scholarly journals How Memoranda of Understanding Have Affected EU Democratic Institutions in Southern EU Countries

2017 ◽  
Vol 5 (2) ◽  
pp. 25
Author(s):  
Anastasia Chr. Lekka
Keyword(s):  
Decision Making ◽  
Sovereign Debt ◽  
Debt Crisis ◽  
Economic Downturn ◽  
Economic Policies ◽  
The European Union ◽  
National Parliaments ◽  
European Continent ◽  
Eu Countries ◽  
Eu Member States

The recent recession having emerged in 2007 has been the worst economic downturn since the time of Great Depression of 1929 in USA and spread across the European continent. In many European countries this led to severe sovereign debt crisis beginning in 2010 and was followed by implementation of austerity measures with significant impact on public, social and employment sector. Those tough austerity measures resulted in structural reforms of welfare and labor market especially in Southern EU countries like Greece, Spain, Portugal, Ireland and Italy representing the most prominent examples. These policies were imposed to a large extend through the so called “Troika” which was an interaction between internal EU and external Organizations, like the European Union, the European Central Bank and International Monetary Fund respectively.Citizens realize that their national economic institutions are no longer responsible for the decision making on major social and economic policies, on economic and welfare policies, on privatization and sale of public assets. Consequently, citizens tend to question if this constrained democracy deserves further support. This is enhanced by the fact that National Parliaments no longer develop policies but rather align with policies dictated by the above stated Institutions and are forced to accept such deals without asking the opinion of citizens. Nevertheless the EU intends to promote civil society participation in decision making and program policies applied. This contradiction needs to be analyzed in order to determine if there is a democratic deficit in EU member states.  

The EU Migration Crisis: A Crisis Analysis Case Study

2021 ◽  
Author(s):  
Peter Slominski
Keyword(s):  
Decision Making ◽  
Sovereign Debt ◽  
Debt Crisis ◽  
Migration Policy ◽  
Future Research ◽  
The European Union ◽  
Eu Member States ◽  
Migration Crisis ◽  
And Migration ◽  
The Eu

The European Union (EU) migration crisis has been part and parcel of a conglomerate of crises that have affected the EU since the late 2000s, as have the financial and sovereign debt crisis, “Brexit,” the Russia–Ukraine conflict, as well as tensions within transatlantic relations. Scholarship on the EU has devoted much attention in assessing what the migration crisis means for EU integration at large. In particular, EU scholars are interested why the migration crisis has led to political gridlock and a renationalization of border controls rather than a deepening of integration. While they differ in their explanations, these explanations shed light on different aspects of the crisis and are far from mutually exclusive. Scholars who are more interested in the area of EU Justice and Home Affairs (JHA) largely agree with EU theorists that the field suffers from an incomplete governance design, the dominance of EU member states, and weak supranational capacities. Their analysis also focuses on intra-EU dynamics but offers a more nuanced empirical assessment of relevant EU institutions and decision-making in the course of managing the migration crisis. This growing body of research produces valuable insights and largely confirms existing scholarship, including that on the growing securitization and externalization of EU asylum and migration policy. The EU’s understanding as a norm-based power is particularly challenged by the migratory movements in the wake of the crisis. A small but growing scholarship analyses how the EU is balancing its non-entrée policy with its legal obligation, and what kind of governance arrangements result from that. While this scholarship has enriched our understanding of the EU migration crisis, it has not generated a major refinement of the standard approaches of EU theorists and JHA scholars. To further enrich the literature on the migration crisis, scholars should go beyond studying the dynamics of EU decision-making and the role of EU institutions. Such an approach should engage more systematically with international actors and institutions that have the capacity to influence EU migration policy. At the same time, global phenomena such as war, poverty, or climate change should also be taken into account in assessing the EU’s room for maneuver in handling migratory pressures. Future research on the migration crisis as well as on migration challenges should thus not only connect with other subfields of political science, such as policy analysis or international relations, but also open up to other disciplines such as law, demography, or environmental studies.

scholarly journals AN OVERVIEW OF FISCAL CONSOLIDATION PROCESS IN THE EUROPEAN UNION

2014 ◽  
Author(s):  
Iulia Andreea Bucur ◽  
Mircea Muntean
Keyword(s):  
Sovereign Debt ◽  
The European Union ◽  
Fiscal Consolidation ◽  
Consolidation Process ◽  
Fiscal Effort ◽  
Eu Countries ◽  
Eu Member States ◽  
The Impact ◽  
The Eu

This paper aims to explore, based on theoretical and empirical research in the field and on data available on Eurostat and European Commission, in the context of financial significant imbalances and thus of the financial stress in the EU countries and especially in the Euro area, the main developments in the fiscal consolidation process given the fiscal effort of each country towards fiscal union. Since the financial crisis started in 2008, many EU Member States demonstrates an obvious macroeconomic imbalance which requires increased responsibility regarding fiscal developments. The impact of the crisis and the causes of sovereign debt high levels trends varied between EU countries as well as the budget deficit levels. Thus, the main priority for EU members must be the continuation of differentiated fiscal consolidation, given the specificities of each economy, favoring growth. The medium-term fiscal policy needs to focus on consolidating public finances along with restoring long-term sustainability.

Left-wing populism in Spain

2021 ◽  
Vol 13 (2) ◽  
pp. 62-86
Author(s):  
I. L. Prokhorenko
Keyword(s):  
Sovereign Debt ◽  
Party System ◽  
Debt Crisis ◽  
Essential Element ◽  
The European Union ◽  
Left Wing ◽  
Eu Member States ◽  
Electoral Defeat ◽  
The Face ◽  
Imminent Threat

The paper examines formation, evolution and political perspectives of the Spanish radical left-wing populist party ‘We Can!’ (Podemos) in the face of growing support for populism in the the Southern European countries as well as in the European Union in general. The author identifies the origins and country-specific characteristics of the left-wing populism in Spain and provides the general overview of trends in the country’s party system since the middle of the 2000s, including the growing axiological, generational, political and ideological cleavages in the Spanish divided society. Special attention is paid to the political portrait of the Podemos leader Pablo Iglesias and the prospects for development of political situation in the country after his resignation and subsequent electoral defeat in the Autonomous Community of Madrid in May 2021. As such, this case study can provide some useful insights on the nature of populism in the EU member-states in general. In particular, the paper shows that the fragmentation of traditional political systems and the impacts of the sovereign debt crisis per se do not provide a sufficient explanation for the growing demand for populist rhetoric and charismatic leaders, but rather they have exposed certain structural economic and social imbalances. It is exactly these imbalances which traditional political parties are unable to address that create a breeding ground for various left- and right-wing parties and movements. As a result, the author concludes that populism will remain an essential element of political landscape in Spain despite all scandals that accompany populist politicians as the case of Pablo Iglesias has clearly demonstrated. At the same time the author emphasizes that it is this clear and imminent threat posed by the populist movements that may eventually serve as an impetus for a renewal of traditional parties and of the country’s political system in general.

Democratic Deficit in the European Union

2020 ◽  
Author(s):  
Christine Neuhold
Keyword(s):  
Decision Making ◽  
European Union ◽  
State Level ◽  
Representative Democracy ◽  
Democratic Deficit ◽  
The European Union ◽  
National Parliaments ◽  
Eu Member States ◽  
Modes Of Representation ◽  
The Eu

The debate on whether or not the European Union (EU) is suffering from a democratic deficit is “crowded territory.” The debate is not only far-reaching but has evolved along with the transformation of the system of European governance. In the 1990s the “standard version of the democratic deficit” was developed. This drives on the observation that EU member states have transferred powers to the supranational construction of the EU and as such these powers escape national parliamentary control. The fact that the European Parliament was a rather weak institution is seen as to further aggravate the situation. While this is, since the early 2000s, no longer seen as an adequate standard of comparison and indicator for the democratic quality of the EU, the EU democratic system is still seen to fall short on different accounts, for example when it comes both to participatory and representative democracy. This might come as a surprise, as the EU has undertaken a number of reforms especially since and by way of the Maastricht Treaty to make the EU more “democratic.” For example, the (indirect) involvement of national parliaments into EU policymaking was strengthened or the tool of the European Citizen Initiative (ECI) was introduced. As such, the debate on the democratic deficit is not only academic but takes place within the political arena. It is consequential by being mirrored in treaty changes and thus also functional. Overall these tools are seen to fall short however, at least so far. One reason seems to be expectation management. The terms used seem to be very “loaded”. For example, the notion is evoked that the Union is a representative democracy. Moreover piecemeal reform leads to different modes of representation. While some of these objectives have been achieved, for example, by providing access of certain groups to decision-making process, others are excluded, which can in fact exacerbate the democratic deficit. Overall the “traditional” debate on the democratic deficit has taken on a new quality: the context of emergence of the so-called illiberal democracies at the member state level. It has been stated already almost 20 years ago that the EU will have to invent new forms of citizenship, representation, and decision-making if it is ever to democratize itself. It seems that the EU has tried to do so partially, but the use of far-reaching and normative notions and concepts is bound to fall short in a system that is in constant flux and very heterogeneous.

Complexity, coupling and policy effectiveness: the European response to the Greek sovereign debt crisis

2012 ◽  
Vol 32 (2) ◽  
pp. 99-116 ◽  
Author(s):  
Nikolaos Zahariadis
Keyword(s):  
Decision Making ◽  
Crisis Management ◽  
Sovereign Debt ◽  
Debt Crisis ◽  
Sovereign Debt Crisis ◽  
The European Union ◽  
Policy Effectiveness ◽  
June July ◽  
Modes Of Governance ◽  
The Impact

AbstractWhat is the impact of Greece's fiscal meltdown on the effectiveness of Europe's response? Using Perrow's normal accidents theory, I argue that efforts to reduce the likelihood of a Greek default activated conflicting centripetal and centrifugal modes of governance. Greater centralisation in decision-making at the European Union level improves policy effectiveness because it addresses problems of contagion but it simultaneously raises the risk of overall failure by increasing diagnosis, coordination and compliance costs. Three episodes are explored: the first bailout in May 2010, the mid-term fiscal strategy in June–July 2011 and the second bailout in February 2012. Implications are drawn for theories of delegation, intergovernmentalism and the future of EU crisis management.

scholarly journals The Impact of the Introduction of Uniform European Collective Action Clauses on European Government Bonds as a Regulatory Result of the European Sovereign Debt Crisis

2020 ◽  
Vol 14 (1) ◽  
pp. 1
Author(s):  
Nicoletta Layher ◽  
Eyden Samunderu
Keyword(s):  
European Union ◽  
Sovereign Debt ◽  
Debt Crisis ◽  
Sovereign Debt Crisis ◽  
The European Union ◽  
Bond Yields ◽  
Member States ◽  
Sovereign Bond ◽  
European Sovereign Debt Crisis ◽  
Collective Action Clauses

This paper conducts an empirical study on the inclusion of uniform European Collective Action Clauses (CACs) in sovereign bond contracts issued from member states of the European Union, introduced as a regulatory result of the European sovereign debt crisis. The study focuses on the reaction of sovereign bond yields from European Union member states with the inclusion of the new regulation in the European Union. A two-stage least squares regression analysis is adopted in order to determine the extent of impact effects of CACs on member states sovereign bond yields. Evidence is found that CACs in the European Union are priced on financial markets and that sovereign bond yields do respond to the inclusion of uniform CACs in the European Union.

Eurobonds: Three Lessons from China’s “Debt Centralization/Decentralization” Experience

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Zhiyong An
Keyword(s):  
Moral Hazard ◽  
Euro Area ◽  
Sovereign Debt ◽  
Debt Crisis ◽  
Budget Constraint ◽  
Sovereign Debt Crisis ◽  
The European Union ◽  
Member States ◽  
Institutional Mechanism ◽  
Previous Series

Abstract Eurobonds, dubbed as Coronabonds in the context of the current coronavirus crisis, are being hotly debated among the euro area member states amid the COVID-19 pandemic. The debate is in many ways a retread of the euro area sovereign debt crisis of 2011–2012. As China’s “debt centralization/decentralization” experience is comparable with the introduction of Eurobonds in the European Union (EU) in terms of institutional mechanism design, we review our previous series of studies of China’s “debt centralization/decentralization” experience to shed some light on the Eurobonds debate. We obtain three key lessons. First, the introduction of Eurobonds in EU is likely to soften the budget constraint of the governments of the euro area member states. Second, it is also likely to strengthen the moral hazard incentives of the governments of the euro area member states to intentionally overstate their budget problems. Finally, the magnitudes of the moral hazard effects generated by the introduction of Eurobonds in EU are likely larger than their respective counterparts in China.

Has Germany “Fallen Out of Love” with Europe? The Eurozone Crisis and the “Normalization” of Germany's European Identity

2015 ◽  
Vol 33 (1) ◽  
pp. 25-41 ◽  
Author(s):  
Charlotte Galpin
Keyword(s):  
National Identity ◽  
Sovereign Debt ◽  
Debt Crisis ◽  
European Identity ◽  
Media Discourse ◽  
The European Union ◽  
Eurozone Crisis ◽  
Northern European ◽  
European Crisis ◽  
Political Speeches

The European Union has been in its biggest ever crisis since the onset of the Greek sovereign debt crisis in 2010. Beyond the political and economic dimensions, the crisis has also sparked discussions about Germany's European identity. Some scholars have argued that Germany's behavior in the crisis signals a continuation of the process of “normalization” of its European identity toward a stronger articulation of national identity and interests, that it has “fallen out of love” with Europe. This article will seek to reassess these claims, drawing on detailed analysis of political and media discourse in Germany—from political speeches through to both broadsheet and tabloid newspapers. It will argue that the crisis is understood broadly as a European crisis in Germany, where the original values of European integration are at stake. Furthermore, the crisis is debated through the lens of European solidarity, albeit with a particular German flavor of solidarity that draws on the economic tradition of ordoliberalism. Rather than strengthening expressions of national identity, this has resulted in the emergence of a new northern European identity in contrast to Greece or “southern Europe.”

Law enforcement practice in the EU in the field of labor migration

2020 ◽  
pp. 50-58
Author(s):  
Natalia G. Dekhanova ◽  
Keyword(s):  
Law Enforcement ◽  
Integrated Approach ◽  
The European Union ◽  
Access To Services ◽  
Labor Migrants ◽  
Eu Countries ◽  
Eu Member States ◽  
Social Nature ◽  
Further Development ◽  
The Eu

The article analyzes the regulatory framework. establishing the sta- tus of citizens of the countries of the European Union (EU). The author identifies problems that can become an obstacle in the process of unification of the law regulating labor of migrants in the EU countries. The study identified and analyzed the main problems faced by migrants from EU countries, in particular, migration registration, registration as an individual entrepreneur, access to services in the financial and credit sector and many other areas of activity of labor migrants. The author uses an integrated approach to considering the problems of mi- gration, economic and social nature. A proposal was made on the further development of partnerships between EU member states in the context of a pandemic and the introduction of severe restrictions.

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