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Redefining European Economic Governance

Redefining European Economic Governance
Author: Michele Chang
Publisher: Routledge
Total Pages: 246
Release: 2016-04-14
Genre: Political Science
ISBN: 131763912X

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The global financial crisis and sovereign debt crisis exposed the inadequacy of European economic governance. Despite the multitude of new mechanisms and institutions that have arisen over the last few years, many contend that economic governance remains inadequate and the EU must integrate even further to calm still-volatile markets. A tension exists between creating effective instruments that will not overstep the authority delegated to an EU that has integrated economically but not politically. Can the EU’s economic governance system satisfy the demands of markets and politics? Relevant issues include the ability of supranational institutions to dictate policy to national governments, the harmonization of economic policies and institutions across Europe, and a substantial increase in the transfer of funds across borders. Can monetary union continue without political union? How will the new institutions alter the distribution of power between EU institutions as well as between member states? This edited volume analyzes the major policy challenges and institutional mechanisms at the EU- and international levels to combat the global financial crisis and the EU’s sovereign debt crisis such as financial integration, fiscal cooperation, and the rising power of the ECB. This book was published as a special issue of the Journal of European Integration.


EU Economic Governance in Action

EU Economic Governance in Action
Author: Sonja Bekker
Publisher:
Total Pages: 22
Release: 2014
Genre:
ISBN:

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New economic coordination has changed the landscape of EU governance (Amtenbrink, 2012). Its impact on the EU's social dimension is topic of political and scholarly debate. Some tend to argue that the EU has lost track of its social aspirations (e.g. Janssen, 2013; Watt, 2013; Clauwaert and Schömann, 2012), while others are more optimistic in their search for a new space for social Europe (e.g. Bekker and Klosse, 2013; Vanhercke, 2013). This paper adds to this discussion by analysing the interaction between four socio-economic coordination mechanisms joined within the European Semester 2013. Surveying the interaction between separate coordination mechanisms matches the notion that different governance modes are at least interrelated or even 'yoked together' (Armstrong, 2013; Trubek and Trubek, 2007). Using qualitative content analysis techniques, the paper addresses the interaction between the coordination mechanisms, both at the stages of target setting and of recommendation-giving to individual countries. The conclusion is that new economic governance is characterised by integrated socio-economic coordination, incorporating employment and social issues within economic coordination cycles, especially at the phase of giving recommendations. However, this does not necessarily mean that social-policy recommendations stemming from an economic coordination cycle always constrain the EU's social dimension.


European Economic Governance

European Economic Governance
Author: Willem Molle
Publisher: Routledge
Total Pages: 437
Release: 2011-03-01
Genre: Business & Economics
ISBN: 1136810048

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In the course of its development the EU has had to deal with an expanding policy agenda, covering ever more subjects and an increased diversity of instruments. It has also had to deal with an increased number of member states and an extended range of partners (regional authorities, non governmental organisations). These developments have greatly increased the risk of inconsistencies between the various policies pursued and between the various levels of competence for the same policy. Inconsistent policies are less effective than they ought to be. So, they imply a welfare loss. The EU has tried to cope with the challenge of consistency by adapting its governance. Traditionally it uses mainly the regulatory method. The effectiveness of this method has recently come into question. So alternative methods are now favoured. One is the financial method; which implies more expenditure via the EU budget. The other is coordination. The application of both methods has certain advantages and disadvantages. The problem for policy makers is then to determine the choice between the modes first and the optimal level of budgetary and coordination efforts next. Notwithstanding its obvious policy relevance the problem has got little attention from academia. This book sets out to contribute to a solution by following two approaches. The first is a systematisation of the theoretical and conceptual underpinnings of the financial and coordination methods. The second is an empirical investigation into a range of European policy processes, implying to different degrees budgetary outlays and coordination.


Legal Foundations of EU Economic Governance

Legal Foundations of EU Economic Governance
Author: Antonio Estella de Noriega
Publisher: Cambridge University Press
Total Pages: 289
Release: 2018-09-06
Genre: Law
ISBN: 110714101X

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A critical analysis of the legal dimension of European Union economic governance.


EU Socio-Economic Governance since the Crisis

EU Socio-Economic Governance since the Crisis
Author: Jonathan Zeitlin
Publisher: Routledge
Total Pages: 156
Release: 2019-12-01
Genre: Political Science
ISBN: 1351025600

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This book is the first to be dedicated entirely to the European Semester -- a new framework for policy coordination across European Union (EU) member states. The Semester represents a major advancement in EU governance. Created in 2010 in the wake of the financial and sovereign debt crises and revamped in 2015, it was intended to provide a new socio-economic governance architecture to coordinate national policies without transferring legal sovereignty to EU level. The papers in this collection are written by authors who have already contributed to this literature and have conducted original research for their studies. The book offers an empirical and theoretical assessment of the European Semester, examining its implications along three critical axes, running respectively between the economic and the social, the supranational and the intergovernmental, and the technocratic and democratic poles of EU governance. The book concludes that the European Semester challenges established theoretical understandings of EU governance, as it is a prime example of the complexity that supersedes simple polar oppositions. The chapters were originally published in a special issue of the Journal of European Public Policy.


Accountability in the Economic and Monetary Union

Accountability in the Economic and Monetary Union
Author: Menelaos Markakis
Publisher: Oxford University Press
Total Pages: 400
Release: 2020-04-02
Genre: Law
ISBN: 0192583956

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Following the financial and public debt crisis, the EU's Economic and Monetary Union (EMU) has been under intense political scrutiny. The measures adopted in response to the crisis have granted additional powers to the EU (and national) authorities, the exercise of which can have massive implications for the economies of the Member States, financial institutions and, of course, citizens. The following questions arise: how can we hold accountable those institutions that are exercising power at the national and EU level? What is the appropriate level, type and degree of accountability and transparency that should be involved in the development of the EU's governance structures in the areas of fiscal and economic governance and the Banking Union? What is the role of parliaments and courts in holding those institutions accountable for the exercise of their duties? Is the revised EMU framework democratically legitimate? How can we bridge the gap between the citizens - and the institutions that represent them - and those institutions that are making these important decisions in the field of economic and monetary policy? This book principally examines the mechanisms for political and legal accountability in the EMU and the Banking Union. It examines the implications that the reforms of EU economic governance have had for the locus and strength of executive power in the Union, as well as the role of parliaments (and other political fora) and courts in holding the institutions acting in this area accountable for the exercise of their tasks. It further sets out several proposals regarding transparency, accountability, and legitimacy in the EMU.


Liberalism in Crisis?

Liberalism in Crisis?
Author: Carlo Secchi
Publisher: Edward Elgar Publishing
Total Pages: 243
Release: 2014-05-14
Genre: Business & Economics
ISBN: 1781007799

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During the current economic crisis recurring questions on the validity of the liberal economic system have resurfaced concerning the role of the state and the free market, the proactive use of fiscal policies, economic nationalism, and environmental sustainablity. This volume covers this subject.


The New Economic Governance of the Eurozone

The New Economic Governance of the Eurozone
Author: Paul Dermine
Publisher: Cambridge University Press
Total Pages: 425
Release: 2022-07-28
Genre: Law
ISBN: 1009216597

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The Eurozone and the European Union have recently been confronted with a number of existential threats. The sovereign debt crisis and the COVID-19 pandemic have forced European decisionmakers to pass important reforms which have radically transformed the nature and scope of the Union's powers in the field of economic and fiscal policy. As the new economic governance of the Eurozone emerges as the main driver of integration in today's Europe, this book seeks to assess the solidity of the constitutional foundations supporting that system, and its compliance with the Union's core founding value: the rule of law. Using competence allocation, regulatory quality, access to external review and fundamental rights sustainability as analytical benchmarks, this book argues that the recent metamorphosis of Eurozone economic governance has not been accompanied by a parallel strengthening of its constitutional settlement, leading to a problematic misalignment between the Union's action and its governing principles.


EU External Action in International Economic Law

EU External Action in International Economic Law
Author: Mads Andenas
Publisher: Springer Nature
Total Pages: 340
Release: 2020-09-25
Genre: Law
ISBN: 9462653917

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The topic of this book is the external action of the EU within international economic law, with a special focus on investment law. The aim of the volume is to provide the reader with an appraisal of the most recent trends and developments that have characterised a field that has been rapidly evolving and in which the EU has imposed itself as a leading actor. The book is aimed at academics, practitioners and graduate students as well as at EU officials and judges, all of whom should find the subject matter discussed useful for keeping updated on a scholarly discussion of relevance to case law. Mads Andenas is Professor of Law at the Faculty of Law of the University of Oslo in Norway. Luca Pantaleo is Doctor of Law and Senior Lecturer in International and European Law at The Hague University of Applied Sciences in The Netherlands. Matthew Happold is Professor of Law at the Université du Luxembourg in Luxembourg. Cristina Contartese is Lecturer in Law at the European Law and Governance School in Athens, Greece.


Economic Government of the EU

Economic Government of the EU
Author: C. Meyer
Publisher: Springer
Total Pages: 285
Release: 2007-01-05
Genre: Political Science
ISBN: 023062572X

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The creation of Monetary Union marked a major step in the evolution of the European Union. Is the EU now taking the next step of deeper integration towards a fully-fledged economic government? The book seeks to answer this question by studying the evolution, execution and performance of new modes of economic policy co-ordination as potential stepping-stones towards more institutionalized forms of economic governance.