Offering a comparative examination of the constitutional implications of the Euro-crisis on vertical and horizontal relations of power in the EU, this book proposes new ways in which to perfect the governance of Economic and Monetary Union.
Within the framework of the new European economic governance, neoliberal views on wages have further increased in prominence and have steered various reforms of collective bargaining rules and practices. As the crisis in Europe came to be largely interpreted as a crisis of competitiveness, wages were seen as the core adjustment variable for ‘internal devaluation’, the claim being that competitiveness could be restored through a reduction of labour costs. This book proposes an alternative view according to which wage developments need to be strengthened through a Europe-wide coordinated reconstruction of collective bargaining as a precondition for more sustainable and more inclusive growth in Europe. It contains major research findings from the CAWIE2 – Collectively Agreed Wages in Europe – project, conducted in 2014–2015 for the purpose of discussing and debating the currently dominant policy perspectives on collectively-bargained wage systems under the new European economic governance.
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.
Employment policy in the European Semester : an introduction -- Theorizing the influence of the European Semester : mechanisms, conditions and policy change -- Croatia : cherry-picking from the European Semester -- Hungary : a case of neglect? -- Slovakia : reinforcing existing trajectories -- Slovenia : crisis pressure, socialization and strategic use of the European Semester -- How does the European Semester influence employment policies in Central and Eastern Europe? -- Conclusion.
Based on the research of the EU-6th framework funded research consortium on 'New Modes of Governance in the European Union', this volume explores the roots, execution and applications of new forms of governance and evaluates their success.
This book is the first study on the work of the Eurogroup - monthly informal meetings between euro area finance ministers, the Commission and the European Central Bank. Puetter convincingly demonstrates how this small, secretive circle of senior decision-makers shapes European economic governance through a routinised informal policy dialogue. Although the role of the Eurogroup has been contested since before the group's creation, its actual operation has never been subject to systematic evaluation. This book opens the doors of the meeting room and shows how an understanding of the interplay of formal provisions and informal processes is pivotal to the analysis of euro area governance. The book advances the conceptual understanding of informal negotiations among senior European and national decision-makers, and provides a unique in-depth analysis of historical episodes of policy coordination. As other areas of European decision-making rely increasingly on informal, voluntary policy coordination amongst member states, the Eurogroup model can be seen as a template for other policy areas.
The European Union of today cannot be studied as it once was. This original new textbook provides a much-needed update on how the EU's policies and institutions have changed in light of the multiple crises and transformations since 2010. An international team of leading scholars offer systematic accounts on the EU's institutional regime, policies, and its community of people and states. Each chapter is structured to explain the relevant historical developments and institutional framework, presenting the key actors, the current controversies and discussing a paradigmatic case study. Each chapter also provides ideas for group discussions and individual research topics. Moving away from the typical, neutral account of the functioning of the EU, this textbook will stimulate readers' critical thinking towards the EU as it is today. It will serve as a core text for undergraduate and graduate students of politics and European studies taking courses on the politics of the EU, and those taking courses in comparative politics and international organizations including the EU.
The global economic and financial crisis that started in 2007 exposed serious flaws in the euro's original design. This report examines why Europe's economic and monetary union was so badly affected by the crisis, and assesses whether further changes need to be made to the structure of economic governance that underpins it. A Chatham House, Elcano and AREL Report
The idea of building an economy which supports sustainable development without degrading the environment has been widely debated and broadly embraced by politicians, civil servants, the media, academics and the public alike for several decades. This book explores the measures being trialled at various levels of governance in the European region to reduce the adverse impacts of human behaviour on the environment whilst simultaneously addressing society's economic and social needs as part of the intended shift towards a 'green' economy. It includes European case studies that scrutinise the efforts being undertaken at sub-national, national and regional tiers of governance to facilitate the transition to a low carbon economy. This book will be of interest to graduate students, researchers, practitioners, and policy makers working in environmental governance, European studies, environmental studies, political science, and management studies.
Global finance is in the middle of a radical transformation fueled by innovative financial technologies. The coronavirus pandemic has accelerated the digitization of retail financial services in Europe. Institutional interest and digital asset markets are also growing blurring the boundaries between the token economy and traditional finance. Blockchain, AI, quantum computing and decentralised finance (DeFI) are setting the stage for a global battle of business models and philosophies. The post-Brexit EU cannot afford to ignore the promise of digital finance. But the Union is struggling to keep pace with global innovation hubs, particularly when it comes to experimenting with new digital forms of capital raising. Calibrating the EU digital finance strategy is a balancing act that requires a deep understanding of the factors driving the transformation, be they legal, cultural, political or economic, as well as their many implications. The same FinTech inventions that use AI, machine learning and big data to facilitate access to credit may also establish invisible barriers that further social, racial and religious exclusion. The way digital finance actors source, use, and record information presents countless consumer protection concerns. The EU’s strategic response has been years in the making and, finally, in September 2020 the Commission released a Digital Finance Package. This special issue collects contributions from leading scholars who scrutinize the challenges digital finance presents for the EU internal market and financial market regulation from multiple public policy perspectives. Author contributions adopt a critical yet constructive and solutions-oriented approach. They aim to provide policy-relevant research and ideas shedding light on the complexities of the digital finance promise. They also offer solid proposals for reform of EU financial services law.