Search

This Note explains the need for greater consumer protection in the financial technology (fintech) sector in the European Union and advocates for the implementation of new laws and regulations to achieve that end. Fintech, used properly, has the potential to close financial equality gaps across the world. By introducing innovative products in a consumable fashion, fintech companies can reach unserved and underserved populations more easily than ever before. The concern with the increase in fintech, however, is that the breakneck speed of change creates risks for both investors and consumers. Recently, these risks were plit on display when Wirecard, a German fintech company, filed for insolvency creating massive losses for both investors and consumers. Prior to its collapse, Wirecard was overseen by regulatory bodies in the European Union which did not provide adequate protection to consumers or investors in regulating fintech companies. The European Union maintains a patchwork of regulations for fintech companies spread across its member states instead of one overarching Policy, making it difficult for companies to do business compliantly and for consumers to understand their protections. In recent years, Mexico has seen a surge in fintech companies within its borders consisting of both newly founded Mexican companies and international companies opening Mexican branches or subsidiaries. Because of this boom and a noted lack of regulation for fintech providers creating concern for investors and consumers, Mexico passed the Financial Technology Institutions Law. This law provides more government oversight of fintech companies in the country, creating a safer environment for investors and consumers. Additionally, the law introduced a sandbox environment allowing certain companies to craft new products and services innovatively, providing additional protections to consumers, and allowing investors to participate at the ground level. In the European Union, fintech companies are not subject to as much regulation as is now required by the Mexican Financial Technology Institutions Law, and the European Union does not have a minimum capital requirement. Increasing the amount Of capital that a company is required to have on hand at any given moment provides protection to both investors and consumers. If a company sustains heavy operating losses, the cash on hand ensures that the company could continue operations, meaning that consumers are allowed to continue their use of the service and that investors have a lower likelihood of losing their investment. The European Union should implement a version of the Mexican Financial Technology Institutions Law across all member states to provide regulation over the fintech industry creating more stability and trust. Additionally, by implementing stricter capital requirements, European Union consumers and investors would be better protected against large operating losses. The implementation of these requirements in the European Union would create a more hospitable environment for fintech companies, consumers, and investors. [ABSTRACT FROM AUTHOR]

Copyright of Il Diritto Dell'unione Europea is the property of Giappichelli Editore srl and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Journal of European Integration History is the property of Nomos Verlagsgesellschaft mbH & Co. KG and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Migration is a social phenomenon that has profoundly affected Romanian society for the last three decades. Due to migration, in some receiving states, more representative communities of Romanians began to develop. One of these communities is that of the Romanians in Austria, which in recent years has developed steadily, becoming the second-largest minority community in this country. The influencing factors and the contextual environment influenced both the immigration and the socio-economic integration of the Romanians into the Austrian society. Evidence of this integration is given by a high rate of engagement in the labour market, entrepreneurship and the school system. Romanians are not only a well-integrated community, but also human capital that plays a particularly important role in certain areas of socio-economic life in Austria. [ABSTRACT FROM AUTHOR]

This invited Symposium contribution discusses Jürgen Habermas's celebrated and influential theory of pouvoir constituant mixte. In that account, the EU is constituted by a double authority: that of citizens of nation‐states and that of (the same) citizens as subjects of the future EU. I argue that Habermas's theory is convincing only if the two constitution‐building subjects—citizens of the already constituted nation‐states and citizens of the to‐be‐constituted European Union—are positioned symmetrically in relation to each other. I argue that Habermas's construction is, in fact, asymmetrical. I identify three asymmetries: of expectations, of function and of origins. I argue that these asymmetries place the role of citizens as members of nation‐states in such an advantageous position that it would be irrational for citizens in their other capacity, as citizens of the to‐be‐constituted European Union, to participate in the constituent authority in the terms proposed and defended by Habermas. [ABSTRACT FROM AUTHOR]

Under the umbrella of Capacity Building in Support of Security and Development (CBSD), the EU provides equipment and infrastructure to the armed forces of partner countries. The 2017 reform of the Instrument contributing to Stability and Peace (IcSP) to implement CBSD represents a remarkable integrative step at the interface of EU security and development policy. This article explains the IcSP reform through a neofunctionalist lens. It argues that the extension of the Commission's competences in EU security affairs can be explained by the interaction of functional and cultivated spillover pressures. Functional discrepancies between the CSDP framework and EU development policy created strong pressures for further integrative steps. Moreover, the Commission exerted strong pressures for adopting its proposal for implementing CBSD through the IcSP by drawing on a combination of strategic coalition-building, bargaining tactics and community framing. The case illustrates neofunctionalism's potential to explain external policy integration. [ABSTRACT FROM AUTHOR]

The article discusses comparisons between Georgia and the candidate and potential countries of the European Union (EU) along with Georgia's Prospects for European Integration. Topics discussed include trade and economic relations between Georgia and the EU; deepening cooperation between EU candidate countries and the EU; and also mentions about the foreign policy and economic reforms in the current EU candidate countries.

The article present comparisons between Georgia and the candidate and potential countries of the European Union (EU) regarding economic integration. Topics discussed include trade and economic relations between Georgia and the EU; the closest relationship of Georgia with Turkey regarding trade and economic cooperation; and effect of the enlargement of the European Union and the admission of new member states on relations between other European countries and the EU.

According to mainstream discourse, the EU is facing a 'refugee crisis' due to a mass influx of asylum seekers, which is putting the Common European Asylum System (CEAS) under pressure. Although this article acknowledges that the CEAS is currently under pressure, it aims to take a different view from the assumption that the—admittedly significant—arrival of asylum seekers constitutes in itself a problem for the EU. It suggests that the problems encountered by the CEAS are rather symptomatic of a deeper gridlock resulting from this system's lack of compliance with two main EU's fundamental values, the respect of which constitutes the 'fundamental premise' of EU integration, namely solidarity and human rights. From both an historical and a legal perspective, the EU is indeed founded on a set of values comprising the respect of human rights and solidarity. The treaties further require their respect internally (i.e. Articles 2 and 6 TEU), but also vis-à-vis the rest of the world (i.e. Articles 3(5) and 21 TEU). However, the current responses to the arrival of asylum-seekers are, in several respects, in contradiction with these founding values. On the one hand, the internal management of the influx of refugees reveals a lack of solidarity and results in breaches of asylum-seekers' fundamental rights. On the other, the EU's asylum policy does not meet the requirement according to which the Union shall, in its relations with the wider world, uphold and promote these values. These observations lead us to believe that facing the refugee challenge constitutes, from a normative perspective at least, a litmus test for the EU at large. Indeed, the EU's difficulties in dealing with the arrival of the asylum seekers—which have already been the subject of extensive research—appear to be the evidence of an identity crisis. The way the EU, hand in hand with its Member States, responds to this challenge thus amounts to a 'decisively indicative test' for its normative foundations that are a prerequisite for the viability of the entire undertaking, and, notably, of the principle of mutual trust. [ABSTRACT FROM AUTHOR]

At European level, the economic integration aims to achieve economic solidarity by forming a complex network of interdependent links between the economic agents of the participant countries. The viability of European economic integration depends primarily on the sharing of European democratic and cultural values by a state, and then on its economic capacity and performance. To contribute to the European Union development, the economic integration contributes by developing mutual exchanges and interdependences of national economies. [ABSTRACT FROM AUTHOR]

This year we celebrate the 25th anniversary of the European Single Market. The Single Market's achievements cover various areas but there is still room for improvement. Against the background of this historic and economic development, this article discusses different legal acts that are being negotiated and outlines suggestions for improvement. [ABSTRACT FROM AUTHOR]

Sustainability-oriented tax-based own resources would do more than just help to close the existing sustainability gaps in EU taxation.Member States primarily consider their individual net positions, i.e. the difference between their payments into the EU budget and the transfers they receive out of it, when determining the benefits derived from the EU (budget). Much less attention is paid to indirect benefits from EU membership and expenditures, which generally exceed Member States' contributions to the EU budget considerably. [ABSTRACT FROM AUTHOR]

This article analyses the role of the EU institutions in guiding the EMU reform process. Many have argued that the institutions have had to adapt to a ‘constraining’ environment in which EU negotiations are highly salient and touch upon ‘core state powers’. To explain how they have been adapting, we provide a detailed process tracing analysis of their role in setting up the banking union. We use insights from principal-agent (PA) theorizing, but extend this framework to account for situations in which there are multiple agents. The analysis shows that in spite of overlapping interests, functional imperatives and a crisis atmosphere, there was nothing inevitable about the banking union. It came about through new patterns of institutional collaboration at different stages and between different levels of decision making. We explore the implications of this type of collaborative leadership at the level of agents, arenas, process and substance. [ABSTRACT FROM AUTHOR]

The customs union is still one of the most concrete outcomes of Turkey's gradual integration to the EU. However, due to changes in world trade, EU trade policy and Turkey-EU relations, the customs union is in need of a comprehensive revision and update. This commentary aims to analyze the current working and need for upgrading of the customs union within the overall scope of Turkey and EU relations. It is argued that the customs union is not only about the bilateral trade relationship, and its modernization could bring a breath of fresh air to Turkey-EU relations and reignite the process of Turkey's gradual integration into the EU. [ABSTRACT FROM AUTHOR]

Abstract: This paper presents a holistic description and assessment of the European Union's financial services policy since the start of financial crisis in mid‐2007. The decade‐long sequence is divided into four themes, in broadly chronological order: the initial reaction to the 2007–08 financial shock; subsequent initiatives framed by political developments at the EU and G20 level; the banking union from mid‐2012; and more recent events centered on the UK vote to exit the EU (Brexit). The analysis identifies banking union as the watershed moment, and correspondingly assesses the EU policy response as mostly inadequate in the first half and mostly effective in the second half of the period covered. Recommendations for future reforms are made in the conclusion. [ABSTRACT FROM AUTHOR]

This article, initially discussed at a conference organised in March 2017 by the Belgian Commission for Electricity and Gas Regulation (CREG) on the new governance structures in the EU energy sector, deals with energy governance structures in the EU energy and climate diplomacy and in development cooperation between the EU, its member states and third countries. It is understood that, at large, the existing tools of EU energy and climate diplomacy create governance structures: bilateral partnerships, trade agreements, regional and multilateral orders are per se instruments to govern the underlying relationship between the EU, its member states and third countries. The focus in this paper revolves around those instruments of EU energy and climate diplomacy which aim at reinforcing energy governance structures (referred to also as institutional and normative energy frameworks) and promoting solid transparent frameworks in the field of energy in partner countries. In particular, the paper aims at identifying -- among the existing tools of the energy and climate diplomacy --instruments and opportunities in favour of African countries which contribute to strengthening those institutional and normative energy frameworks and facilitate investment towards universal energy access and energy transition. To do so, the paper reviews the existing policy and legal instruments of EU external energy action in general and in Africa and concludes proposing policy recommendations on further development cooperation and energy diplomacy initiatives in favour of African countries. The first section reviews the principles of EU energy and climate diplomacy and their alignment with development objectives, including the emphasis on strengthening institutional and normative frameworks in the energy sector. The second section considers the internal coordination between the EU and its member states which is necessary to carry out the external energy and climate diplomacy as well as development cooperation. The third section describes the existing tools of the EU energy diplomacy that aim to strengthen energy institutions and frameworks in partner countries. The fourth section reviews a selection of existing EU initiatives in favour of African countries and brings forward a proposal for EU action to reinforce energy governance structures of partner countries in Africa. [ABSTRACT FROM AUTHOR]

One of the major unsolved issues regarding art. 50 TEU is the permissibility of unilateral revocation of 'withdrawal. In this context, the potential of abuse of a unilateral revocation, especially by revoking and then re-notifying, is of great concern. This concern leads some commentators to deny unilateral revocability and other voices to demand bona fide as a condition for unilateral revocation. A closer inspection of art. 50 TEU in its systematic context reveals that, despite the lack of explicit and clear rules, art. 50 TEU provides a nuanced procedure for revocation and re-notification. This procedure safeguards a broad discretion in handling the declarations of the Member State in question and secures the interest of the EU as well as the rights of the other Member States. Thus, the potential for abuse is vastly mitigated and there is no need for general bona fide constraints or even refusing the permissibility of unilateral revocation for this reason. [ABSTRACT FROM AUTHOR]

With the expansion of globalization, economic integration and the mobility of production factors at the local and global level have been facilitated. In Europe, the process of economic and monetary integration began when barriers to the free movement of goods, capital and labor were formally abolished, although cultural barriers still exist. The need and justification of tax competition is that it can lead to greater efficiency in the use of public sector resources and more efficient allocation of capital. The main advantages of tax competition are those related to the reduction of tax rates, which can lead to boosting consumption and investment. The method used to achieve the objective is complex, from statistical and economic analyzes of fiscal data to a comparative technique at the level of the European Union. The database used is from Eurostat sources and other European Commission work on taxation in the Member States of the European Union. [ABSTRACT FROM AUTHOR]

Migrant’s crisis of 2015 affected the credibility of the social security system built and strengthened over the past three decades by the European Union. Adoption of the refugee quotas in order to be relocated by the Member States of the European Union is a current issue that requires at least two directions of analysis: increasing the efficiency of the European Union humanitarian aid addressed to destination countries and deepening the dimensions of the integrative process of social inclusion of migrants. This article proposes to review the state of implementation mechanisms for supporting measures addressed to migration flows developed by the European Union together with candidate states and the mechanisms developed by international institutions and organization in order to provide specific measures of humanitarian assistance to populations in affected areas war. [ABSTRACT FROM AUTHOR]

Abstract: Given the increasing use of direct democratic devices on questions of European integration, this paper explores whether or not Member States may have good reason to agree on common regulations for popular votes of this nature. Conceiving of the European Union as a political system designed to serve the interests of states and citizens, it is argued that where direct votes have the potential to undermine the territorial, functional, normative or existential integrity of the EU, then states may have good reason to sacrifice a degree of national autonomy to adopt common regulations for certain uses of direct democracy. This leads to a case for democratic standardization across Member States when it comes to withdrawal, accession, Treaty ratification and opt‐in decisions. [ABSTRACT FROM AUTHOR]

Abstract: The European Union (EU) struggles to legitimate its rule. This realist study develops a conception of peoplehood in the EU polity, because, in contemporary Europe, ‘the people’ remains the sole source of political legitimacy. From a realist perspective, a conception of peoplehood should yield a coherent story why EU citizens should accept, or at least acquiesce, to EU rule. This study explores the possibility of a pluralistic conception being either multi‐layered, multi‐faceted or both. Taking a practice‐dependent approach, I first analyse the institutional systems that structure relationships between EU citizens. I secondly propose conceptions of EU citizens’ bonds of collectivity. Thirdly, I develop a novel two‐tier conception of EU peoplehood in which individuals remain bound together as national peoples, while these peoples are in turn united by commercial and liberal bonds. I submit that this conception can lay the foundation for a convincing story to legitimate EU rule. [ABSTRACT FROM AUTHOR]

Abstract: In this article, I analyse the European Union (EU) in the light of the Lefortian question: What place does power have in a democracy? Claude Lefort has argued that modern democracy is a regime where the place of power is empty. In this article, I investigate what this entails for the EU. I take the current situation of democracy in the EU as being marked by two developments: the contestation of democracy by citizens on the one hand and the hollowing out of democracy at the EU level on the other. Exemplary for the first development are the popular protest movements known as the indignados. The second feature is exemplified by governance and technocracy. My argument suggests that the critical response of the former to the latter can in fact be read as the claim that what should have been the empty place of power in European democracy has come to be occupied by the establishment of an authoritarian regime of expert rule. [ABSTRACT FROM AUTHOR]

Abstract: The democratic criteria for representation in the European Union are complex since its representation involves several delegation mechanisms and institutions. This paper develops institutional design principles for the representation of peoples and individuals and suggests reform options of the European Union on the basis of the theory of multilateral democracy. In particular, it addresses how the equality of individuals can be realised in EU representation while guaranteeing the mutual recognition of peoples. Unlike strict intergovernmental institutions, the EU requires an additional and independent legislative chamber in which individuals are directly represented. However, strict equality of individuals cannot be the guiding principle for this chamber. In order to avoid the overruling of peoples through supranational majorities, it is necessary to bind the chamber's composition by a principle of degressive proportionality. The representation of peoples, on the other hand, needs to be connected to their domestic democratic institutions. [ABSTRACT FROM AUTHOR]

Abstract: In this article I identify the principles of justice by which an economic union is to be constituted. For this purpose, I extend John Rawls's constructivist theory of justice to economically integrated societies. With regard to the principles identified, I defend a twofold claim. First, the principles of economic union generated by this extended procedure of construction can serve as common points of reference for the subjects of an economic union. Second, these principles cannot come into conflict with similarly constructed prior principles of social justice and international justice. [ABSTRACT FROM AUTHOR]

We examine how the EU can act as a great power in its own right even in the absence of military capability and how its institutional structure conditions this ability. We first theorize EU great power politics. Based on theories of corporate action, the EU constitutes a strong market power in its own right and a weak security power. While it is institutionally ill-equipped to purposefully mobilize its market power to pursue high-politics goals, its communitarized external relations may inadvertently challenge important security interests of other great powers. Second, we show that the EU acted as an inadvertent great power vis-à-vis Russia in its Ukraine policy which was primarily driven by the supranational decision-making apparatus and low-politics considerations, but engendered a bipolar power struggle with Russia over Ukraine. The risks inherent in EU inadvertent great power politics are deeply engrained in the EU's institutional structure and therefore difficult to mitigate. [ABSTRACT FROM AUTHOR]

It is often maintained that the euro debt crisis showed that the Economic and Monetary Union (EMU) was not sustainable without more fiscal integration. However, important causes of the crisis were extraordinary and are highly unlikely to occur again. While the legacy problems of the crisis have been grave, they can be deemed temporary. Therefore, these problems should be combated pragmatically, but with temporary instruments only. A systematic analysis shows that the root causes have been tackled with a wide variety of reforms, both to the EMU itself and by way of structural reforms of the member states. In particular, evidence is presented that the adjustment capacities of the EMU countries are better than commonly recognised. Additional reforms are suggested, especially in the financial sector. With these reforms in place, future crises would have less serious effects. A reformed EMU should be able to withstand such crises without further fiscal integration. [ABSTRACT FROM AUTHOR]

The need for a fiscal union in the EU is an issue which has been debated many times and about which much has been written. However, the economic and financial crisis we have experienced in recent years has cast doubt on whether we have taken this debate in the right direction. Sometimes we tend to focus the debate on marginal issues and unrealistic proposals. Rather than helping us to move forward, this paralyses the EU and distances us from feasible targets. This article aims to give a general overview of the debate on a fiscal union to find out where we are in the process of fiscal integration and what we can really expect from it. [ABSTRACT FROM AUTHOR]

Events in recent years have put the European economic integration project and the euro under pressure. The main cause of the euro crisis is loss of competitiveness, particularly on the periphery of the Economic and Monetary Union. To reverse this, Union members must promote structural reforms that increase long-term employment, productivity and external competitiveness. The successful implementation of reforms, however, requires sufficient public support, which in turn presupposes measures that support demand during the implementation of reforms. To that end, important steps include taking an expenditure-based approach to fiscal adjustment and the introduction of the European Deposit Insurance Scheme. And for Greece in particular, the set of necessary steps includes taking ownership of reforms, the downward revision of fiscal targets, and medium- and long-term measures of debt relief conditional upon meeting fiscal/reform targets. Finally, the stability of the euro hinges on the moderation of all fiscal and external imbalances across all member states, regardless of whether these imbalances are apparent or not. [ABSTRACT FROM AUTHOR]

The article examines the economic policies that led to the economic boom in Ireland in the 1990s, as well as the policies that were enacted by successive Irish governments to respond to the economic crisis that emerged in 2008. It discusses the economic impact of the integration of national economies within the euro area which can be very visible in the difference between creditor and debtor states. A graph is also presented that shows Irish economic growth from 1995 to 2015.

The celebration of 60 years since the signing of the Treaty of Rome (1957) establishing the European Economic Community and the European Community of Atomic Energy happened in a period of heated debates on European Union's future, marked by strong Eurosceptic attitudes, but also by efforts of finding a sufficiently strong bond in order to continue the European project in a viable form, capable of coping with the current challenges. Departing from the regional and international context, the present paper analyses a range of matters which have been the hotspots of the assessments of EU's evolution trends. In this line of thought, a first subject approached in this paper refers to the implications of "multispeed Europe", trying to discern not only its real significance based on EU legislation, but also the reasons for which its re-emergence in the public discourse gave birth to some member states' virulent reactions of discontent. A second subject addressed in the following pages is related to the evolutions of the European security and defence domain, laying an emphasis on the particularities of differentiated integration in this area. The two main subjects are meant to support the conclusion that EU's institutional flexibility is one of the few ways of ensuring the continuity of the European project despite all the challenges the organization is facing nowadays. [ABSTRACT FROM AUTHOR]

The author reflects on the European Neighbourhood Policy (ENP), in which European Union (EU) works with its southern and eastern neighbours to achieve the close political association and economic integration.

This article considers whether the creation of a budgetary union in the European EMU (economic and monetary union) is a feasible and suitable way to resolve the current impasse created by the euro crisis. The article begins by identifying the major drawbacks concerning the transposition of prescriptions regarding fiscal federalism to the current E(M)U scenario, with the outlook that this appears to be an extemporaneous solution. It then indicates the alternative conception of an incomplete budgetary union, which is mostly characterized by the setting up of specific insurance mechanisms. These alternative measures are shown to be more realistic and feasible, since they combine path dependency with an innovative appropriation of specific features of the classic federalism model, modifying them to an E(M)U scenario in a heterodox way. [ABSTRACT FROM AUTHOR]

Copyright of Economic History Research / Investigaciones de Historia Económica is the property of Asociacion Espanola de Historia Economica and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper examines the centrality of the single market to the EU. Its main conclusion is that the single market will remain central to the Union in future and that although it is not immune to crises, because it is the Union’s hard core and has powerful governance, serious erosion is unlikely. The paper examines the centrality of the single market by analysing in-depth the functional logic of market integration and the progress and deficits that characterise the Union’s market regime. The paper then explores the meaning of the internal market for EMU and argues that the single market is the ‘E’ in EMU. The issue of the euro ‘ins’ and ‘outs’ is addressed. The paper ends by asking if the single market is resilient against crises and concludes in the affirmative. [ABSTRACT FROM PUBLISHER]

There are many ways in which public diplomacy may be used as a tool of promoting cooperation and integration between countries. Among others, student exchanges may be used for that purpose. The Erasmus programme, followed by Erasmus+, have long played an important part in integrating the countries of the European Union, and is thus an example of effective educational diplomacy. In my paper I am going to (1) explain what educational diplomacy is and relate it to the theory of public diplomacy; (2) analyse how educational diplomacy is conducted in the Eastern Partnership countries; and (3) discuss what elements positively and negatively influence its effectiveness. [ABSTRACT FROM AUTHOR]

We put together a unique panel of thousands of good-level prices before and after the euro to compare the determinants and understand the evolution of goods price dispersion across Europe over time. We find that tradeability and nontraded inputs play a significantly smaller role for cross-country price dispersion after the adoption of the euro, and for Eurozone economies as compared to European Union ones. We then compare the distributions of law-of-one-price (LOP) deviations over time to understand how the degree of integration across European economies changed after the euro. Our tests reveal that the distributions after the euro are typically significantly different from those before, consistent with a greater degree of integration. Utilizing our unique panel data set to trace the location of individual goods in the distribution of LOP deviations, we ask how the price advantage or disadvantage evident in these price distributions evolves over time, and whether goods characteristics play a role for the persistence of these LOP deviations. LOP deviations for these goods are highly correlated over 5- or 10- year horizons, and correlations remain significantly high over longer horizons. These correlations are greater for homogeneous as compared to differentiated goods and vary across countries. Finally, for most of these European economies and goods, price advantage is typically revealed to be more persistent than price disadvantage. [ABSTRACT FROM AUTHOR]

Following the dismantling of the state socialist bloc, the new independent states sought a place in the world order in different contexts and state combinations. The paper considers different possibilities and outlines the formation of regional post-socialist regions. The Russian Federation’s past, present, and possible future regional alliances are discussed. Russia’s economic synergy is considered to be with the European Union. It is contended that Russia has been pushed towards the Shanghai Cooperation Organisation and the BRICS by misguided Western policy. A movement to a more pluralistic world system is compared to the unitary paradigm of Wallerstein. The rise of a ‘counterpoint’ (a semi-core) to the hegemonic core is considered to be a geo-political alternative. [ABSTRACT FROM PUBLISHER]

Ukraine has a special more than 3 years' experience of free trade regime with the CIS countries, being only CIS associate member. Ukraine joined CISFTA in 2011. Efficiency of this flexible exogenous integration was low, mainly due to complicated bilateral relations with Russia. Aiming to reach a successful development of a flexible exogenous integration in the EU Eastern neighbourhood the new EU initiative was launched in May 2009: EU Eastern Partnership, and Ukraine (UA) became then one of EU strategic partners among six ex-Soviet republics. EU successfully negotiated and finally signed the Association Agreements including DCFTA part on a creation of a free trade regime between the partners with 3 of them: Ukraine, Georgia and Moldova in 2014. The article aims to analyse Ukrainian flexible exogenous integration to the EU, with focus on economic environment, trade and key elements for future efficiency, as well as impact on economy and society of the country. Although, de iure Ukrainian flexible exogenous integration to the EU started in 2014, de facto the process started on 1 January 2016. Taking into account following decision, Ukrainians chose their orientations towards the EU integration, leaving bilateral relations with Russia in question. In conclusion, for Ukraine to retain the highest possible efficiency in building flexible exogenous integration, it will have to implement EU acquis communautaire legal system and build its institutions using EU rules. [ABSTRACT FROM AUTHOR]

The article presents an overview of south-eastern Europe by focusing on topics including the functions of the European Union (EU), history of the gross domestic product (GDP) of the European Union countries and impact of the European integration process on the economy.

The European crisis is the best case study for examining both the vulnerabilities of Europe's framework for economic governance and the very process of European integration itself. This statement is true for several reasons: first, because the European crisis is the most serious crisis the European Union has faced to date; second, because of the crisis, limits on the process of economic integration in Europe have been put to a real test; and third, because the main causes of the crisis are tied into the framework for economic governance that has been developed over the last few decades and therefore are connected to the very process of European unification itself. The primary aim of this paper is to demonstrate whether and to what extent the new framework for economic governance in Europe is largely a result of interstate bargaining and consequently whether national preferences continue to play an important role in the framework's general transformation. The economic crisis showed that important issues in economic policy concerning the change in economic governance and the role of the nation-state, which were ‘swept under the carpet’ in recent decades, must be resolved to make the European venture viable. [ABSTRACT FROM PUBLISHER]

The euro area crisis has exposed flaws in the institutional framework of the European Economic and Monetary Union (EMU). The immediate causes of the crisis have been widely debated — including weak governance, persistent erosion of competitiveness in some countries and easy financing by banks. However, there is little discussion about a fundamental shift in the nature of European integration, which took place in mid-1990s when plans for launching the euro became credible and binding. It was not understood that Europe had shifted from a Common Market Era, during which EMU’s foundations were laid, to a ‘Union Era’ which in retrospect exhibited an incomplete institutional framework. This article reviews the leap in governance now taking place, whilst taking stock of what has worked and proved resilient over the previous 60 years. This is done by means of an index — the European Index of Regional Institutional Integration (EURII) — providing a tool to synthesise and monitor European institutional integration since 1958, and track all institutional reforms since 2010. EURII has both backward as well as forward-looking components anchored on the project put forward in the 2012 Four Presidents’ Report. [ABSTRACT FROM AUTHOR]

The article examines the content of new legislation that gives European Union (EU) member states the regulatory freedom to decide whether genetically modified organisms (GMOs) should be cultivated or not in their territory. Topics covered include the cultivation of GMOs in the EU and the use of GM food and feeds, the importance of the new piece of legislation, and the nature of the retrieval of the national competence to cultivate GMOs and its impact on the EU integration process.

Territorial cooperation has become one of the most important and successful activities of the European Economic Community/European Union (EEC/EU), first within Regional and Cohesion policy and then also in the framework of the Enlargement and Neighbourhood policy. The transformation of regional cross-border cooperation from a spontaneous local phenomenon into a structured European program has taken a long time. The process started in 1958, when European institutions, created within the framework of EEC, began to care about European border regions and to take into consideration the importance of cross-border cooperation for these territories and for European Community itself, and first came to fruition in 1990 with the creation of Interreg, the first financial program addressed to territorial cooperation. Many actors have participated in the achievement of this important European activity, both institutional and non-institutional actors at European, national, regional and local level. The focus of this paper is on the EEC/EU institutional level, and in particular on the actions of the European Parliament/EP, which has played a very important role in the development and the institutionalisation of regional cross-border cooperation in Europe. In order to better illustrate how this process has gradually improved as a result of the commitment of all the actors involved and of the evolution of the European integration process, this paper presents a "periodization" of the considered historical period, namely 1958 to 1990. In the most of the cases the a quo and ad quem terms of each of the four phases that the period has been divided into correspond to important turning points in the evolution of the European regional policy, which represents the political-institutional context of reference within which "European cross-border policy" has developed. [ABSTRACT FROM AUTHOR]

The article looks at the state of European Union (EU) legal research amid the political and economic crises. Topics covered include the accusation that the EU is producing division, inequality and exclusion, the enforcement of the rule of law in the union, and benefits of the EU market integration process. Also discussed is the study of competition between EU member states and global economic and cultural forces.

On July 1, 1990, when capital controls in the European Economic Community were removed, the path was paved for the introduction of the euro. This path was marked by a compromise between two schools of thought--those who assumed that the creation of the European Central Bank would be followed by greater economic convergence and political integration, and those who saw the single currency as the coronation of European cooperation and economic convergence. In the initial years following the introduction of the single currency, the compromise as set down in the Maastricht Treaty--the speedy introduction of the single currency, on the one hand, and better cooperation in fiscal policy matters on the other--neither strengthened the institutional foundations of the monetary union nor advanced the political integration process. This resulted in economic divergence and tension in the euro area, which in recent years culminated in a severe crisis. It was only in response to this crisis that some of the necessary changes to the institutional structures of the monetary union were made. There is much evidence to suggest that, when the monetary union was originally being created, such tension and even crisis situations were consciously tolerated because of the stimulus for deeper integration this would provide. Such political maneuvering is very risky, however, since it can lead to the loss of public support for the integration process, thereby threatening the very existence of the common currency. To advance the European project, it is imperative that governments do not rely on the momentum inherent in crisis situations, but instead press ahead with the next stages of integration and take an active approach to bolstering the institutional foundations of the currency union. [ABSTRACT FROM AUTHOR]

Precisely 25 years ago, on July 1, 1990, German monetary union came into force. On the same day, capital controls in Europe were abolished, creating the basis for European monetary union and the euro. These two historical events fundamentally changed Germany and the rest of Europe. Both German and European monetary union were and still are being heavily criticized and debated. Was the design of German monetary union wrong? Was it a mistake to adopt the euro? Particularly in terms of finding a solution to the current European crisis, it is important to understand what lessons Europe can take from German monetary union. [ABSTRACT FROM AUTHOR]

The neighbouring countries of the European Union (EU) have gradually developed ‘a stake’ in its internal market. This contribution asks to what extent and how the EU is expanding its economic community based on an analysis of the different neighbourhood models of deep economic integration, including current discussions about their future development. It shows that the EU's neighbourhood relations range from narrow, bilateral, static models to broad, multilateral, dynamic models and that a shift in this direction can be observed over time. The EU increasingly attempts to ensure market homogeneity beyond its borders by concluding agreements which include a dynamic adaptation to the evolving relevantacquis, its uniform interpretation as well as an independent surveillance and judicial enforcement. [ABSTRACT FROM PUBLISHER]

The creation of the European Union was led by the processes of economic integration, in which the European countries promote the economic cooperation, first, by sectorial liberalization of certain products and by establishment of free trade zones, up to the unification of the economic and monetary policies and the establishment of the economic and monetary union. The crucial factor on the road towards higher stages of economic integration, which have allowed building of a common economic policies and deepening the process of economic integration, was the establishment of a customs union. Due to the customs union the application of numerous economic policies, including the excise policy, was made possible, thus creating equal economic conditions for all European business organizations of the single market. In this context, and in order to establish the expected effects of Macedonia's membership in the EU in terms of changes in the excise system, this paper studies the forms of economic integration and economic benefits of their creation, the excise system and excise policy the EU, as well as the expected effects of the adjustment of the excise system of the Republic of Macedonia with EU directives. [ABSTRACT FROM AUTHOR]

The current economic crisis has triggered fierce debates among policy-makers and the media across and within European countries about the need for a closer European fiscal union. Using a novel dataset derived from the Eurobarometer surveys, this article investigates European citizens' opinions towards such fiscal integration. We find that both country-level variables (such as expected country-level costs/benefits) and individual-level variables (such as distrust towards European Union institutions, ideology and altruism) have significant explanatory power. We also uncover a notable intra-generational divide across young citizens of euro creditor and euro debtor countries, and show that this reflects their varying expectations regarding the future costs and benefits of fiscal integration. This demonstrates that the same demographic groups in different countries may have widely varying positions towards fiscal integration. [ABSTRACT FROM AUTHOR]

Two types of econometric models have typically been used in geographical research: global and local. The former produces parameter estimates that represent an average type of economic behavior; that is, for each variable there is one regression coefficient for the entire sample. The latter suggests that the relationship of interest can vary widely over space allowing the regression parameters to change across spatial entities. Commonly, the regression results obtained from these two different approaches are compared to each other to determine which model performed better. The aim of this paper is twofold. First and foremost, it is to show that a comparison between global and local models is problematic and misleading since it overlooks a critical group of regression models known as regime models. This means that this type of comparison should be extended by including all different regression approaches (i.e. global, local and regime). Sometimes, regime models can perform as well as, or even better, than (more complex) local models and this is something that should be taken into account by empirical geographical studies. Secondly, the paper investigates the convergence process in the regions of the (enlarged) European Union (EU) over the period 1995-2005. The results of this paper show that a regime (convergence) model seems to perform better than any other model employed, implying a very low convergence rate among European regions and highlighting the heterogeneous spatial impact of the EU economic integration process. [ABSTRACT FROM AUTHOR]