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The Arctic is becoming increasingly important in terms of energy, security and climate issues on a global scale. Following the coastal states of the Arctic Ocean, which have presented Arctic strategies in recent years, the European Union has started developing an Arctic policy. While more or less consistent guiding principles have been established via several papers and communications, these have been backed up with concrete instructions and practical action to a diverging and an overall rather low degree. As a non-coastal state, the European Union will have to rely on its membership in relevant international and regional organisations, instruments such as the Northern Dimension and cooperation with member and partner states, also in the future. [ABSTRACT FROM AUTHOR]

The article focuses on current legislative procedures, which will frame European Cohesion Policy from 2014 to 2020, by analyzing the cleavages between the European Parliament, the Commission and the member states. It points out that five major conflicts dominate the debate on the strategic conception of the regional development policy. In particular, the questions of the appropriate budget, its spending and future budgetary commitments by the introduction of ex post and macroeconomic conditionalities represent key notions within the negotiation process. The paper points out that Cohesion Policy serves as a legitimacy resource for all involved negotiation partners. Hence, it is unlikely that future support programs will abandon the "watering can approach" of European Cohesion Policy, which has been subject to much allegation. [ABSTRACT FROM AUTHOR]

The current economic and financial crisis can be seen as a considerable challenge for the European Monetary Union. The European Central Bank (ECB), the European institutions and the member states tried to prevent the European economies from sliding into a depression by undertaking monetary as well as fiscal policy actions. The aim of the paper is to analyse the sensitivity and absorbability of the EU with respect to exogenous shocks, in doing so, monetary policy as well as fiscal policy tools are presented and evaluated. Hereby is referred to the reactions of the ECB in comparison to those of the FED as well as the investigation of the impulses of fiscal policy actions undertaken by the EU on its member states. In line with the analysis, weaknesses, mainly in the area of fiscal policy, are identified and possible threats are highlighted. [ABSTRACT FROM AUTHOR]