The Juncker Commission: a New Model of Presidentialism?
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Introduction to the Fiscal Framework of the EU
Introduction to the fiscal framework of the EU The Maastricht Treaty, the Treaty on Stability, Coordination and Governance, and the Stability and Growth Pact STUDY EPRS | European Parliamentary Research Service Author: Angelos Delivorias Members' Research Service PE 679.085 – February 2021 EN Introduction to the fiscal framework of the EU The Maastricht Treaty, the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union, and the Stability and Growth Pact Almost 30 years ago, the Maastricht Treaty laid the basis for economic and monetary union (EMU). Its fiscal provisions have been further developed by subsequent primary and secondary legislation – in particular, the Stability and Growth Pact with its preventive and corrective arms, and the Treaty on Stability, Coordination and Governance in EMU. These instruments together constitute the fiscal framework of the European Union. In early 2020, the European Commission launched a review of the EU's economic governance, seeking in particular to establish how effective the surveillance provisions have been in achieving their objectives. This paper aims to provide an introduction to the Union's economic governance, starting from a brief overview of the economic literature, and concluding with a look at possible developments that might follow from the review, not least examining the various calls for its amendment that have been put on the table. While the Commission's review has been put to one side while the immediate issues of the coronavirus pandemic are addressed, the economic consequences of the pandemic are themselves changing the context for the review. EPRS | European Parliamentary Research Service AUTHOR Angelos Delivorias, Members' Research Service This paper has been drawn up by the Members' Research Service within the Directorate-General for Parliamentary Research Services (EPRS) of the Secretariat of the European Parliament. -
Council and Commission Decision of 26 February 2009 on The
L 107/164 EN Official Journal of the European Union 28.4.2009 COUNCIL AND COMMISSION COUNCIL AND COMMISSION DECISION of 26 February 2009 on the conclusion of the Protocol to the Stabilisation and Association Agreement between the European Communities and their Member States, of the one part, and the Republic of Albania, of the other part, to take account of the accession of the Republic of Bulgaria and Romania to the European Union (2009/331/EC, Euratom) THE COUNCIL OF THE EUROPEAN UNION (2) The Protocol should be concluded, AND THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European HAVE DECIDED AS FOLLOWS: Community, and in particular Article 310 in conjunction with the second sentence of Article 300(2), first subparagraph, and the second subparagraph of Article 300(3) thereof, Article 1 The Protocol to the Stabilisation and Association Agreement Having regard to the Treaty establishing the European Atomic between the European Communities and their Member States, Energy Community, and in particular the second paragraph of of the one part, and the Republic of Albania, of the other part, Article 101 thereof, to take account of the accession of the Republic of Bulgaria and Romania to the European Union is hereby approved on behalf Having regard to the Act of Accession of Bulgaria and Romania of the European Community, the European Atomic Energy and in particular Article 6(2) thereof, Community and the Member States. Having regard to the proposal from the Commission, Article 2 Having regard to the assent of the European Parliament, The President of the Council shall, on behalf of the European Community and its Member States, deposit the instruments of Having regard to the Council’s approval pursuant to Article 101 approval provided for in Article 11 of the Protocol. -
EYCE Closing Presentation
CLICK TO EDIT MASTER TITLE STYLE 2018 European Year of Civil Engineers by Wlodzimierz Szymczak, ECCE Acting President In association with Sponsored by “CIVIL ENGINEERS AT THE HEART OF SOCIETY BUILDING LIFE QUALITY AND A SUSTAINABLE ENVIRONMENT” ECCE MEMBER COUNTRIES ECCE MEMBERS AND ASSOCIATE MEMBERS INTERNATIONAL PARTNERS WHAT WE WANT TO ACHIEVE • Pay social attention to the • Raise the visibility and prestige of fundamental role of civil engineers in the civil engineering profession in the the progress of the standards of the community of European countries. human life. • To stress the pivotal role that civil • Showcase what civil engineers are engineers play in addressing the and do to the European citizens. challenges that society faces nowadays and in the future. HOW WE PLANNED TO ACHIEVE IT • Proclamation of the 2018 EYCE has • Organization of series of events been widely disseminated. related to the civil engineering profession across Europe by our • Special logo to be used throughout members in their countries. 2018. • Marketing of the idea through press, • Standard presentation about the civil media, website, e-journal, etc. engineering delivered during all events of 2018 EYCE. • Communication of our initiative to the European authorities. PROCLAMATION COMMUNICATION OF THE EYCE TO THE EU AUTHORITIES Congratulations and support letters received by: Congratulations letters received by: • European Commission President Jean – • Commissioner Mariya Gabriel (Digital Claude Juncker Economy and Society) • Deputy Director General Irmfried -
The Luxembourgish EU Presidency and Financial Services – July-December 2015
The Luxembourgish EU Presidency and Financial Services – July-December 2015 The Luxembourgish EU Presidency and Financial Services 1 July – 31 December 2015 Kreab Brussels 2 avenue de Tervueren, 1040 Brussels, Belgium www.kreab.com/brussels – @KreabEU 1 The Luxembourgish EU Presidency and Financial Services – July-December 2015 Contents Political Context of the Luxembourgish Presidency 3 Priorities of the Luxembourgish Presidency 4 Key Financial Services Initiatives and Legislative Dossiers 5 Organisation of the Luxembourgish Presidency 12 Annex I – Contact Information 13 Permanent Representation of Luxembourg to the European Union 13 Economy and Finance 14 Government of Luxembourg 16 Ministry of Finance of Luxembourg 17 Bank of Luxembourg 18 Financial Regulatory Body of Luxembourg 20 Annex II – CVs of Key Luxembourgish Ministers 21 Annex III – Provisional Calendar 23 Annex IV – Key Council Meetings 25 Annex V – Country Fact Sheet 26 Annex VI – The EU Presidency 28 2 The Luxembourgish EU Presidency and Financial Services – July-December 2015 Political Context of the Luxembourgish Presidency The Grand Duchy of Luxembourg will assume its twelfth Presidency of the Council of the European Union on 1 July 2015. Luxembourg is one of the smallest countries in the EU, but it is also the wealthiest per capita. Following Italy and Latvia, Luxembourg is the third in this Presidency Trio, and will be the second full Presidency to work with the new Commission headed by compatriot and former Prime Minister Jean-Claude Juncker. Luxembourg is the seat of several major institutions such as the European Court of Justice, the European Investment Bank, and the Court of Auditors. Attitude toward the EU Luxembourg is one of the six founding members of the European Union and has historically played a key role in its formation. -
European Interview N°107 with Frédéric Mérand
EXCLUSIVE INTERVIEW WITH FRÉDÉRIC MÉRAND European interview n°107 «Engaging in politics is a source of th 13 July 2021 risk for the Commission. But it has become inevitable». Interview with Frédéric Mérand (PhD), scientific director of CÉRIUM and professor of political science at the University of Montreal. Author of “The Political Commissioner - A European Ethnography” The European Union is a unique system, neither about a ‘political Commission’, without necessarily an international organisation nor a federal giving it the same meaning. Ultimately, the book state. How did a Canadian sociologist become is about this experience of a political Commission interested in the inner workings of the European and, more broadly, about what I call ‘political work’, Commission? because I followed a Commissioner who, unlike many of his colleagues, was not at all embarrassed to say I did my thesis in the US on the European Union at a that he was doing politics and that he was a politician. time, at the turn century, when there was a great deal I wanted to see how this institution, which was not of excitement about Europe, when many people saw it programmed to do so, which in principle oscillates as the beginning of a federation or a superstate. Most of between its duty of independence, of guardian of the the leading political scientists writing about the Union treaties and of defence of the general interest, and were based in American universities. One of them, which moreover many Member States see as their George Ross, had written a few years earlier what Secretariat, could do politics in the most traditional has become a classic, “Jacques Delors and European sense of the word, namely take sides and make integration”, based on a one-year ethnographic choices according to values and ideology. -
European Stability Mechanism
~FACTSHEET~ European Stability Mechanism The Treaty establishing the European Stability Mechanism (ESM) has been ratified by all 17 euro area member states. It entered into force on 27 September 2012, nine months earlier than initially foreseen 1. The treaty was signed by euro area member states on 2 February 2012. The ESM board of governors held its inaugural meeting on 8 October 2012. The ESM is an intergovernmental institution based in Luxembourg, set up to provide financial assistance to eurozone member states experiencing, or being threatened by, severe financing problems, if this is indispensable for safeguarding financial stability in the euro area as a whole. The initial maximum lending capacity of the ESM is set at €500 billion. This is achieved with subscribed capital of €700 billion (€ 80 billion paid-in capital, the rest callable). A first version of the treaty was signed on 11 July 2011, but it was subsequently modified to incorporate decisions taken by the heads of state and government of the euro area on 21 July and 9 December 2011 to improve the effectiveness of the mechanism. As a permanent mechanism, the ESM will take over the tasks currently fulfilled by the European Financial Stability Facility (EFSF) and the European Financial Stabilisation Mechanism (EFSM). With the accelerated entry into force, the ESM will now operate alongside the EFSF for nine months. In March 2012, the Eurogroup agreed to raise the overall ceiling for ESM/EFSF lending to €700 billion 2. Already during the transitional period, until mid-2013, the ESM will be the main instrument for the financing of new programmes. -
Frans Timmermans Cc: Günther Oettinger, Jyrki Katainen, Karmenu Vella and Phil Hogan
Frans Timmermans Cc: Günther Oettinger, Jyrki Katainen, Karmenu Vella and Phil Hogan European Commission Rue de la Loi / Wetstraat 200 1049 Brussels 20th March 2018 Dear First Vice-President Timmermans, We are writing to you as civil society representatives (environmental NGOs, farmers, food movements, and animal welfare groups) regarding the Common Agricultural Policy (CAP) reform, following recent details given in Commission presentations to the Council and the Parliament on its substance, in particular the common EU objectives. 1) We would like to recall that for the next CAP to be truly results-oriented, make effective and efficient use of EU taxpayers’ money, and respond to citizens’ demands to better protect our natural resources, ensure the welfare of farmed animals and ensure many and diversified farms, the EU objectives should be specific, measurable and time-bound so that progress towards them can be properly monitored.1 2) Unfortunately we are very concerned that the objectives will be very general and vague, which will make it very easy for Member States to systematically choose the least ambitious measures without facing adequate monitoring or control—as experienced with the last reform’s ‘greening’, which added complexity and completely failed to address the challenges facing the sector. 3) Furthermore, objectives focussed on increasing production—such as ‘food security’—are not only unjustified in the context of overproduction and overconsumption in Europe, especially of animal products, but also risk undermining other objectives on the long-term resilience of the sector, the environment, animal welfare, climate, human health and fair income for the smallest and most sustainable farms. -
Review of the Juncker Commission
AT A GLANCE Plenary – October II 2019 Review of the Juncker Commission Prior to his election as President of the European Commission, Jean-Claude Juncker set out the policy priorities that would serve as the political mandate for the Commission's 2014-2019 term of office. Although the new Commission will not take office on 1 November as scheduled, Juncker is due to make a statement during the October II plenary session on his term as President, and a debate will review the work of his Commission. Background In July 2014, President-elect Juncker published an Agenda for jobs, growth, fairness and democratic change to mark a 'new start for Europe'. The aim of those political guidelines was to make a difference and deliver concrete results for citizens on ten priorities, ranging from the digital single market and energy union, to justice and fundamental rights, migration and security. Changes and challenges Since the Juncker Commission took office in November 2014, every year has brought its share of changes and challenges. For example, 2015 started with a series of terrorist attacks, followed later that year by record-high numbers of migrants and asylum-seekers arriving in the European Union. In 2016, the UK's referendum vote to withdraw from the EU, and the election of a new administration in the United States, required the EU to adapt its priorities in several areas, from security and defence to trade. Furthermore, ensuring energy independence, guaranteeing the respect of the rule of law in Member States and strengthening economic and monetary union were additional challenges influencing the agenda and ultimately forcing the Commission to adapt, through its annual work programmes and State of the Union addresses, its response and initiatives to an ever-changing environment. -
Factsheet: Delivering on the Capital Markets Union
Delivering on the CAPITAL MARKETS UNION #CMU | #InvestEU WHAT IS THE CAPITAL MARKETS UNION? The Capital Markets Union aims to get money - investments and savings - flowing across the EU so that it can benefit consumers, investors and companies. It is part of the Juncker Commission’s ambition to sustain growth in Europe. The Capital Markets Union aims to break down barriers that block cross-border investments in the EU and make it easier for companies and infrastructure projects to get the finance they need, regardless of where they are located. It also sets out to foster sustainable finance by directing investment to environmentally friendly projects. WHY CAPITAL MARKETS UNION MATTERS? More integrated financial markets create a cushion to absorb sudden shocks, and allow risk to be shared by private actors across EU borders, making the Economic and Monetary Union stronger and more resilient. This, in turn, can create an incentive for market participants to use the euro, therefore reinforcing its international role. WHAT ARE THE CURRENT ISSUES? Start-ups and small and High fixed costs EU households Investors European businesses medium-sized enterprises of up to 15% of save heavily, face many highly depend on banks need more funding for the amount raised but do not barriers for their financing (50% innovation and growth makes access make the when inves- of total financing), with (market-based sources of to stockmarkets most of their ting in other few alternative funding finance are currently less especially costly for savings EU countries sources than 15%) small businesses “The Capital Markets Union has a key role to play in strengthening Europe's Economic and Monetary Union and the euro. -
The Future of Europe the Eurozone and the Next Recession Content
April 2019 Chief Investment Office GWM Investment Research The future of Europe The Eurozone and the next recession Content 03 Editorial Publication details This report has been prepared by UBS AG and UBS Switzerland AG. Chapter 1: Business cycle Please see important disclaimer and 05 Cyclical position disclosures at the end of the document. 08 Imbalances This report was published on April 9 2019 10 Emerging markets Authors Ricardo Garcia (Editor in chief) Chapter 2: Policy space Jens Anderson Michael Bolliger 14 Institutional framework Kiran Ganesh Matteo Ramenghi 16 Fiscal space Roberto Scholtes Fabio Trussardi 19 Monetary space Dean Turner Thomas Veraguth Thomas Wacker Chapter 3: Impact Contributors Paul Donovan 23 Bond markets Elisabetta Ferrara Tom Flury 26 Banks Bert Jansen Claudia Panseri 29 Euro Achim Peijan Louis Pfau Giovanni Staunovo Themis Themistocleous Appendix Desktop Publishing 32 The evolution of the EU: A timeline Margrit Oppliger 33 Europe in numbers Cover photo 34 2020–2025 stress-test scenario assumptions Gettyimages Printer Neidhart + Schön, Zurich Languages English, German and Italian Contact [email protected] Order or subscribe UBS clients can subscribe to the print version of The future of Europe via their client advisor or the Printed & Branded Products Mailbox: [email protected] Electronic subscription is also available via the Investment Views on the UBS e-banking platform. 2 April 2019 – The future of Europe Editorial “Whatever it takes.” These words of Mario Draghi’s marked the inflection point in the last recession and paved the way to the present economic recovery. But as the euro celebrates its 20th birthday, the world and investors are beset again by recessionary fears, with risks mounting and likely to continue doing so in the coming years. -
Deepening the Emu: How to Maintain and Develop the European Social Model? a Study for the Federal Chancellery of Austria
DEEPENING THE EMU: HOW TO MAINTAIN AND DEVELOP THE EUROPEAN SOCIAL MODEL? A STUDY FOR THE FEDERAL CHANCELLERY OF AUSTRIA Sofia Fernandes and Kristina Maslauskaite Foreword by Jacques Delors OCTOBER 2013 STUDIES & REPORTS 101 The authors thank Yves Bertoncini (Director of “Notre-Europe-Jacques Delors Institute – NE-JDI”), Marjorie Jouen (Adviser of “NE-JDI”), Maria João Rodrigues (Member of the Board of Directors of “NE-JDI”) and Eulalia Rubio (Senior Research Fellow at “NE-JDI”) for their valuable comments and ideas, which helped to improve the quality of this study. The authors are grateful to the following experts for the fruitful exchange of views on the social dimension of the Economic and Monetary Union: Pervenche Berès (Chair of Committee on Employment and Social Affairs, European Parliament), Muriel Lacoue-Labarthe (Advisor for European and international finance affairs of the French Minister of Finance and Economic Affairs Pierre Moscovici), Philippe Pochet (General Director of the European Trade Union Institute), Franck Vandenbroucke (Affiliate Professor to the Den Uyl Chair at the University of Amsterdam) and Laurence Weerts (Member of Cabinet of Commissioner for Employment, Social Affairs and Inclusion Laszlo Andor). This paper benefited from a discussion held at the Federal Chancellery of Austria on 6 March 2013. We are grateful to participants, in particular to Dr. Stefan Imhof and Dr. Christa Peutl for their contributions to discussions held on that occasion. We are grateful to Marie Billotte for diligent and effective research -
Page 1 of 15 Mr Jean-Claude Juncker President European Commission Cc
Mr Jean-Claude Juncker President European Commission cc: Frans Timmermans, First Vice-President, in charge of Better Regulation, Inter-Institutional Relations, the Rule of Law and the Charter of Fundamental Rights Andrus Ansip, Vice-President for the Digital Single Market Jyrki Katainen, Vice-President for Jobs, Growth, Investment and Competitiveness Maroš Šefčovič, Vice-President for the Energy Union Vytenis Andriukaitis, Commissioner for Health and Food Safety Elžbieta Bieńkowska, Commissioner for Internal Market, Industry, Entrepreneurship and SMEs Violeta Bulc, Commissioner for Transport Miguel Arias Cañete, Commissioner for Climate Action and Energy Corina Creţu, Commissioner for Regional Policy Carlos Moedas, Commissioner for Research, Science and Innovation Cecilia Malmström, Commissioner for Trade Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs Tibor Navracsics, Commissioner for Education, Culture, Youth and Sport Günther Öttinger, Commissioner for Budget and Human Resources Marianne Thyssen, Commissioner for Employment, Social Affairs, Skills and Labour Mobility Karmenu Vella, Commissioner for Environment, Maritime Affairs and Fisheries Margrethe Vestager, Commissioner for Competition Brussels, 16 June 2017 Re: Contribute to economic growth and climate change mitigation through a EU Cycling Strategy Dear President Juncker, With this letter, signed by leaders from businesses, public authorities and civil society, we call upon the European Commission to unlock the potential for creating jobs