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This short, fiercely argued book explains how five years of continuous crisis management not only have failed to resolve the Eurozone's problems but have actually made things worse. While austerity-wracked nations descend into misery and resentment, creditor countries fear that they will be forced to subsidize their weaker brethren indefinitely. Constructive dialogue has collapsed as European decisionmaking descends into terrified paralysis, and the potential paths out of the impasse are blocked by indecision and incompetence at the top.As voters in Greece and Italy rebel against externally imposed hardship, and the sums needed to bail out failed economies reach ever more staggering proportions, the contradictions at the heart of the European project are becoming more and more obvious. Marsh warns that the current succession of complex technical fixes cannot sustain the Eurozone on life support indefinitely. Radical solutions are on offer, but without leaders who are strong and principled enough to push them through, Europe risks a depressing future of permanent decline.

The last couple of years have seen the eurozone lurch from crisis to calamity. With Greece, Portugal and Ireland already driven to the brink of economic catastrophe, and the threat that a number of other EU countries are soon to follow, the consequences for the global economy are potentially dire. In The Great Eurozone Disaster, Heikki Patomäki dissects the current crisis, revealing its origins lie in the instability that has driven the process of financialisation since the early 1970s. Furthermore, the public debt crises in the European deficit countries have been aggravated rather than alleviated by the responses of the Commission and leaders of the surplus countries, especially Germany. Providing a captivating narrative about how Europe ended up in its present predicament, Patomäki presents a radical new vision for 'global economic democracy' as the only viable way out of the current crisis.

The eurozone crisis started in Greece in 2009-10, spread into Ireland and Portugal, and, from there, quickly spread to the larger economies of Spain and Italy. By the autumn of 2011, it threatened the entire global financial system. InEurope's Crisis, Europe's Future, an international group of economic analysts provides an insightful view of the crisis. How did mismanagement of a crisis in a marginal economy spark such a wildfire? After all, Greece is responsible for only 2% of the eurozone's total GDP, yet the crisis in Athens threatened to grow into a worldwide contagion. Individual chapters describe • the onset, evolution, and ramifications of the euro crisis from the perspective of three countries especially hard hit-Greece, Italy, and Spain; • the concerns, priorities, and impacts in continental leaders France and Germany; • the effects and lessons in key policy contexts-national and international finance and social policies. A concluding chapter by Kemal Dervi discusses the possibility of a renewed vision for the European Union in the 2020s, one that would accommodate the needs of greater political integration in the eurozone within a larger European Union where some countries, such as the United Kingdom, will keep their national currencies. Contents Introduction: Kemal Dervi and Jacques Mistral (Brookings) Country Perspectives1. Greece, by Theodore Pelagidis and Michael Mitsopoulos (Brookings) 2. Spain, by Angel Pascual-Ramsay (Brookings and ESADE Business School) 3. Italy, by Domenico Lombardi (Centre for International Governance Innovation) and Luigi Paganetto (University of Rome) 4. France, by Jacques Mistral 5. Germany, by Friedrich Heinemann (Center for European Economic Research) Cross-Cutting Issues 6. The Financial Sector, by Douglas Elliott (Brookings) 7. Social Policies, by Jacques Mistral Conclusion, by Kemal Dervi

Face a une remise en cause des PPP, montages complexes qui, il y a quelques annees, etaient presentes en Europe comme dans les pays emergents en particulier ceux de l'ASEAN, comme une solution idoine pour reduire la dette et les deficits publics tout en contribuant a la croissance economique et a la creation d'emplois, la question est maintenant posee de savoir si les PPP sont perfectibles a l'examen de leurs objectifs et de leurs cadres juridiques? En particulier les avantages avances sont-ils fondes et les derives denoncees peuvent-elles etre corrigees ? De meme le large eventail des solutions legislatives retenues dans differents Etats en Europe et en Asie permet-il de degager certaines convergences et d'ameliorer le systeme francais? A un moment aussi ou les grands groupes europeens fragilises economiquement et financierement par la crise se tournent vers les puissances emergentes de l'ASEAN afin d'acceder a leurs marches via les PPP trouvent-ils dans les legislations de ces pays les garanties pour leurs investissements a long terme?Les colloques internationaux tenus a Hanoi en 2012 et 2013, reunissant des universitaires, des experts europeens et asiatiques (ministeres vietnamiens), des responsables de l'UE et des conseillers diplomatiques ainsi que des representants de grands groupes industriels, des avocats internationaux et des bailleurs de fonds, ont debattu de ces questions fondamentales qui trouvent leur traduction dans cet ouvrage complete par un ensemble de documents essentiels a la comprehension de cette problematique.

This book explores the links between European integration and globalisation, and examines the potential for social transformation in the context of the global economic crisis and the resulting EU reforms. Divided into three parts, this book offers both empirical and theoretical analyses of social integration, supranationality and global competition. Drawing on Critical Political Economy research, Neo-Gramscian, Open Marxist, Regulationist and Post-structuralist scholars subject a wide range of European flagship policies in matters of competition, trade and security to critical scrutiny and relate them to global political economy dynamics. Contributors examine the ways in which current global economic turbulence has affected the European Union, its membership and its adjacent areas, and determine the potential for economic and political transformation in light of the global economic crisis and Europe's 2020 Strategy. In the emerging multi-polar world, in which the EU and the US are expected to share global policymaking with new powers, this book argues for a revised conceptualisation of European integration and its relationship with globalisation. Globalisation and European Integration will be of interest to students, scholars and researchers of globalisation, political economy, international relations, and European Union politics.

The enlargement process, the creation of the Monetary Union and the need to promote further the political and economic integration of Europe have ignited an intense debate at the European level among researchers and policy-makers. Examining the effects that political, legal, and regulatory institutions have on economic development, this book provides new contributions on the political economy of the European constitution. It covers many issues including social protection, fiscal reform and regional policies that are on the table of European policy makers. Furthermore, it provides ideas and analysis of such issues as the problem of voting reform, the centralization and decentralization of the policy process and the allocation of new policy prerogatives at the EU level which are crucial for the design of a new European constitution.

By tracing the way in which the CJEU and national courts react to legislation and Treaty reform, and the way in which the Member States, Commission and other actors in the legislative process react to judicial interventions, this collection of essays explores the nature of the dynamic relationship between courts and legislatures within the EU. It is clear that the boundaries between the legal and political realms are contested and that the judiciary and the legislature are engaged in a struggle, not so much about the substantive contours of the internal market project, but rather about their relative institutional positions. The contributors consider all aspects of the internal market project, from goods to capital and citizenship, examining areas where there has been significant Treaty change as well as those in which the Treaty framework has remained substantially unaltered.

While Switzerland is well known for its specific political institutions, such as direct democracy, federalism and neutrality, or for its banking secrecy, its socio-economic institutions, which decisively contributed to its prosperity, remain relatively unexplored. This book gives the first systematic overview of Swiss political economy in comparative perspectives. Divided into four sections, the first offers an introduction to Swiss political economy, its major political institutions and Switzerland' relationship to the EU. The remaining three sections provide case studies on different parts of the political economy and policy fields. The case studies with in part two and three focus on economic actors, major socio-economic institutions addressing corporate governance, finance, labour market, skills and training. Part four addresses social and economic policies, including welfare, liberalization and economic regulatory reforms. Switzerland in Europe also offers several insights into important literature in comparative political economy: the varieties of capitalism, small states, institutional change and patterns of democracy. This will be of interest students and scholars of comparative politics, political economy, Switzerland, small states and European Studies.

The European debt crisis has given new impetus to the debate on economic policy coordination. In economic literature, the need for coordination has long been denied based on the view that fiscal, wage and monetary policy actors should work independently. However, the high and persistent degree of macroeconomic disparity within the EU and the absence of an optimum currency area has led to new calls for examining policy coordination. This book adopts an institutional perspective, exploring the incentives for policymakers that result from coordination mechanisms in the fields of fiscal, monetary and wage policy. Based on the concept of externalities, the work examines cross-border spillovers (e.g. induced by fiscal policy) and cross-policy spillovers (e.g. between fiscal and monetary policies), illuminating how they have empirically changed over time and how they have been addressed by policymakers. Steinbach introduces a useful classification scheme that distinguishes between vertical and horizontal coordination as well as between cross-border and cross-policy coordination. The author discusses farther-reaching forms of fiscal coordination (e.g. debt limits, insolvency proceedings, Eurobonds) with special attention to how principals of state organization affect their viability. Federal states and Bundesstaaten differ in the incentives they offer for debt accumulation - and thus in their suitability for fiscal coordination. Steinbach finds that the originally strict separation between policy areas has undergone significant change during the debt crisis. Indeed, recent efforts to coordinate policy are no longer limited to one policy area, but now extend to several areas. Steinbach argues that further fiscal policy coordination can be effectively deployed to address policy externalities, but that the coordination mechanisms used must match the form of state organization in the first place. Regarding wage policies, there are significant barriers

At the heart of the European integration process is the political economy debate over whether the EU should be a market-making project, or if it should combine this with integration in employment and social policy. What has been the impact of the 2004 and 2007 rounds of enlargement upon the political economy of European integration? EU enlargement, the clash of capitalisms and the European social dimension analyses the impact of the 2004 and 2007 enlargements upon the politics of European integration within EU employment and social policy. This book analyses the main policy negotiations in the field and analyses the political positions and contributions of the Central and Eastern European Member States. Through analyses of the negotiations of the Services Directive, the revision of the Working Time Directive and the Europe 2020 poverty target, the book argues that the addition of the Central and Eastern European states has strengthened liberal forces at the EU level and undermined integration with EU employment and social policy.