scholarly journals Controlled Dismantlement of the Euro Area in Order to Preserve the European Union and Single European Market

2012 ◽  
Author(s):  
Ernest Pytlarczyk ◽  
Stefan Kawalec
Keyword(s):  
European Union ◽  
Euro Area ◽  
European Market ◽  
The European Union ◽  
Single European Market

Growth and Competitiveness

2021 ◽  
pp. 35-50
Author(s):  
André Sapir
Keyword(s):  
European Union ◽  
European Market ◽  
High Tech ◽  
The European Union ◽  
Economic Entity ◽  
Single European Market ◽  
The World ◽  
Key Technologies ◽  
The Usa ◽  
The Eu

After two prosperous decades, the European Union suffered a serious setback in the late 1970s and early 1980s, with sluggish growth and weak competitiveness in high-tech sectors compared to the USA and Japan. The creation of the single European market in 1993 was a major boost to growth and competitiveness in Europe. Yet, today, even abstracting from the coronavirus crisis, the European Union again faces some economic troubles. Growth has been subdued for a while and the EU is suffering yet again from weak competitiveness in high-tech sectors compared to the USA and to China, which has replaced Japan as the main Asian powerhouse. At the same time, however, the geopolitical situation has changed dramatically. In the earlier days, the world was divided between East and West, and all three main economic powers, the EU, Japan, and the USA, were in the same political camp. Their rivalry was therefore purely economic. Today, there are political dividing lines between the three main economic powers. The EU’s competitiveness problem vis-à-vis China and the USA in some key technologies is therefore not just economic but also geopolitical. Yet, the European Union remains largely an economic entity, though it has started to think and even to act geopolitically. The obvious question is whether Europe will be able to repeat its achievement of nearly 30 years ago and come up with a new design that will boost its growth and competitiveness in this new geopolitical era, or whether this quest will prove elusory.

Controlled Dismantlement of the Eurozone: A Strategy to Save the European Union and the Single European Market

2013 ◽  
Vol 14 (1) ◽  
pp. 31-49 ◽  
Author(s):  
Stefan Kawalec ◽  
Ernest Pytlarczyk
Keyword(s):  
European Union ◽  
European Market ◽  
The European Union ◽  
Single Currency ◽  
European Currency ◽  
High Unemployment ◽  
Single European Market ◽  
Coordination System ◽  
Break Up ◽  
Fiscal Austerity

Abstract The problems with a single currency in Europe are neither temporary nor curable. Any persistent defence of the euro will result in a long-lasting recession and high unemployment in countries using fiscal austerity to pursue ‘internal devaluation’. It may lead to a revival of populist and nationalist movements, political collapse and disorderly eurozone break-up. This article argues for a controlled segmentation of the eurozone via the exit of the most competitive countries and an agreement on a new European currency coordination system.

Dramatis Institutiones

2017 ◽  
Author(s):  
C. Randall Henning
Keyword(s):  
European Union ◽  
Central Bank ◽  
International Monetary Fund ◽  
Euro Area ◽  
European Central Bank ◽  
The European Union ◽  
European Central ◽  
Regime Complex ◽  
Basic Facts ◽  
Institutional Conflict

The regime complex for crisis finance in the euro area included the European Council, Council of the European Union, and Eurogroup in addition to the three institutions of the troika. As the member states acted largely, though not exclusively, through the council system, these bodies stood at the center of the institutional mix. This chapter reviews the institutions as a prelude to examining the dilemmas that confronted them over the course of the crises. It presents a brief review of some of the basic facts about their origins, membership, and organization. Each section then delves more deeply into these institutions’ governance and principles to understand their capabilities and strategic challenges. As a consequence of different mandates and design, the European Commission, European Central Bank, and International Monetary Fund diverged with respect to their approach to financing, adjustment, conditionality, and debt sustainability. This divergence set the stage for institutional conflict in the country programs.

scholarly journals The Fiscal Compact and the European Constitutions: ‘Europe Speaking German’

2012 ◽  
Vol 8 (1) ◽  
pp. 1-7 ◽  
Author(s):  
LB ◽  
JHR
Keyword(s):  
European Union ◽  
Czech Republic ◽  
Monetary Union ◽  
Euro Area ◽  
Economic And Monetary Union ◽  
Economic Policies ◽  
The European Union ◽  
The Czech Republic ◽  
The United Kingdom ◽  
Fiscal Compact

In between the writing of this editorial and the publication of this issue of EuConst, the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union, in everyday parlance the ‘Fiscal Compact’, will have been signed by the representatives of the governments of the contracting parties — the member states of the European Union minus the United Kingdom and the Czech Republic. The Fiscal Compact is intended to foster budgetary discipline, to strengthen the coordination of economic policies and to improve the governance of the euro area.

The Single European Market in Goods

2018 ◽  
Author(s):  
Isidora Maletić ◽  
Catherine Barnard
Keyword(s):  
European Union ◽  
Administrative Law ◽  
Internal Market ◽  
Whole Body ◽  
The European Union ◽  
Policy Objective ◽  
Product Regulation ◽  
Single European Market ◽  
Integration Project ◽  
Administrative Tasks

The focus of this chapter is on the European Union administrative law that has arisen in the specific policy setting of the internal market. The creation of the internal market, which ‘shall comprise an area without internal frontiers in which the free movement of goods, persons, services and capital is ensured’, is at the heart of the European Union integration project and consequently also of the EU’s administrative network structure. A number of the other chapters that follow in this collection are closely related to the present discussion, either through the specific type of product concerned, or by virtue of exploring a particular policy objective intertwined with the broader framework of the internal market. This chapter concentrates on the internal market and its administration more narrowly understood. Its focus is mainly on the administrative tasks, structures, procedures, and enforcement in the field of product regulation. However, this should not overlook the extent to which the underlying provisions, principles, and practices in this field relate, more widely, to the whole body of EU administrative law.

EU Institutions Representing Member States’ Governments

2020 ◽  
Author(s):  
Eugenia Dumitriu Segnana ◽  
Alberto de Gregorio Merino
Keyword(s):  
European Union ◽  
Monetary Union ◽  
Euro Area ◽  
Central Place ◽  
Common Interest ◽  
Economic And Monetary Union ◽  
The European Union ◽  
Member States ◽  
National Policies ◽  
Greek Crisis

The Council of the European Union (EU) occupies a central place in the Economic and Monetary Union (EMU), even more so than in any other Union policies. It exercises in this area a variety of roles going from a forum for coordination of national policies to legislative functions and executive powers. The different crises that affected the Union and in particular the euro area in the last ten years have strengthened its prominent position, in no small part due to the Council’s ownership by the Member States. Alongside the Council, the Euro Group, which is presided by a fixed-term president, has developed itself as the informal forum where Ministers from the Member States whose currency is the euro discuss matters of common interest. Its role has been decisive, in particular in the Cypriot and Greek crisis, which could have put into question the very existence of the euro area as a whole.

Kształtowanie jednolitej wspólnej regulacji rynków rolnych w Unii Europejskiej i Polsce

2018 ◽  
Vol 72 ◽  
pp. 295-308
Author(s):  
Wiktoria Osdoba
Keyword(s):  
European Union ◽  
Agricultural Policy ◽  
Common Agricultural Policy ◽  
Individual Member ◽  
The European Union ◽  
Agricultural Market ◽  
Quota System ◽  
Single European Market ◽  
The Common ◽  
European Standards

Pending the entry into force of the Common Agricultural Organization of Agricultural Markets in 2007, there were twenty one coexisting industry market organizations as defined in the relevant basic EU regulations. Merging in one legal act the provisions of several dozen other EU regulations and looking at the single European market in a holistic and not sectoral way, illustrates the current way of running the Common Agricultural Policy, which seeks to comprehensively address the problems of the European agricultural market. From 1st September 2017, there has been a National Support Center for Agriculture, which took over the tasks of two liquidated agencies: the Agricultural Property Agency and the Agricultural Market Agency. Adaptation of the Polish legislation within the framework of agricultural policy will have to take into account the changes taking place in the Common Agricultural Policy in the future. From 1st October 2017, the sugar-producing quota system which existed for the last 50 years, setting the limits for individual Member States of the European Union, was terminated. This was the last system of agricultural quotas within the European Union. Following the harmonization of the Polish legislation with European standards, we are aware of the fact that the EU law is constantly facing changes.

Section III. Prospects for the European Union

2002 ◽  
Vol 181 ◽  
pp. 25-37
Keyword(s):  
European Union ◽  
Financial Markets ◽  
Euro Area ◽  
Domestic Demand ◽  
The European Union ◽  
Medium Term ◽  
Sharp Drop ◽  
External Demand ◽  
Stability Pact ◽  
Recent Developments

The outcome for growth in the Euro Area in the first quarter of 2002 was slightly weaker than our April projections. Output rose by 0.3 per cent relative to the previous quarter, following a decline of the same magnitude in the final quarter of last year. The recovery stemmed primarily from a sharp drop in imports of 0.8 per cent, rather than a pickup in domestic or external demand. The weaker outcome for the first quarter, coupled with recent developments in financial markets, dampens the outlook for the year as a whole. Industrial production rose by 0.8 per cent in March, but declined by 0.7 per cent in April and edged up by only 0.1 per cent in May, supporting our expectation that recovery will be gradual. We forecast growth of 1¼ per cent in the Euro Area this year, but anticipate a stronger improvement next year helped by a recovery of domestic demand. This will be supported by tax cuts in several countries, despite the fact that the Euro Area's three largest economies appear unlikely to meet their Stability Pact pledge of achieving a budget at or close to balance by 2004. We expect output in the Euro Area to grow by about 2½ per cent next year, and by about 2½ -2¾ per cent per annum throughout the medium-term.

scholarly journals Risks of a slow-motion EMU reform

2019 ◽  
Vol 16 (2) ◽  
pp. 226-237
Author(s):  
László Andor
Keyword(s):  
European Union ◽  
Monetary Union ◽  
Euro Area ◽  
Slow Motion ◽  
Critical Assessment ◽  
Economic And Monetary Union ◽  
Reform Process ◽  
The European Union ◽  
Eurozone Crisis ◽  
Pros And Cons

The article provides a critical assessment of how the Economic and Monetary Union was designed, implemented and reformed in the European Union and discusses the risks of a slow-motion reform process. It is argued that the fact that the euro area economy has recovered in the last few years has become a source of complacency and delays. In particular, powerful forces continue to downplay the importance of systemic reconstruction and the risk of disintegration remains high despite the relative tranquillity of markets in the 2014–2018 period. Finally, the article evaluates competing paradigms about the eurozone crisis and the pros and cons of fiscal capacity building.

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