politics, Regional Cooperation, Governance
  • Political Geography: Europe
  • Author: Mats Braun
  • Publication Date: 11-2009
  • Content Type: Working Paper
  • Institution: Centre for European Policy Studies
  • Abstract: It is somewhat ironic that Czech eurosceptics managed to delay the ratification process of the Lisbon Treaty at a time when they seem to be in decline as a political force. President Klaus and his allies are becoming increasingly isolated within Czech political circles and lack the support of any established political party other than the Communists. The twin pressures of domestic vote utilisation and socialisation at the EU level are making Czech eurorealists within the Civic Democratic Party less eurosceptic. It is still too early to speak of any complete change within the party, however, and any evidence of a reorientation of the party's EU policy remains ambiguous.
  • Topic: Regional Cooperation, Treaties and Agreements
  • Political Geography: Europe, Lisbon