If Scotland voted for independence, it would probably apply to rejoin the EU. Despite its unique history, it would have to follow the normal path to EU accession, says Anthony Salamone. Scots are not keen on the euro and fisheries would be a flashpoint. While the Scottish government would be well-advised not to seek opt-outs of the kind the UK […]
The conventional wisdom amongst many commentators has been that Brexit will render EU trade policy more protectionist, as the Union will be losing one of its more liberal member states. Ferdi De Ville and Gabriel Siles-Brügge argue that this is not necessarily the case. Instead, they highlight how the EU could render its trade policies more progressive by insisting on more stringent ‘level […]
Much of the European Parliament’s work rests on negotiations within parliamentary committees, as well as other informal negotiations that take place behind closed doors. But what determines the selection of the MEPs who participate in these negotiations? Drawing on a new study, Fang-Yi Chiou, Bjørn Høyland and Silje Synnøve Lyder Hermansen illustrate that loyalty to the leadership of the […]
In response to the increasing salience of climate change, there have been renewed efforts to enhance the green credentials of the EU’s institutions. As Tobias Tesche writes, these efforts include proposals for the European Central Bank and European Investment Bank to take climate change into greater consideration when making decisions. Yet not all of these proposals have been well […]
The so called ‘moral suasion’ hypothesis indicates that governments may implicitly force their domestic banks to hold a larger chunk of government bonds when they experience stress. But is this reason to shift responsibilities from national to supranational institutions? Orkun Saka argues that there is in fact a good reason for EU banks to hold their own country’s sovereign […]
Lorenzo Codogno and Mara Monti argue that Christine Lagarde’s challenges at the helm of the ECB remain daunting, despite smooth sailing during her first press conference and a notably different communication style. Issues will emerge from different sources, not least the ECB’s problematic relationship with political actors, but she appears well equipped to address these as they arise.
Christine Lagarde’s […]
If Article 50 enabled Brexit, does this mean that exit clauses make secessions from a political union more likely? Drawing on a new study, Martijn Huysmans and Christophe Crombez demonstrate that exit clauses which incorporate penalties for the seceding state can lead to more efficient exit decisions. They argue that further research into exit clauses might help enable efficient […]
An investigation published by the New York Times has raised concerns about the misuse of EU Common Agricultural Policy funding in several states in Central and Eastern Europe. Kira Gartzou-Katsouyanni and Philip Schnattinger argue that although the report should be welcomed, it provided a misleading impression of the wider issues with land distribution in post-communist Europe. The misuse of […]
The amount of legislation a political system produces is an important indicator of its performance. Yet as Dimiter Toshkov explains, when it comes to the adoption of new legislation, the last European Parliament and Commission were among the least productive in recent history. He argues that a less political and more pragmatic Commission may be more successful in finding […]
Brexit promises not only to have a major impact on British politics, but also on the nature of European integration. Drawing on a new book, Jarle Trondal, Stefan Gänzle and Benjamin Leruth explain why processes of differentiated integration and disintegration could play a greater role in the EU following Brexit.
The United Kingdom is set to become the first member […]
Banks in the euro area have stabilised since the financial crisis, but as Eleni Louri-Dendrinou and Petros Migiakis write, their profitability has not improved to the degree experienced in other countries such as the Nordics or the United States. With the post-crisis macro-economic environment now deteriorating, they argue it is vital policymakers focus on the creation of a genuine […]
Euroland or Neverland? Lorenzo Codogno argues that constrained monetary policy calls for a greater role for fiscal policy in supporting the Eurozone economy, as former ECB President Mario Draghi recently suggested. Yet of the three potential routes that could be taken in this regard, none seem destined to be implemented. Leaving aside structural issues, which may well prolong current […]
The EU has frequently been caricatured as a ‘faceless bureaucracy’, where rules and procedures take precedence over powerful personalities. Yet this depersonalisation of power has recently been challenged by the emergence of some visible, decisive figures. Jonathan White argues that while this may be seen as a welcome improvement by some observers, when power is located in a small, […]
Christine Lagarde will officially take over from Mario Draghi as the new President of the European Central Bank today. Sebastian Diessner explains that while Lagarde is widely expected to pursue similar policies to her predecessor, the politics surrounding her presidency may play out very differently.
The Eurozone’s monetary policy has become more contested and politically salient than almost ever before. In […]
The EU’s Conflict Minerals Regulation, which will come into force in 2021, aims to restrict the trade of minerals that are mined via forced labour and used to finance armed conflicts. As Dirk-Jan Koch and Olga Burlyuk explain, the EU attempted to learn from the mistakes of earlier legislation in the United States that had sought to tackle the […]
As a large currency union, the euro area sits between the two extremes of the US – with its high labour mobility and fully fledged federal fiscal union – and China – with its low labour mobility and central fiscal capacity. Corrado Macchiarelli and Fotis Mitropoulos write that while the US is normally regarded as a benchmark for integration […]
Outgoing ECB President Mario Draghi recently expressed support for a closer fiscal union in the Eurozone, including cross-border fiscal transfers. As Iain Begg writes, these statements have reinvigorated the debate between advocates for risk sharing and proponents of risk reduction. Draghi’s predecessor, Jean-Claude Trichet, has defended Draghi and his proposals against criticism from other former central bankers, but resistance […]
The EU is expected to make a decision this week on whether to open accession negotiations with Albania and North Macedonia. Frank Schimmelfennig and Ulrich Sedelmeier explain that EU enlargement policy has suffered from diminished credibility, both in terms of the EU’s promise of membership and its willingness to implement sanctions for non-compliance. The decision over Albania and North […]
Christine Lagarde, the former Managing Director of the International Monetary Fund, is expected to take over from Mario Draghi as the next President of the European Central Bank. David Hollanders argues that although Lagarde has been viewed by some observers as a progressive choice, there is little reason to believe she will produce a meaningful shift in the ECB’s […]