DOCSLIB.ORG

Crisis in the Eurozone Pdf Free Download

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Crisis in the Eurozone Pdf Free Download CRISIS IN THE EUROZONE PDF, EPUB, EBOOK Costas Lapavitsas | 268 pages | 09 Nov 2012 | Verso Books | 9781844679690 | English | London, United Kingdom Crisis in the Eurozone PDF Book For example, a crisis in one country could force eurozone banks to sell that nation's debt, leaving domestic banks unable to cope. The European Central Bank is being a watchdog here and Banks in Bulgaria have been given time to create additional capital buffers till April Retrieved 11 July Retrieved 11 February Archived from the original on 4 December Comparative Political Studies. As of January , a group of 10 central and eastern European banks had already asked for a bailout. Federal Union. The major disagreements and clashes started Consequently, Greece was "punished" by the markets which increased borrowing rates, making it impossible for the country to finance its debt since early The Lisbon Council. The Balance uses cookies to provide you with a great user experience. Archived from the original PDF on 9 February In mid, due to successful fiscal consolidation and implementation of structural reforms in the countries being most at risk and various policy measures taken by EU leaders and the ECB see below , financial stability in the eurozone has improved significantly and interest rates have steadily fallen. In the idea was picked up by the European Central Bank. The 7-point plan followed an intergovernmental treaty approved on December 9, , where EU leaders agreed to create a fiscal unity parallel to the monetary union that already exists. Advanced Manufacturing Clusters in various nations will greatly help, but understanding of global-age expansion of value offerings with fine production is a new art and commercialization to nations a new science. Retrieved 3 December ESBies could be issued by public or private-sector entities and would "weaken the diabolic loop and its diffusion across countries". According to Steven Erlanger from The New York Times, a "Greek departure is likely to be seen as the beginning of the end for the whole euro zone project, a major accomplishment, whatever its faults, in the post-War construction of a Europe "whole and at peace". Read The Balance's editorial policies. Retrieved 24 May Retrieved 13 May European Commission. Kostis, D. Member States Schengen Area. Rich countries like Germany have insisted on austerity measures designed to bring down debt levels, while the poorer countries facing the problems complain that austerity is only hindering economic growth prospects further. First, Italy, Spain, and France are calling for euro bonds, whether limited in time corona bonds or not euro bonds , to reduce borrowing costs and increase debt sustainability in the South, while Germany, the Netherlands, Austria, and Finland continue to reject them. Retrieved 4 April It's hoped that this will get the economy moving in Greece and Portugal. Consequently, there had been a resentment against Germany in the international arena. The economic damage of Covid is now crushing tax revenue. German Health Minister Jens Spahn tests positive for coronavirus. Retrieved 11 June Greece experienced positive economic growth in each of the three first quarters of It could have been worse than the sovereign debt crisis. The euro replaced the ECU at the exchange rate markets, on 1 January The Financial Times. European Central Bank. While the challenges ahead are enormous, the UAE sees tremendous opportunity for governments and business leaders to work together through trade and investment to reshape policies, create new partnerships, leverage new technologies, and build a future global economy that is more diverse, inclusive, and sustainable. Stock markets reacted strongly to the ECB rate cuts. Investment Europe. Retrieved 26 February The Guardian. In total, UN member states recognized Kosovo at some point, of which 15 later withdrew their recognition. Crisis in the Eurozone Writer Randall 25 June This would all end in runaway inflation. Archived from the original PDF on 15 November It includes: [] []. Download as PDF Printable version. Archived from the original on 7 October So these companies really depend on banks providing liquidity," Mayer warned. The UAE is continuing to refine and implement policies that will maximize competitiveness, increase collaboration, and provide opportunities to facilitate trade and investment. Archived from the original on 3 November Consequently, Greece was "punished" by the markets which increased borrowing rates, making it impossible for the country to finance its debt since early Datos macro. Archived from the original on 29 November He said the European heads of state had given the green light to pilot projects worth billions, such as building highways in Greece. Banks in Frankfurt, Germany's financial hub, are facing job losses due to the coronavirus pandemic, a study has found. But this is only part of the picture, particularly as France is one of the main net contributors to the EU. Concepts, acronyms, and jargon Agencies Books Companies Cities with more than , inhabitants Largest cities by population within city limits Directives Tallest buildings Terrorist incidents Vehicle registration plates. Retrieved 7 November Retrieved 7 December Ahmad Belhoul Al Falasi, underlined in his Keynote Address for the SME Pillar, that it is crucial for Startups and SMEs to be given opportunities to bounce back from the impact of pandemic and provide a conducive environment that will empower them to have the capability of supporting growth and success. Retrieved 21 November Never before have the Retrieved 14 May Archived from the original on 14 March Indeed, this was true even of the first emergence of the current pandemic. Crisis in the Eurozone Reviews Having instability and the public debt issue still not solved, the contagion effects and instability would spread into the system. The Economist provides a somewhat modified approach to saving the euro in that "a limited version of federalisation could be less miserable solution than break- up of the euro". Since the financial crisis of — , the eurozone has established and used provisions for granting emergency loans to member states in return for enacting economic reforms. But while consolidation has been talked about for several years, it is only just beginning, thanks to the ECB's easing of rules this summer. As a result, the investors sold the bonds of these countries to purchase the bonds of more credible countries like Germany and France. Retrieved 29 April The pandemic has significantly impacted global markets that created new challenges for trade and investment. The crisis subsequently spread to Ireland and Portugal, while raising concerns about Italy, Spain, and the European banking system, and more fundamental imbalances within the eurozone. Italy's Intesa Sanpaolo got shareholder approval this summer to acquire UBI Banca, creating the country's largest bank by assets and the eurozone's second-biggest by market capitalization. Portugal and Italy are expected to progress to the turnaround stage in spring , possibly followed by Spain in autumn, while the fate of Greece continues to hang in the balance. Archived from the original on 7 April Spain never officially received a bailout programme. Views Read Edit View history. Shambaugh, Georgetown University. Economist Paul Krugman wrote in March " These amounts will be paid to Cyprus through regular tranches from 13 May until 31 March Retrieved 4 April Retrieved 10 October Archived from the original on 21 July Mergers and acquisitions would allow lenders to slash costs and diversify income sources and risks. The uncertainty of the European Central Bank to act in such a situation led to a liquidity crisis and an erosion of the credibility of the European Union. Environment 3 days ago. Bulgarian lev Croatian kuna Danish krone. Thereafter these countries as a group would no longer need to import capital. Instead weak European countries must shift their economies to higher quality products and services, though this is a long-term process and may not bring immediate relief. Archived from the original on 24 January Crisis countries must significantly increase their international competitiveness to generate economic growth and improve their terms of trade. Digital Be informed with the essential news and opinion. We ask the Council to consider these Proposals as a matter of urgency by the end of The positive economic outlook for Greece—based on the return of seasonally adjusted real GDP growth across the first three quarters of —was replaced by a new fourth recession starting in Q Why hasn't the continent's canniest politician sprung into action? Retrieved 1 August Nicolas, and Bazi The so-called Eurobond was proposed as a radical solution—a security that was jointly underwritten by all eurozone member states. He and Stark were both thought to have resigned due to "unhappiness with the ECB's bond purchases , which critics say erode the bank's independence". Harmonization or centralization in financial regulations could have alleviated the problem of risky loans. Crisis in the Eurozone Read Online There is a consensus that the root of the eurozone crisis lay in a balance-of-payments crisis a sudden stop of foreign capital into countries that were dependent on foreign lending , and that this crisis was worsened by the fact that states could not resort to devaluation reductions in the value of the national currency to make exports more competitive in foreign markets. Articles and were meant to create disincentives for EU member states to run excessive deficits and state debt, and prevent the moral hazard of over-spending and lending in good times. Eurozone countries could create preferential treaties for their members only and exclude EU countries that don't have the euro. Learn more and compare subscriptions. Business bankruptcies as a result of quarantine measures could therefore trigger a cascade of bank insolvencies. Retrieved 28 September Archived from the original on 18 April The ECB is entitled to authorise the design and printing of euro banknotes and the volume of euro coins minted, and its president is currently Christine Lagarde.
Load more

Recommended publications
  • Departure from the Schengen Agreement Macroeconomic Impacts on Germany and the Countries of the European Union
    GED Study Departure from the Schengen Agreement Macroeconomic impacts on Germany and the countries of the European Union GED Study Departure from the Schengen Agreement Macroeconomic impacts on Germany and the countries of the European Union Authors Dr. Michael Böhmer, Jan Limbers, Ante Pivac, Heidrun Weinelt Table of contents 1 Background Information 6 2 Methodological approach 7 3 Results 9 4 Further costs of departure from the Schengen Agreement 13 Further economic impact 13 Political impact 14 Social significance 14 5 Conclusion 15 Literature 16 Imprint 18 5 1 Background Information The Schengen Agreement entered into force in 1995 and of checks at EU internal borders, on Germany and other EU today it is comprised of 26 states. This includes all European countries, as well as for the European Union as a whole. The Union members with the exception of the United Kingdom, evaluation period extends to the year 2025. Ireland, Romania, Bulgaria, Cyprus and Croatia, as well as the non-EU countries of Norway, Iceland, Liechtenstein and Switzerland. The agreement provides for the abolition of the requirement to check persons at internal borders within the Schengen area. The Convention Implementing the Schengen Agreement also regulates the standardisation of entry and residency requirements, as well as, the issuing of visas for the entire Schengen area. At the time, police and judicial cooperation measures were also agreed upon, in addition to asylum provisions. In the wake of sharply rising refugee movements into Europe, a partial restoration of border controls has been implemented. European Union countries have seen a significant increase in asylum seekers.
    [Show full text]
  • The Dublin Regulation
    1 The Dublin Regulation → Analysis of the Dublin System, perceived to cause a disproportionate burden to the expense of the external border countries of the EU and the reason for its continuous implementation despite persisting criticism Author: Laura Helena R. Suy Thesis Supervisor: Bjørn Møller Global Refugee Studies Aalborg Universitet København (AAU-Cph) 10th Semester, Master Thesis Spring 2014 2 List of Contents Acknowledgments ...................................................................................................................................... 3 Abbreviation List ....................................................................................................................................... 4 Abstract ...................................................................................................................................................... 5 Introduction ............................................................................................................................................... 6 Methodology & Limitations .................................................................................................................... 8 Chapter 1: History & Content of the Dublin System .............................................................................. 9 1.1. The Dublin System: Content ............................................................................................................. 9 1.1.1. The Dublin Convention (1990/1997) .....................................................................................
    [Show full text]
  • Chapter 1 the Present and Future of the European Union, Between the Urgent Need for Democracy and Differentiated Integration
    Chapter 1 The present and future of the European Union, between the urgent need for democracy and differentiated integration Mario Telò Introduction The European Union has experienced an unprecedented multi-dimensional and prolonged crisis, a crisis which cannot be understood in isolation from the international context, with major global economic changes to the detriment of the West. Opinions differ as to the overall outcome of the European policies adopted in recent years to tackle the crisis: these policies saved the single currency and allowed for moderate growth, but, combined with many other factors, they exacerbated the crisis of legitimacy. This explains the wave of anti-European sentiment in several Member States and the real danger that the European project will collapse completely. This chapter analyses the contradictory trends at play and examines more closely how to find a way out of this crisis – a way which must be built around the crucial role of the trade union movement, both in tackling Euroscepticism and in relaunching the EU. This drive to strengthen and enhance democracy in the euro area, and to create a stronger European pillar of social rights, will not be successful without new political momentum for the EU led by the most pro-European countries. The argument put forward in this chapter is that this new European project will once again only be possible using a method of differentiated integration. This paper starts with two sections juxtaposing two contradictory sets of data. On the one hand, we see the social and institutional achievements of the past 60 years: despite everything, the EU is the only tool available to the trade union movement which provides any hope of taming and mitigating globalisation (Section 1).
    [Show full text]
  • The European Union: Questions and Answers
    The European Union: Questions and Answers Updated October 27, 2020 Congressional Research Service https://crsreports.congress.gov RS21372 SUMMARY RS21372 The European Union: Questions and Answers October 27, 2020 The European Union (EU) is a political and economic partnership that represents a unique form of cooperation among sovereign countries. The EU is the latest stage in a process of integration Kristin Archick begun after World War II, initially by six Western European countries, to foster interdependence Specialist in European and make another war in Europe unthinkable. The EU currently consists of 27 member states, Affairs including most of the countries of Central and Eastern Europe, and has helped to promote peace, stability, and economic prosperity throughout the European continent. How the EU Works The EU has been built through a series of binding treaties. Over the years, EU member states have sought to harmonize laws and adopt common policies on an increasing number of economic, social, and political issues. EU member states share a customs union; a single market in which capital, goods, services, and people move freely; a common trade policy; and a common agricultural policy. Nineteen EU member states use a common currency (the euro), and 22 member states participate in the Schengen area of free movement in which internal border controls have been eliminated. In addition, the EU has been developing a Common Foreign and Security Policy (CFSP), which includes a Common Security and Defense Policy (CSDP), and pursuing cooperation in the area of Justice and Home Affairs (JHA) to forge common internal security measures. Member states work together through several EU institutions to set policy and to promote their collective interests.
    [Show full text]
  • Britain, Ireland and Schengen: Time for a Smarter Bargain on Visas Michael Emerson No
    Britain, Ireland and Schengen: Time for a smarter bargain on visas Michael Emerson No. 249, August 2011 Given Britain’s desire to maintain its own border controls, it will not join the EU’s passport-free ‘Schengen’ area in the foreseeable future. Ireland also has to stay out because it shares a common travel area with the UK. But there is now mounting evidence that this situation hurts tourism and businesses in Britain and Ireland. Non- European travellers can move freely between Schengen countries with a single visa, and many skip the further hassle of getting visas to visit Britain or Ireland. Already the Schengen area has an agreement to facilitate Chinese group tourism, which is growing fast, and from which the UK and Ireland are excluded. This problem could be overcome if Britain, Ireland and the Schengen countries would agree on ‘mutual recognition’ of the visas they issue, without the UK or Ireland having to scrap their border controls. or the present UK government, full A case of simple economics for Britain accession to the Schengen area, a passport- and Ireland free travel area covering most of Europe, is F For many people, the cost and hassle of obtaining a red line that it will not cross. Ireland shares a common travel area and land border with the UK visas for business purposes or to go on holiday and is also bound by this decision. However, it is act as a deterrent. One of the achievements of the becoming increasingly clear that the UK, along EU internal market, with free movement of with Ireland, is suffering serious economic and goods, services, capital and people, is that visitors reputational costs as a result of its separate visa from the rest of the world view the Union as a and border management policies.
    [Show full text]
  • Towards a New Pact for Europe
    TOWARDS A NEW PACT FOR EUROPE The New Pact for Europe project is supported by a large transnational consortium including the King Baudouin Foundation, Bertelsmann Stiftung, Allianz Kulturstiftung, BMW Foundation, Calouste Gulbenkian Foundation, European Cultural Foundation, European Policy Centre, “la Caixa” Foundation, Network of European Foundations, Open Estonia Foundation, Open Society Initiative for Europe, Stiftung Mercator and Svenska Kultur Fonden Promoting the European Debate [email protected] www.newpactforeurope.eu TOWARDS A NEW PACT FOR EUROPE SECOND REPORT October 2014 NEW PACT FOR EUROPE: SECOND REPORT TOWARDS A NEW PACT FOR EUROPE A publication of the King Baudouin Foundation, the Bertelsmann Stiftung and the European Policy Centre (EPC) RAPPORTEUR Janis A. Emmanouilidis, European Policy Centre (EPC) EDITING Jacki Davis, Meade Davis Communication COORDINATION Gerrit Rauws, Director KING BAUDOUIN FOUNDATION Stefan Schäfers, European Programme Advisor Anneke Denecker, Assistant COORDINATION Joachim Fritz-Vannahme, Director BERTELSMANN STIFTUNG Andrej Stuchlik, Project Manager GRAPHIC DESIGN Margarida Oliveira, Forma Design ILLUSTRATION Inês do Carmo This publication can be downloaded free of charge from www.kbs-frb.be, www.epc.eu and www.newpactforeurope.eu This publication is available free of charge: order online from www.kbs-frb.be, by e-mail sent to [email protected] or by calling or faxing the King Baudouin Foundation’s Contact Centre T +32 70 233 728, F +32 70 233 727 Legal deposit: D/2893/2014/35 ORDER NUMBER:
    [Show full text]
  • Chapitre 0.Indd
    Crosswalking EUR-Lex Crosswalking OA-78-07-319-EN-C OA-78-07-319-EN-C Michael Düro Michael Düro Crosswalking EUR-Lex: Crosswalking EUR-Lex: a proposal for a metadata mapping a proposal for a metadata mapping to improve access to EU documents : to improve access to EU documents a proposal for a metadata mapping to improve access to EU documents to access improve mapping to a metadata for a proposal The Oce for Ocial Publications of the European Michael Düro has a background The Oce for Ocial Publications of Communities oers direct free access to the most complete in information science, earned a Masters the European Communities collection of European Union law via the EUR-Lex online in European legal studies and works in is the publishing house of the institu- database. the EUR-Lex unit of the Oce for Ocial tions, agencies and other bodies of the Publications of the European The value of the system lies in the extensive sets of metadata European Union. Communities. which allow for ecient and detailed search options. He was awarded the The Publications Oce produces and Nevertheless, the European institutions have each set up Dr. Eduard-Martin-Preis for outstanding distributes the Ocial Journal of the their own document register including their own sets of research in 2008 by the University of European Union and manages the metadata, in order to improve access to their documents and Saarland, Germany, for this thesis. EUR-Lex website, which provides direct meet the increasing need for transparency. free access to European Union law.
    [Show full text]
  • Germany, the Schengen Crisis and Frontex: a Funny Kind of Pro-Europeanism (ARI)
    Area: Europe ARI 99/2011 Date: 26/5/2011 Germany, the Schengen Crisis and Frontex: A Funny Kind of Pro-Europeanism (ARI) Roderick Parkes* Theme1: Is Germany’s new position on Schengen a sign of the ‘normalisation’ of its European policy? Summary: Germany’s enthusiasm for the current processes of widening and deepening the Schengen Area has visibly cooled. This has been interpreted as a sign of the country’s new euroscepticism. The reality is rather different. Berlin’s reassessment of these rather mechanistic processes actually shows a new sense of engagement on behalf of free movement. This engagement is not, however, without its drawbacks. Analysis: The EU’s passport-free travel area was always considered a success story. It has proved that an EU-wide project, with decision-making based in Brussels, can be firmly anchored in the popular imagination. Through its widening from an initial five states to today’s 25 members, the Schengen Area has overcome the differences between eastern and western Europe and has made real the principle of solidarity between European states. Through the deepening of cooperation from low-key transgovernmentalism in the 1980s to full-blown communitarised policymaking in the last decade, the Schengen project has shown that European governments trust each other sufficiently to work together even on the most sensitive matters. Moreover, the free movement of persons has been perhaps the most emblematic of European projects, regularly cited as a mainstay of the EU’s popular legitimacy. The German government has long regarded Schengen’s success as a particular feather in its cap.
    [Show full text]
  • Contesting Europeanism: Migrant Solidarity Activism in the European Union
    CONTESTING EUROPEANISM: MIGRANT SOLIDARITY ACTIVISM IN THE EUROPEAN UNION CELINE CANTAT CMRB, UEL / MIGRINTER, UNIVERSITE DE POITIERS INTEGRIM ONLINE PAPERS Nº8/2015 “The research leading to these results has received funding from the European Union's Seventh Framework Programme (FP7/2007-2013) under grant agreement n° 316796” Introduction In this paper, I present some of the findings emerging from my PhD research, which is concerned with the discourses and practices of pro-migrant organisations in the European Union (EU). This topic deals with fundamental questions addressing the core of the European project: the extent to which the European Union welcomes and accommodates non-European migrants can indeed be conceptualised as a test-case for claims of a post-national and cosmopolitan Europe. Soysal (1994), for example, has argued on numerous occasions that, in western European societies and under the pressure brought about by the experience of post-war immigration, national citizenship is losing ground to a more universal model of membership grounded in a deterriorialised notion of personal rights. In this perspective, European citizenship, perceived as a post-national relation between a new form of political entity and the residents of its territory, has been upheld as possessing a great potential for challenging the national concept of citizenship and providing protection and rights outside the framework of the state-citizen relationship. My PhD research proposes to examine such claims by, first, interrogating the nature of the European Union and the associated notions of European identity and citizenship and, second, looking at the types of mobilisation emerging in support of migrants and the impact of these mobilisations on dominant notions of Europeanness.
    [Show full text]
  • European Interview with Jacques BARROT,Former Vice-President Of
    INTERVIEW European Interview n°56 14th June 2011 “Immigrants who fit in well can add value to European society, stimulate it and facilitate its opening onto the world” European Interview with Jacques BARROT, former Vice-President of the European Commission for Trans- port, then for Justice, Freedom and Security, member of the Constitutional Council of the French Republic, former minister result there has been a real confidence crisis between 1. In the present unstable geopolitical context the Member States. It is now urgent, as requested in North Africa, around 20,000 migrants[1], by the European Commissioner for Internal Affairs, mainly from Tunisia, have entered the European Cecilia Malmström, to give the European Commission Union illegally. This movement has fed European the responsibility of ensuring that these rules are im- concern, contrasting with support for the demo- plemented and if necessary for it to authorise exemp- cratic revolutions ongoing in these countries. tions that will enable the re-establishment of inter- How do you see the present tension? How can nal border controls in the event of serious, specific Europe show that it supports the countries in circumstances. However guidelines should be enough Northern Africa? without having to question rules that are specific to the Schengen area and which are a precious asset for Excessive fear has been maintained by simplistic po- all Europeans. pulist response without there being any estimation of what the real dangers are. It is true that the situation 3. On 3rd May last, the European Commission in Libya could be the cause for real concern because of published a Communication on migration the great number of sub-Saharan Africans living there.
    [Show full text]
  • The French Presidency's European Pact on Immigration and Asylum
    No. 170 y September 2008 ell before the French Presidency took over the The French Presidency’s European W European Council in July 2008, it was well known that Pact on Immigration and Asylum: immigration was going to constitute one of its central priorities. The Intergovernmentalism vs. Europeanisation? French enthusiasm coincided with Security vs. Rights? an increasing interest by Barroso’s Commission in this domain.1 The Sergio Carrera & Elspeth Guild French government and the European Commission started to Commission’s priorities, or does it rather represent a fine-tune their respective strategies and ‘the way competing model between ‘more Europe’ and the forward’ through a series of informal meetings. This principle of subsidiarity over immigration, borders and materialised in the presentation of two policy outputs: asylum? First, a Commission Communication on a Common Immigration Policy for Europe and another on a Policy Plan on Asylum;2 and second, various drafts of the I. The European Pact on Immigration and French Presidency’s European Pact on Immigration and Asylum: Context and Key Issues Asylum, the latest of which appeared on September The Pact constitutes a political document, and therefore 3rd. This Policy Brief refers to all previous drafts a non-legally binding act, providing the general lines offered up for public comment so far. and principles expected to guide future EU policies on The intersection between these initiatives raises a immigration, asylum and border management. Indeed, number of questions: First, what are the nature, context it needs to be read in conjunction with the current and key issues of the Pact? Does it present anything policy processes paving the way for the adoption of the really new to the current state of affairs in EU law and next multi-annual (five-year) programme in the fields policy? Second, does the EU really need a pact on related to an Area of Freedom, Security and Justice 3 immigration and asylum, given the ongoing processes (AFSJ).
    [Show full text]
  • One Size Does Not Fit All: European Integration by Differentiation
    POLICYBRIEF ISSUE 3 | SEPTEMBER 2018 ONE SIZE DOES NOT FIT ALL: EUROPEAN INTEGRATION BY DIFFERENTIATION Maria Demertzis A BARE-BONES PLUS CLUBS EUROPE Deputy Director, Bruegel Common court system Jean Pisani-Ferry Mercator Senior Fellow at Club 1 Club 2 Club 3 Club 4 Bruegel Economic Migration, Security Other and Monetary Asylum and and foreign policies André Sapir Union Schengen policy Senior Fellow, Bruegel Common base (treaty, Council, Commission, Parliament) Thomas Wieser Non-resident Fellow, Source: Bruegel Bruegel THE ISSUE Guntram Wolff Reforming the governance of the European Union has become urgent for three reasons: Director, Bruegel to better deal with politically-sensitive topics, to manage greater external challenges and because future EU enlargement will increase the diversity of the bloc’s member- ship. The answer to disagreement typically has been qualified majority voting, but on sensitive topics, the EU has increasingly moved to unanimity and heavy European Council involvement, which has often not delivered results. The alternative answer has been a Europe of multiple speeds of integration with one shared goal for all, increasing political tensions. A different approach is now needed to move Europe forward. POLICY CHALLENGE Two options would be a Europe of concentric circles and a Europe of ‘clubs’, but the former would cement tensions between the inner and the outer circles, while the latter would lead to unclear structures and an end to cohesion. However, a governance model could combine the two approaches. The model would be based on a strong ‘bare-bones EU’ formed by the single market, trade and accompanying policies, the European institutions, treaties, rule of law and a commitment to fundamental EU values.
    [Show full text]