scholarly journals EUROPEAN FINANCIAL SUPPORT AND SUCCESFUL ROAD PPP PROJECTS

2016 ◽  
Author(s):  
Laura Garrido Maza
Keyword(s):  
Financial Support ◽  
Multiple Regression Model ◽  
Point Of View ◽  
Financial Instruments ◽  
The European Union ◽  
Investment Bank ◽  
Economic Point ◽  
Road Projects ◽  
European Investment ◽  
The Eu

The EU has been promoting the use of PPPs in order to accelerate the development of the Trans-European Transport Network (TEN-T) for ensuring economic, social and territorial cohesion and increasing accessibility throughout the Union. To encourage the use of PPPs, the European Commission has put several financing mechanisms at the disposal of the Member States, including a series of innovative financial instruments developed along with the European Investment Bank. The Bank has in turn played a major role in the promotion and financing of PPPs across the EU. The paper undertakes a review of the main financial instruments developed by the EU that are available to PPPs so as to determinate to what extent the European financial support has been channelled to road projects under that scheme in Spain. On the basis of the results obtained, a multiple regression model has been developed to analyse whether the PPP projects which enjoyed the financial support of the European Union tend to be significantly more successful from an economic point of view. The paper concludes that there is a positive correlation between receiving European financial support and the success of the PPP road projects.DOI: http://dx.doi.org/10.4995/CIT2016.2016.3492

scholarly journals Konsekwencje brexitu dla finansów Unii Europejskiej

Studia BAS ◽  
2021 ◽  
Vol 3 (67) ◽  
pp. 133-152
Author(s):  
Kamil Kotliński
Keyword(s):  
Point Of View ◽  
Additional Contribution ◽  
The European Union ◽  
Investment Bank ◽  
European Central ◽  
The Third ◽  
The Uk ◽  
European Investment ◽  
The Eu ◽  
Budget Revenue

The aim of the article is to identify the consequences of Brexit from the point of view of the EU finances. The first section focuses on the share of member states in the EU budget revenue. The author attempted to estimate the additional contribution of each member state. The second section briefly shows in which EU programmes the UK still takes part. The third section concentrates on the adjustment of the shares in the capital of the European Investment Bank and the European Central Bank to the reduced number of shareholders. The next part discusses the budgetary correction mechanisms as a historical remnant of the British rebate. In the last section the author describes the Brexit Adjustment Reserve, which supports regions and sectors most affected by the United Kingdom’s withdrawal from the European Union.

Wie die EU den Weg aus der „Pandemie-Krise“ findet: Lehren aus der Krisenpolitik nach 2008

IG ◽  
2021 ◽  
Vol 44 (4) ◽  
pp. 328-335
Author(s):  
Hartmut Marhold
Keyword(s):  
Debt Crisis ◽  
Financial Economic ◽  
Learning System ◽  
The European Union ◽  
Investment Bank ◽  
The Public ◽  
Active Player ◽  
European Investment ◽  
The Eu

The European Union (EU) invests huge resources in overcoming the pandemic crisis and does so as a learning system: The Union learned lessons from the previous, the financial, economic and state debt crisis after 2008, in many ways. The EU assumes now definitely the role of an active player in the economy, leaving behind the neoliberal doctrine; she suspends the restrictive budgetary policy, which prevented already in 2008 and the following years adequate solutions; she reshaped the control over its financial aid programmes so that harsh conflict between member states („troika“) are mitigated; the Union further refined the public private partnership mechanisms established unter the aegis of the European Investment Bank (EIB); the European Central Bank (ECB) assumes now a role still disputed after 2008; the flexibility clauses of the Lisbon Treaty, just put into force after 2008, are now extensively applied; and, more than anything else, the Union aims at a change of paradigm by putting the NextGenerationEU programme at the service of sustainable development (enshrined in the Green Deal).

scholarly journals GEORGIA'S ECONOMY IN THE SPACE OF CONTRADICTIONS BETWEEN REGIONAL POWERS

2016 ◽  
pp. 219-233
Author(s):  
A. S. Degtev ◽  
A. Margoev ◽  
A. A. Tokarev
Keyword(s):  
Regional Analysis ◽  
Point Of View ◽  
The European Union ◽  
National Interests ◽  
Financial Flows ◽  
Economic Point ◽  
Caucasus Region ◽  
Chinese Investment ◽  
The Usa ◽  
The Eu

The article deals with the economic ties between Georgia and four countries neighbouring the Caucasus region: Russia, Turkey, Iran, and Kazakhstan. The authors focus their attention on regional analysis and, for comparison, give figures on Georgia's relations with three global players: the USA, the EU, and the PRC. The authors postulate at least three challenges to Russia’s interests in Georgia. First, both Georgian establishment and society regard integration with the EU and NATO as main goal of the state, which in case of NATO evidently contradicts Russian national interests. Second, from the economic point of view, the USA is no longer a financial driver of Georgian reforms. The EU, main trade partner of Georgia for the past 15 years, has replaced it. The CIS surpasses the EU in commodity turnover with Georgia, however it is in fact an amorphous organization that formally combines its member-states and lacks for common economic policy, unlike the European Union that acts as an integration association. Third, Chinese investment in Georgian infrastructure within the "New Silk Way" project serves as a ponderable alternative to Russian financial flow. For a comprehensive analysis of the situation the authors used some figures concerning commodity trade, FDI, cross-border financial flows, tourism, and transport development. Major pipeline branches, including the planned projects, are taken into account as well. The findings are based on the results of desk research, and on empirical data obtained through meetings with Georgian government officials.

3. The institutions of the European Union

2021 ◽  
pp. 42-78
Author(s):  
Margot Horspool ◽  
Matthew Humphreys ◽  
Michael Wells-Greco
Keyword(s):  
European Union ◽  
European Central Bank ◽  
European Council ◽  
The European Union ◽  
Investment Bank ◽  
European Investment Bank ◽  
European Central ◽  
European Investment ◽  
Committee Of The Regions ◽  
The Eu

This chapter discusses the role and composition of the institutions of the EU. These include the European Council, the Council, the Commission, the European Parliament, the Court of Justice of the European Union (CJEU) and the General Court, the Court of Auditors, the European Economic and Social Committee (EESC), the Committee of the Regions (COR), the European Investment Bank and the European Central Bank. This chapter also discusses the EU’s associated bodies or agencies as well as their respective roles and the ways in which they interrelate with the EU institutions.

scholarly journals Advantages and Risks of Accession to Eurozone for the Czech Republic

2021 ◽  
Vol 21 (3) ◽  
pp. 110-118
Author(s):  
Andrzej Habarta ◽  
◽  
Alexandr Novikov ◽  
Keyword(s):  
European Union ◽  
Czech Republic ◽  
Labour Productivity ◽  
Point Of View ◽  
The European Union ◽  
Economic Point ◽  
The Czech Republic ◽  
Euro Adoption ◽  
Structural Problems ◽  
The Eu

The article examines the benefits and risks of the euro adoption for the Czech Republic. In the last decade, in the light of structural problems of the economic and monetary union of the European Union and the Czech euroscepticism that has intensified against this background, the problem has become more of political nature and one of burning issues in relations between the Czech Republic and the EU. The paper analyzes the benefits and risks of such a decision. Special attention is paid to political factors – starting from the possible membership in the EMU institutions and ending with the potential overall improvement of relations with the leading countries of the EU. The authors conclude that from an economic point of view, the eurozone membership is beneficial for the Czech Republic if the level of labour productivity increases before the adoption. However, this issue presents the problem of the overall geopolitical orientation of the Czech Republic, which has to choose between striving to get into the «core» of the integration or the relentless defense of its national sovereignty within the European Union.

scholarly journals Change Dynamics of Electricity Prices for Households in the European Union between 2011 and 2020

2021 ◽  
Vol 4 (32) ◽  
pp. 97-115
Author(s):  
Łukasz Kozar ◽  
Marta Paduszyńska
Keyword(s):  
European Union ◽  
Point Of View ◽  
Electricity Price ◽  
The European Union ◽  
Electricity Prices ◽  
Economic Point ◽  
Change Dynamics ◽  
Cluster Analysis Method ◽  
European Union Member States ◽  
The Eu

The aim of the article: The aim of the article is to evaluate and analyze the dynamics of electricity prices for households in the European Union member states (EU-27) in the period 2011–2020. The study also focuses on the key components of electricity prices in the countries analyzed. The discussed issues are important from the socio-economic point of view. It refers to the issue of sustainable development, where electricity prices are addressed in relation to the problem of energy poverty of households. Methodology: The study is of a theoretical and analytical character. In addition to the review of available dnational and foreign literature, Eurostat data on electricity prices for households in the EU-27 were analysed. Moreover, the paper presents the application of a selected cluster analysis method, i.e. the k-means method, to assess the situation of the EU-27 countries in terms of electricity prices for households in the analysed period of 2011–2020. Results of the research: The result of the analyses undertaken is a presentation of the share of VAT and other taxes and levies in the price of electricity for households. The analyses showed differences between the countries in the structure of establishing the electricity price for households. Only in three countries (Bulgaria, Hungary, Slovakia) it was found that there was no share of other taxes and levies in the electricity price. In turn, the applied k-means method contributed to obtaining the division of countries into four groups reflecting the differentiation in terms of the amount of electricity price for households in the period under study.

scholarly journals THE NEW INTERNATIONAL CHAMBERS OF THE PARIS COURTS – INNOVATIVE WAY FOR RESOLUTION OF COMMERCIAL DISPUTES

2018 ◽  
Vol 28 (1) ◽  
pp. 241-246
Author(s):  
Ljuben Kocev
Keyword(s):  
Dispute Resolution ◽  
Recognition System ◽  
Point Of View ◽  
The European Union ◽  
Economic Point ◽  
Starting Point ◽  
Rules Of Procedure ◽  
Council Regulation ◽  
Court Of Appeal ◽  
The Eu

The process of the withdrawal of the United Kingdom form the European Union has been discussed predominantly from a political and economic point of view. However, the consequences are more far reaching. With UK on the doorstep of leaving the EU, the decisions issued by its courts would no longer benefit from the recognition system provided in the Brussels Regulation (Council Regulation (EC) No. 44/2001). As a result of this, it is expected that London would no longer be seen as a primary destination for international litigants.In the awaiting of the aftermath from the Brexit, other cities and member state countries of the EU have started the race to position themselves as the next “legal hub”. While other member states have been vocal about offering alternative courts, so far France has been at the forefront of this initiative. On 7 February 2018 two Protocols were signed by the French Minister of Justice, the President of the Paris Bar, and the presidents of the Paris Court of Appeal and the Paris Commercial Court. With the first protocol amendments were made to the already existing International Chamber within the Paris Commercial Court, whereas with the second Protocol a new International Chamber has been created within the Paris Court of Appeal. The aim of the creation of these international divisions within the Paris Court is to create an attractive jurisdictional system which would meet the expectations of the economic actors. Paris has already been one of the most important world centers for dispute resolution as a result of the work of the International Chamber of Commerce and its work in the field of Alternative Dispute Resolution (ADR). However, with this initiative Paris has an opportunity to further strengthen its attractiveness.The adoption of the two Protocols is a groundbreaking move which sets forth innovative rules of procedure, incorporating unique approaches in the field of international commercial litigation. The rules of procedure contain an increased level of flexibility offering the parties a chance for litigations with great similarity to arbitration. Most notably, the new Protocols provide for the usage of English as language in the course of the proceedings, adapted procedure which should better suit the need of the parties, focus on oral testimonies instead of written witness and expert submissions, possibility for cross – examination, broader scope of tools for securing evidence, such as requests for document production, as well as the possibility of non- French lawyers to appear in front of the Courts. The aim of this article is to provide an insight in the new structure of the International Chambers by reviewing the novelties in the two new Protocols. The article reflects on similar initiatives which have been undertaken in other EU members and countries worldwide, and whether this can be the starting point for more drastic and revolutionary reforms in the traditional litigation system.

scholarly journals From a policy bank to a crowding-in bank: The development of the European Investment Bank in the last ten years, as seen through its business model

2020 ◽  
Vol 1 (1) ◽  
pp. 27-38
Author(s):  
Helen Kavvadia
Keyword(s):  
Business Model ◽  
New Economy ◽  
The European Union ◽  
Investment Bank ◽  
European Investment Bank ◽  
Central Interest ◽  
Prime Objective ◽  
Policy Bank ◽  
European Investment ◽  
The Eu

Abstract The European Investment Bank (EIB), the primary financial arm of the European Union (EU) has become of central interest in the last ten years. The EIB has been increasingly solicited by the EU to bolster the European economy during the global crisis and support its recovery thereafter. Calls have recently been voiced for the EIB to contribute to the European Green Deal and the post-pandemic economic stimulus. This paper studies the EIB’s role in the European economy through its business model in the period from 2009–2019. The paper’s prime objective is to investigate what enabled the EIB to act in a countercyclical mode and how the EIB met the new economy needs in this turbulent environment.

scholarly journals The problem of disintegration: case of Brexit

2019 ◽  
Keyword(s):  
European Union ◽  
Point Of View ◽  
Economic Factors ◽  
The European Union ◽  
Economic Point ◽  
Political Consequences ◽  
Modern Development ◽  
Macroeconomic Indicators ◽  
The Uk ◽  
The Eu

There are constant changes in the modern development of the society, signalling that the existing orders are no longer suitable for the participants of trade and political agreements. The prospect of the UK leaving the EU took the markets and politicians by surprise. It is clear that Brexit brings economic and political consequences of disintegration not only for the United Kingdom, but also for the EU partners and for the future of European integration. The subject of our article is to find out the causes for disintegration processes in the UK. The purpose of the article is to analyse the economic and non-economic factors influencing the decision of the referendum on leaving the European Union. In order to look at the reasons for Brexit, this article collects economic and non-economic factors that influenced it. The study uses general scientific methods: analysis of the macroeconomic indicators of the UK over the years of participation in the EU, data fromthe latest scientific papers on Brexit. The results suggest that unemployment rate, lower GDP or inflation cannot be decisive when it comes to leaving the EU. In line with this view many contemporary studies show that the exit is not profitable from an economic point of view and will affect the macroeconomic indicators of the state. Moreover, there is considerable normative uncertainty about how the exit process will be carried out. This further indicates that the process is unlikely to be completed. In conclusion we say that the main reasons for Brexit are determined socially, historically and geographically and associate with the strong identification of voters primarily as citizens of the nation-state, rather than the European Union.

Austrian Veto against European Union Membership Negotiations with Turkey

2020 ◽  
Vol 8 (1) ◽  
pp. 103-122
Author(s):  
Ewa Kaczan-Winiarska
Keyword(s):  
European Union ◽  
European Commission ◽  
Security Policy ◽  
Negotiation Process ◽  
Point Of View ◽  
The European Union ◽  
Strategic Partner ◽  
Key Factor ◽  
European Standards ◽  
The Eu

The Austrian government is extremely sceptical about the accession negotiations which are conducted by the European Commission on behalf of the European Union with Turkey and calls for the negotiation process to end. Serious reservations of Vienna have been raised by the current political situation in Turkey under the rule of President Recep Tayyip Erdogan, as well as by the standards of democracy in Turkey, which differ greatly from European standards. Serious deficiencies in rule of law, freedom of speech and independence of the judiciary, confirmed in the latest European Commission report on Turkey, do not justify, from Vienna’s point of view, the continuation of talks with Ankara on EU membership. In fact, Austria’s scepticism about the European perspective for Turkey has a longer tradition. This was marked previously in 2005 when the accession negotiations began. Until now, Austria’s position has not had enough clout within the European arena. Pragmatic cooperation with Turkey as a strategic partner of the EU, both in the context of the migration crisis and security policy, proved to be a key factor. The question is whether Austria, which took over the EU presidency from 1.7.2018, will be able to more strongly accentuate its reservations about Turkey and even build an alliance of Member States strong enough to block Turkey’s accession process.

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