scholarly journals Non-bank financial companies vs. banks in the European Union: a serious regulatory asymmetry with consequences

2013 ◽  
Vol 11 (1) ◽  
pp. 18-23
Author(s):  
Grażyna Szustak
Keyword(s):  
European Union ◽  
Financial Market ◽  
Systemic Risk ◽  
Banking System ◽  
The European Union ◽  
Negative Effects ◽  
The Creation ◽  
The Eu

This paper discusses the urgent need to regulate the parallel banking system, an issue which is growing in strength – and which is both topical and very important for the security and stability of the EU financial market. It aims to identify the roles and motives of banks in the creation and development of EU NBFCs, with particular focus on the regulatory asymmetry between them. It also analyses the currently emerging and possible future negative effects of such cooperation, including a dangerous accumulation of systemic risk.

scholarly journals Den Stier das Tanzen lehren?

2012 ◽  
Vol 42 (168) ◽  
Author(s):  
Andreas Fisahn
Keyword(s):  
European Union ◽  
Financial Market ◽  
Debt Crisis ◽  
Social Benefits ◽  
The European Union ◽  
German Government ◽  
Capital Movements ◽  
Authoritarian State ◽  
The Status ◽  
The Eu

The crisis of the European Union cannot be solved by austerity programs. Therefore a closer look at the reasons of the crisis seems to be reasonable, which includes a description of the development of the EU from 1951 to present times. The Union started as a tariff union and evolved through different steps to an order of competitive states. The main fields of competition between the states are taxes and social costs, which leads to tax dumping and a race to the bottom in social benefits. Starting in 1990 the EU achieved the status of an open financial market, with the duty of deregulation of capital movements being stipulated in Treaties. In the end the problem is not a debt crisis but a crisis of the structure of the European Union. The solution – which especially the German government prefers – may be the first step on the way to an authoritarian state.

scholarly journals The “New” Environmental Policy Of The European Union: A Path To Development Of A Circular Economy And Mitigation Of The Negative Effects Of Climate Change

2016 ◽  
Vol 19 (2) ◽  
pp. 57-73 ◽  
Author(s):  
Zofia Wysokińska
Keyword(s):  
Climate Change ◽  
European Union ◽  
Environmental Policy ◽  
Circular Economy ◽  
Low Carbon ◽  
The European Union ◽  
Negative Effects ◽  
Low Carbon Economy ◽  
Carbon Economy ◽  
The Eu

This paper analyses the evolution of the new environmental policy of the European Union in the context of the efforts undertaken to moderate the negative effects of climate change. It describes all the activities in the European Union designed to implement new tools of the EU environmental policy, such as low carbon economy technologies, tools that improve the efficiency of managing the limited natural resources, the environmentally friendly transport package, etc. All of them are aimed at laying the foundations of the circular economy, which may also be referred to as a closed-loop economy, i.e., an economy that does not generate excessive waste and whereby any waste becomes a resource.

Criminalizing Waste Management Activities in Albania in the Light of the European Union Legislation

2014 ◽  
Vol 22 (1) ◽  
pp. 79-99
Author(s):  
Enkelejda Turkeshi
Keyword(s):  
European Union ◽  
Waste Management ◽  
Criminal Law ◽  
Legal Framework ◽  
Criminal Code ◽  
The European Union ◽  
Minimum Standard ◽  
Negative Effects ◽  
Illegal Waste ◽  
The Eu

Illegal waste management activities violate specific rules that aim at preventing or reducing the negative effects they may have on the environment and human health. For the purpose of providing a more effective protection of the environment, in many countries and since 2008 even at the European Union (EU) level, besides the relevant administrative offences, it is also provided for a specific criminal offence against environment concerning serious infringements of the waste management legislation. This paper examines the current legal framework in Albania concerning waste-related criminal offences, against the minimum standard set forth by the EU in the Directive 2008/99/EC on the protection of environment through criminal law. While the adoption of the new framework law on Integrated Waste Management in 2011 as part of Albania’s efforts in aligning its legislation to that of the EU, has been a positive step towards more stringent rules concerning waste management, thus helping in tackling the serious and constantly evolving problems that the country has been facing in this field for years, the paper suggests that certain amendments to the Criminal Code are also necessary, as the minimum standard of the EU requires that criminal law applies at least in the case of particularly serious infringements of the new waste management legislation. These amendments would increase the protection of the environment and further the alignment of the Albanian legislation with that of the EU, while the country is seeking to fulfill obligations for EU membership.

scholarly journals THE MOLDOVAN BANK FRAUD (2012-2015). A process tracing analysis of the Moldovan $1 billion money laundering

2020 ◽  
pp. 96-107
Keyword(s):  
European Union ◽  
Money Laundering ◽  
Secondary Analysis ◽  
Banking System ◽  
The European Union ◽  
Eu Membership ◽  
The Difference ◽  
The Republic ◽  
The Stability ◽  
The Eu

In the 2012-2015 period, $1 billion have been stolen from three Moldovan banks, which is the equivalent of 12% of the country’s GDP. The highly fraudulent environment in the RM allowed for the successful application of fraudulent schemes for three years, without it being seized and frozen. This paper seeks to decipher the schemes that were applied as well as argue how the integration into the European Union would have lowered the corruption and thereby prevent the fraud from happening. Even though several scholars discussed the bank fraud and how it affected the relationship between Moldova and the EU, they do not address how the steps of integration into the European Union could gradually regulate the level of corruption in the RM and subsequently eliminate the possible methods of committing the bank fraud. Through a comparative analysis of Romania and the Republic of Moldova, I aim to demonstrate that the difference between the level of corruption and the stability of the banking system in these two countries is due to EU membership. Further, through secondary analysis of qualitative data, and semi-constructed interviews, I conclude that, in theory, my argument holds – the instruments the EU applies on the candidate countries would not have allowed the fraudulent schemes to be put into action. However, the EU failed to apply the conditionality concept on Romania and thus, it is possible that the money laundering in the RM could have happened even if it had been a member of the EU.

scholarly journals Die EU und ihre Nachbarschaftsbeziehungen: etablierte Assoziierungsmodelle und neue Grundformen

IG ◽  
2019 ◽  
Vol 42 (2) ◽  
pp. 83-96 ◽  
Author(s):  
Barbara Lippert
Keyword(s):  
European Union ◽  
European Economic Area ◽  
The European Union ◽  
European Economic ◽  
Economic Area ◽  
The Creation ◽  
The Eu

In this article, the author presents established models of association of the European Union (EU) with European third countries. She shows their different strategic perspectives, outlines benefits and problems, and examines the potential for developing these relations. Basically, these can go in the direction of expanding or dismantling partial sectoral integration. In addition, new basic forms of EU neighbourhood relations are discussed: the introduction of a new status of partial membership in the EU and - inspired by the European Economic Area - the creation of a European political and economic area.

Negative and Positive Integration in EU Economic Law: Between Strategic Denial and Cognitive Dissonance?

2012 ◽  
Vol 13 (8) ◽  
pp. 979-1012 ◽  
Author(s):  
Pedro Caro de Sousa
Keyword(s):  
European Union ◽  
Market Integration ◽  
Due Process ◽  
Political Process ◽  
Prima Facie ◽  
Internal Market ◽  
The European Union ◽  
Degree Of Control ◽  
The Creation ◽  
The Eu

It is a generally held assumption that the EU economic free movement rights are tools in the creation of a European internal market; and that their main goal is the (negative) market integration of different national markets. Yet these freedoms do not determine how market integration is to proceed, or which kind of integrated European market will emerge. The resulting market may be more or less regulated, and the creation of the relevant regulatory rules may be allocated to a variety of sources. These options are reflected in the different proposed tests used to determine whether a national measure prima facie infringes one of the market freedoms. The proposed tests fall into two main categories—broad tests and narrow tests—and each type has its own implications for European integration. Broad tests, usually associated with obstacle tests or even with economic due process clauses, tend to be seen as having three main outcomes. One result of broad tests is centralization, implying that ultimate decisions concerning the legitimacy of national law rests with EU institutions, and particularly with the Court of Justice of the European Union (“the Court” or “CJEU”). Another outcome of broad tests is the possible harmonization of national laws through the European political process by increasing the amount of national legislation susceptible to being harmonized under Articles 114 to 118 on the Treaty on the Functioning of the European Union (“TFEU”). A third consequence of broad tests is deregulation through the elimination of national rules creating obstacles to trade. Alternatively, narrow approaches-usually associated with discrimination or typological tests-are usually coupled with regulatory pluralism via a greater degree of control of the harmonization competences of the EU, decentralization through the protection of a greater sphere of Member States' autonomy, and economic agnosticism. Views on the potential outcomes of broad and narrow tests are, in turn, related to normative debates about the ideal levels of centralization, harmonization, and regulation in the internal market.

scholarly journals The Republic of Moldova and visa-free regime: Problems and solutions

2020 ◽  
Vol 16 (2) ◽  
pp. 225-250
Author(s):  
Vladimir A. Gutorov ◽  
◽  
Valeriu Mosneaga ◽  
Tatiana Turco ◽  
◽  
...  
Keyword(s):  
European Union ◽  
The European Union ◽  
Negative Effects ◽  
Republic Of Moldova ◽  
Security Environment ◽  
Recent Success ◽  
Problems And Solutions ◽  
The Republic ◽  
Economic Ties ◽  
The Eu

The article analyzes the visa-free regime of the Republic of Moldova within the framework of the CIS and the European Union. The main steps towards achieving the visa-free regime are reviewed. The authors investigate the process of implementing the visa-free regime with the European Union as a recent success of the Republic of Moldova. At the same time, the authors identify the positive and negative effects that accompany the introduction of the Republic of Moldova — European Union visa-free regime. A comparative analysis with other post-Soviet countries that have also obtained the visa-free regime (Georgia and Ukraine) is conducted. The authors note that a visa- free regime is an important tool that allows the EU to regulate relations with third countries. This regime provides important benefits for citizens and strengthens social, cultural, and economic ties between the EU and its partners. At the same time, the visa-free regime holds it responsible for maintaining the progress achieved in the framework of the visa liberalization dialogues and for ensuring a well-managed migration and security environment. The article makes wide use of statistical and sociological data as well as analytical and empirical materials.

scholarly journals The Problem of Gibraltar in British-Spanish Relations in the Context of Brexi

2020 ◽  
Vol 99 (6) ◽  
pp. 64-75
Author(s):  
Natalia Anikeeva ◽  
◽  
Natalia Kapitonova ◽  
Keyword(s):  
European Union ◽  
European Commission ◽  
Regional Cooperation ◽  
European Council ◽  
Controversial Issues ◽  
The European Union ◽  
Freedom Of Movement ◽  
The Creation ◽  
The Uk ◽  
The Eu

The article deals with the problem of Gibraltar in British-Spanish relations in light of Brexit. The provisions of the Treaty of Utrecht in 1713 do not allow the UK and Spain to reach a compromise and move forward in resolving the dispute over Gibraltar. From Britain’s perspective, the Gibraltar issue appears to be a permanent and irritating element in relations with Spain. Gibraltar does not seek to return to the jurisdiction of Spain, as indicated by the results of referendums held in Gibraltar in 1967 and 2002. During the negotiations on regional cooperation in 2004, the parties announced the creation of the Forum "Dialogue on Gibraltar". In 2006, within the framework of the first ministerial meeting of the Forum, the Cordoba agreement was signed, which does not mention the problem of sovereignty, as well as other controversial issues of the Gibraltar problem, but specifically settles inter alia the problem of freedom of movement according to one of the fundamental principles of the EU. Spain considered Brexit as an opportunity to resolve a long-running historic dispute with London. According to Madrid, all parties lose from Brexit. At the same time, Spain managed to strengthen its position on the Gibraltar issue, having enlisted the support of the European Commission and the European Council. The UK as a whole voted to leave the European Union. This puts the Gibraltar in a difficult position: they do not want to leave the EU, but at the same time intend to keep belonging to the British crown.

scholarly journals Untitled

2006 ◽  
Vol 12 ◽  
pp. 36-41
Author(s):  
Ana Maria Anghelea
Keyword(s):  
European Union ◽  
Maastricht Treaty ◽  
National Identities ◽  
European Identity ◽  
The European Union ◽  
Potential Threat ◽  
Member States ◽  
The Creation ◽  
The Eu

When at the end of the 1980s the EU launched a number of policies aimed to creating a European identity, the member states responded by incorporating into the Maastricht Treaty a clause stating that the European Union should respect the member states’ respective national identities (article F, point1). This reaction, along with the introduction of principle of subsidiary and the rejection of the word “federal”, revealed that many member states considered the creation of a European identity as a potential threat to their own national identities and their citizen’s national loyalties (Hojelid, 2001).

scholarly journals THE EUROPEAN UNION TRAINING MISSION IN MALI – HUNGARY’S INVOLVEMENT IN THE MISSION

2013 ◽  
pp. 25-37
Author(s):  
János Besenyő
Keyword(s):  
European Union ◽  
Detailed Analysis ◽  
Military Intervention ◽  
The European Union ◽  
Military Assistance ◽  
Underlying Causes ◽  
The Creation ◽  
Insight Into ◽  
The Eu

Following the limited military intervention in Mali in 2013, the European Union decided to launch a training mission tasked with the modernization of the Malian government army and the provision of military assistance. The essay’s main goal is to provide a detailed analysis of the EU’s training mission in Mali (EUTM Mali), beginning with the events leading up to the creation of the mission, then proceeding with the description of the mission and its execution so far. The article examines the underlying causes that the mission strives to solve, as well as the situational chal- lenges that the EU faces in Mali. It also provides insight into the role Hungary un- dertakes in EUTM Mali. Po omejenem vojaškem posredovanju v Maliju leta 2013 se je Evropska unija odločila začeti misijo za usposabljanje za posodobitev vojske malijske vlade in zago- tovitev vojaške pomoči v državi. Glavni cilj tega prispevka je predstaviti podrobno analizo misije EU za usposabljanje v Maliju (EUTM Mali). Avtor začne prispevek z opisom dogodkov, ki so privedli do oblikovanja misije, ter nadaljuje z opisom misije in njenega izvajanja do zdaj. V njem preučuje vzroke za krizo, ki jih misija poskuša odpraviti, in situacijske izzive, s katerimi se EU spoprijema v Maliju, ponudi pa tudi vpogled v vlogo Madžarske v EUTM v Maliju.

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