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EU Monitor

The series "EU Monitor" focuses on political, economic and monetary developments in the enlarged EU. The spectrum ranges from political commentaries and reform of the EU institutions to matters pertaining to the European Economic and Monetary Union, financial-market and banking aspects, and the consequences of enlargement for specific sectors and countries.

5 Documents
July 9, 2014
Region:
1
The transatlantic integration of financial markets has suffered a serious setback since the crisis of 2007. Since then, the countries affected have fundamentally overhauled the regulatory framework governing financial markets. However, this stricter regulation has led to regulatory divergence: Divergent rules on capital, liquidity, derivatives and banking structures are threatening to fragment the financial markets. Slightly divergent national policy preferences, the institutional framework and the relevant partners' differing ideas on reform have been the main factors driving this unfortunate trend. The proposed Transatlantic Trade and Investment Partnership (TTIP) provides a good opportunity to lay strong institutional foundations for regulatory cooperation on financial services as well. Responsibility for creating internationally harmonised rules on financial market regulation rests with the G20 leaders. [more]
August 19, 2013
Region:
2
The prospects for an ambitious partnership agreement between the EU and the US are better than ever. An agreement would increase growth and employment in both regions. The greatest economic opportunities lie in improved cooperation in the regulation of markets for goods and services. Governments, parliaments and most interest groups on both sides are in a positive mood; the resistance to an agreement has thus far been limited to criticism of some details. The greatest political difficulties are likely to arise in the areas of agriculture and data protection. [more]
July 27, 2012
3
Since 2006 the European Union has increasingly been looking to sign deep and comprehensive free trade agreements with emerging markets. In the meantime it has also been turning its attention to some industrialised nations. A trade agreement with South Korea has already come into effect. Although the EU is pinning great hopes on India and a number of ASEAN states, it is also keen to conclude similar agreements with Mercosur, Canada, Ukraine and virtually all of the Southern Mediterranean countries. It is even considering Japan and the United States as potential partners. If the European Union's bilateral free trade strategy were fully implemented by the end of this decade, it would give a moderate boost to trade, welfare, growth and employment in the EU and would often provide a much stronger stimulus in the partner countries concerned. This free trade strategy is also highly ambitious in terms of its diplomatic objectives because issues that have so far received insufficient attention – such as trade in services, technical trade barriers and foreign direct investment – are to be better regulated. Whether the EU – currently the world's largest trading bloc – is ultimately successful with this strategy will in many cases be decided by domestic politics in the partner countries. The fundamental question of whether a deep bilateral strategy should perhaps be complemented by a parallel multilateral approach as a matter of considerable urgency will be especially pertinent in transatlantic relations. However, there is also a risk of tensions within the international system. [more]
November 15, 2011
Region:
4
The world economic crisis has seriously weakened potential economic growth in many industrialised countries for the coming years. And new regulatory requirements in the financial sector are likely to deal it a further blow. This has made economic policy measures to stimulate economic growth in the wake of structural reform an absolutely essential complement to macroeconomic measures, especially in the big industrial nations. Even at a time when the scope has narrowed for fiscal policy, this still holds true. It is precisely in periods of consolidation that structural reforms are vital to sustained success. [more]
June 28, 2011
5
The world trade regime has reached an historic crossroads. Conclusion of the Doha Round this year could give global trade a significant boost. If the negotiations break down, in the medium term the international community faces the prospect of a relapse into tit for tat in trade policy. To bring the Doha Round to a successful conclusion political leadership is necessary – in the big emerging markets as well as in the US and EU. The former also stand to reap substantial gains from reciprocal market liberalisation. [more]
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