EuropEos Commentaries


1 - 12 of 12

After the Euro Crisis: The President of Europe - A new paradigm for increasing legitimacy and effectiveness in the EU
01 June 2012
Sergio Fabbrini

The crisis in the eurozone– which became worse in Europe at the same time that the Lisbon Treaty entered in force at the end of 2009 – has presented the first test of the crisis management capabilities of the intergovernmental approach. As provided under the Lisbon Treaty, the European Council has been the true decision-making centre for the policies adopted in response to the financial crisis, with the Commission playing a technical role.

Necessary desirability: The inherent contradiction in the European system
09 June 2011
Riccardo Perissich

In all political systems there is a gap between the rhetoric of electoral programmes and the practical work of institutions, argues author Riccardo Perissich, but the ‘vision thing’ is often a necessary prerequisite to reaching difficult decisions. When it comes to European institutions, which include the member states acting collectively, the desirable vision – the goal of European unity – has always been there and is still very much alive.

Eurozone Debt Crisis: Reckless debtors or misguided rescuers?
26 May 2011
Stefano Micossi

Based on the latest round of difficulties to emerge from the Greek financial assistance programme, this commentary concludes that there are serious flaws in the design of the eurozone’s crisis management system that periodically push the members to the brink of financial meltdown. He warns that the same is bound to happen again with Ireland and Portugal, and each time with higher risks that the fabric of cooperation within the eurozone will tear irreparably.

Europe’s false alibi in the G2
13 May 2011
Marta Dassu

In the wake of Osama Bin Ladin’s death and against the background of a more confident United States and a more anxious China, Marta Dassù explores in this EuropEos Commentary the prospect that these two leading countries could form a ‘G2’, further marginalising Europe.
The author is Director General, International Programs, at Aspen Institute Italia and Editor of Aspenia.
 

Economic policies in the EU at a turning point
28 March 2011
Stefano Micossi

In a new EuropEos Commentary, Stefano Micossi conducts a post mortem on the comprehensive economic policy package agreed at the March 24-25th European Council and finds that the new measures effectively complete the economic arm of economic and monetary union and promise an end to stagnation and dismal employment performance throughout the EU.
Stefano Micossi is Director General of Assonime, the Association of Joint Stock Companies incorporated in Italy; Professor of Economics at the College of Europe, Bruges and member of the CEPS Board of Directors.

 

Nothing personal: The age of ego-diplomacy
17 March 2011
Riccardo Perissich

A new EuropEos Commentary laments the decline of diplomacy and the rise of ‘summits’ in recent history as the predominant way of conducting international relations. World leaders are urged to pay more attention to the sound and unimpeded analysis of their ambassadors and professional diplomatic corps whenever possible.
Riccardo Perissich is Executive Vice-President of the Council for the United States and Italy and former Director General for the Internal Market and Industry in the European Commission.
 

The eurozone in bad need of a psychiatrist
09 December 2010
Stefano Micossi

 Stefano Micossi, Director General of Assonime and member of the CEPS Board of Directors, observes in a new EuropEos Commentary that there is something surreal to the unfolding financial crisis of the eurozone, as the leaders grudgingly do what is needed to prevent disaster just minutes before it’s too late, and then in the next minute revert to the same behaviour that had brought them against the wall in the first place.

Turkey and the EU: A play in search of a script

28 September 2010
Riccardo Perissich

This Commentary warns that by continuing to act as if Turkey’s membership of the EU was still a credible prospect, the EU is dodging the critical issue of how to establish friendly and constructive relations with an independent, self-confident Turkey. More importantly, this approach prevents the EU from at last accepting that enlargement is not the only – nor necessarily the best – policy option available to deal effectively with a strategically important country on its borders.

The role of politicians in inciting financial markets to attack the eurozone
21 June 2010

Jacopo Carmassi, Stefano Micossi

While acknowledging that the sustainability of sovereign debt is a serious issue that must be confronted, this EuropEos Commentary finds that financial markets have blown the problem completely out of proportion, leading to a full-scale confidence crisis. The authors present evidence suggesting that politicians’ public disagreements and careless statements at critical junctures may have added oil to incipient fire.

Moments of Truth – A new neo-Gaullist Germany?

01 June 2010
Riccardo Perissich

The European process is based on compromises; when it comes to selling them to national electorates, countries behave differently. France feels compelled to declare victory; Germany has more often chosen to stress the concessions that it made, adding that they were painful but necessary for the sake of ‘Europe’. The reality is very different. In this new EuropEos Commentary, Riccardo Perissich, Executive Vice-President of the Council for the United States and Italy, describes that European reality, in unambiguous terms.

Do we need a resolution fund paid for by financial institutions?
17 May 2010
Stefano Micossi

In this EuropEos Commentary, Stefano Micossi reviews recent efforts to build a stronger and more coherent regulatory system for financial markets and finds the idea of a resolution fund at best a distraction, and at worst a harbinger of renewed financial instability.

Stefano Micossi is Director General of Assonime and a member of the CEPS Board of Directors.
 

A stronger, growth-oriented surveillance for EMU
19 April 2010
Pier Carlo Padoan

This Commentary finds that the recent adjustment measures taken by the Greek government in combination with the financial support proffered by the Eurogroup may not be sufficient to deal with the risk of instability in EMU in the longer term. The author argues that other imbalances, most notably the current account imbalances within EMU, need to be addressed to avoid a deflation spiral that would aggravate sustainability problems in highly indebted countries. The Greek crisis highlights the need to take steps to strengthen the economic governance of the euro area.