Section III. Prospects for the European Union

2002 ◽  
Vol 181 ◽  
pp. 25-37
Keyword(s):  
European Union ◽  
Financial Markets ◽  
Euro Area ◽  
Domestic Demand ◽  
The European Union ◽  
Medium Term ◽  
Sharp Drop ◽  
External Demand ◽  
Stability Pact ◽  
Recent Developments

The outcome for growth in the Euro Area in the first quarter of 2002 was slightly weaker than our April projections. Output rose by 0.3 per cent relative to the previous quarter, following a decline of the same magnitude in the final quarter of last year. The recovery stemmed primarily from a sharp drop in imports of 0.8 per cent, rather than a pickup in domestic or external demand. The weaker outcome for the first quarter, coupled with recent developments in financial markets, dampens the outlook for the year as a whole. Industrial production rose by 0.8 per cent in March, but declined by 0.7 per cent in April and edged up by only 0.1 per cent in May, supporting our expectation that recovery will be gradual. We forecast growth of 1¼ per cent in the Euro Area this year, but anticipate a stronger improvement next year helped by a recovery of domestic demand. This will be supported by tax cuts in several countries, despite the fact that the Euro Area's three largest economies appear unlikely to meet their Stability Pact pledge of achieving a budget at or close to balance by 2004. We expect output in the Euro Area to grow by about 2½ per cent next year, and by about 2½ -2¾ per cent per annum throughout the medium-term.

The impact of the financial crisis on the Euro Area

2008 ◽  
Vol 206 ◽  
pp. 90-100
Keyword(s):  
Economic Growth ◽  
Financial Markets ◽  
Euro Area ◽  
Banking Sector ◽  
Gdp Growth ◽  
Medium Term ◽  
Real Gdp ◽  
External Demand ◽  
Short Run ◽  
The Impact

This year should see a sharp downturn in the Euro Area's economic growth. After peaking at 2.6 per cent in 2007, real GDP growth is projected to slow down to around 1¼ per cent this year and fall to about ¼ per cent in 2009. We expect GDP growth in the Euro Area to remain just below 1 per cent in 2010, before returning to trend in the medium term. In 2008 the Euro Area is forecast to experience two consecutive quarters of falling output, due to declining external demand and the severe disruption of the banking sector and financial markets. Although the worst of the crisis appears to be over following concerted intervention by European governments (See Box A), the Euro Area is likely to go through a period of sustained economic weakness in the short run.

Ocena antykryzysowej polityki gospodarczej Stanów Zjednoczonych i wybranych państw członkowskich Unii Europejskiej w latach 2005–2014

2016 ◽  
pp. 26-46
Author(s):  
Marcin Jan Flotyński
Keyword(s):  
United States ◽  
European Union ◽  
Financial Markets ◽  
Global Economy ◽  
Global Financial Crisis ◽  
The United States ◽  
The European Union ◽  
High Volatility ◽  
The Global Financial Crisis ◽  
Domestic Products

The global financial crisis in 2007–2009 began a period of high volatility on the financial markets. Specifically, it caused an increased amplitude of fluctuations of the level of gross domestic products, the level of investment and consumption and exchange rates in particular countries. To address the adverse market circumstances, governments and central banks took actions in order to bolster the weakening global economy. The aim of this article is to present the anti-crisis actions in the United States and selected member states of the European Union, including Poland, and an assessment of their efficiency. The analysis conducted indicates that generally the actions taken in the United States in response to the crisis were faster and more adequate to the existing circumstances than in the European Union.

Dramatis Institutiones

2017 ◽  
Author(s):  
C. Randall Henning
Keyword(s):  
European Union ◽  
Central Bank ◽  
International Monetary Fund ◽  
Euro Area ◽  
European Central Bank ◽  
The European Union ◽  
European Central ◽  
Regime Complex ◽  
Basic Facts ◽  
Institutional Conflict

The regime complex for crisis finance in the euro area included the European Council, Council of the European Union, and Eurogroup in addition to the three institutions of the troika. As the member states acted largely, though not exclusively, through the council system, these bodies stood at the center of the institutional mix. This chapter reviews the institutions as a prelude to examining the dilemmas that confronted them over the course of the crises. It presents a brief review of some of the basic facts about their origins, membership, and organization. Each section then delves more deeply into these institutions’ governance and principles to understand their capabilities and strategic challenges. As a consequence of different mandates and design, the European Commission, European Central Bank, and International Monetary Fund diverged with respect to their approach to financing, adjustment, conditionality, and debt sustainability. This divergence set the stage for institutional conflict in the country programs.

Recent Developments in Social Policy in the New European Union

ILR Review ◽  
1994 ◽  
Vol 48 (1) ◽  
pp. 5-27 ◽  
Author(s):  
John T. Addison ◽  
W. Stanley Siebert
Keyword(s):  
European Union ◽  
Labor Market ◽  
Recent Progress ◽  
Adjustment Costs ◽  
Labor Policy ◽  
Market Regulation ◽  
The European Union ◽  
Recent Developments ◽  
Labor Market Regulation ◽  
Future Direction

This paper assesses the recent progress and future direction of labor policy in the European Community, now the European Union. The authors show that most of the mandates foreshadowed under the December 1989 Community Social Charter have now been enacted into law. They analyze the possible costs, as well as the benefits, of these firstphase mandates and show the link between these adjustment costs and the Community's policy of providing subsidies to its poorer member states. They also demonstrate how the new Treaty on European Union, agreed to at Maastricht in December 1991, has increased the scope for Community-level labor market regulation.

scholarly journals The Fiscal Compact and the European Constitutions: ‘Europe Speaking German’

2012 ◽  
Vol 8 (1) ◽  
pp. 1-7 ◽  
Author(s):  
LB ◽  
JHR
Keyword(s):  
European Union ◽  
Czech Republic ◽  
Monetary Union ◽  
Euro Area ◽  
Economic And Monetary Union ◽  
Economic Policies ◽  
The European Union ◽  
The Czech Republic ◽  
The United Kingdom ◽  
Fiscal Compact

In between the writing of this editorial and the publication of this issue of EuConst, the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union, in everyday parlance the ‘Fiscal Compact’, will have been signed by the representatives of the governments of the contracting parties — the member states of the European Union minus the United Kingdom and the Czech Republic. The Fiscal Compact is intended to foster budgetary discipline, to strengthen the coordination of economic policies and to improve the governance of the euro area.

scholarly journals The de-institutionalisation of power beyond the state

2021 ◽  
pp. 135406612110536
Author(s):  
Jonathan White
Keyword(s):  
European Union ◽  
Problem Solving ◽  
Historical Context ◽  
The State ◽  
The European Union ◽  
Transnational Governance ◽  
Recent Developments ◽  
Political Structures

The making of modern authority centred on efforts to formalise and de-personalise power, and transnational orders such as the European Union have often been viewed as an extension of that project. As this article argues, recent developments tell a different story. More than a decade of crisis politics has seen institutions subordinated to and reshaped by individuals and the networks they form. Locating these tendencies in a wider historical context, the article argues that greater attention to informality in transnational governance needs to be paired with greater recognition of the normative questions it raises. Just as a separation between rulers and the offices of rule was central to the making of modern legal and political structures, the weakening of that separation creates legitimacy problems for contemporary authorities both national and supranational. Rather than acclaimed as flexible problem-solving, the step back from institutions should be viewed as a challenge to accountable rule.

Rural Romanian Education

2015 ◽  
pp. 318-336
Author(s):  
Diana Presadă ◽  
Mihaela Badea
Keyword(s):  
European Union ◽  
Rural Education ◽  
Rural Areas ◽  
Major Part ◽  
Teaching Staff ◽  
The European Union ◽  
Education Policies ◽  
Recent Developments ◽  
Educational Component ◽  
Rural Process

This chapter presents an overview of the Romanian rural education system with an emphasis on the projects implemented in the rural areas, foreign language teaching being a major part of these projects in this sector which, among other shortcomings, is affected by a serious shortage of qualified teaching staff. It examines the recent developments in the educational rural process highlighting the education policies adopted by the Romanian government as part of the intergration program in the European Union. As well as describing the present state of this educational component, it proposes a number of solutions to the identified issues that could be put into practice for the benefit of the system.

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