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European Union

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Slides about the European Union, prepared for a graduate course in Comparative Political Economy that I taught in 2004.

Slides about the European Union, prepared for a graduate course in Comparative Political Economy that I taught in 2004.

Published in: Education, Travel, News & Politics

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  • 1. THE EUROPEAN UNION
  • 2. Austria • Belgium • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Ireland • Hungary • Italy EUROPEAN UNION At-a-Glance The European Union (EU) represents a further stage of political and economic integration in the history of Europe. It is, by far, the most ambitious attempt at regional integration attempted in modern history. Politically, the EU is a cross between an international governmental organization (IGO) and a regional government. Its institutions are a hybrid those geared towards consensus- building and those oriented towards policy administration. Economically, the EU is an example of an economic union. Latvia • Lithuania • Luxembourg • Malta • Netherlands • Poland • Portugal • Slovakia • Slovenia • Spain • Sweden • United Kingdom
  • 3. Austria • Belgium • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Ireland • Hungary • Italy EUROPEAN UNION Types of Economic Integration Free Trade Customs Common Economic Area Union Market Union √ √ √ √ Free Trade among members Free Factor Mobility X X √ √ √ Common Economic Policies X X X Latvia • Lithuania • Luxembourg • Malta • Netherlands • Poland • Portugal • Slovakia • Slovenia • Spain • Sweden • United Kingdom
  • 4. Austria • Belgium • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Ireland • Hungary • Italy EUROPEAN UNION Rationale Behind European Union Political Stability Desire to overcome the historical French-German rivalry by tying the interests of both to that of the broader European community. Attempt to check potential German nationalism by integrating unified Germany with the rest of Europe. Economic Stability To stabilize the continent’s monetary affairs, making the continent attractive for investment. International Importance To reassert European influence on the international stage. Latvia • Lithuania • Luxembourg • Malta • Netherlands • Poland • Portugal • Slovakia • Slovenia • Spain • Sweden • United Kingdom
  • 5. Austria • Belgium • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Ireland • Hungary • Italy EUROPEAN UNION Views on Regional Integration Federalist Emphasis on maintaining the sovereignty of independent member-states. Regional integration should result in a Federal structure that recognizes the equality of each member state. Functionalist Emphasis on the relative power of member-states. Regional arrangements must account for the relative importance of member-states to the region (and thus would include mostly very similar states). Latvia • Lithuania • Luxembourg • Malta • Netherlands • Poland • Portugal • Slovakia • Slovenia • Spain • Sweden • United Kingdom
  • 6. Austria • Belgium • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Ireland • Hungary • Italy EUROPEAN UNION Goals of European Union Unified Economic and Monetary Policy Coordinated economic policies and subsequent adoption of a common currency. Common economic policy as a means of ensuring continental stability and thereafter further political unity. Unified Foreign and Security Policy Decreased dependence on American military support. Unified Social Policy Common policies on migration, welfare, and those towards organized labor. Latvia • Lithuania • Luxembourg • Malta • Netherlands • Poland • Portugal • Slovakia • Slovenia • Spain • Sweden • United Kingdom
  • 7. Austria • Belgium • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Ireland • Hungary • Italy EUROPEAN UNION A History of the European Union Latvia • Lithuania • Luxembourg • Malta • Netherlands • Poland • Portugal • Slovakia • Slovenia • Spain • Sweden • United Kingdom
  • 8. Austria • Belgium • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Ireland • Hungary • Italy EUROPEAN UNION A History of the European Union Original EEC Members: Latvia • Lithuania • Luxembourg • Malta • Netherlands • Poland • Portugal • Slovakia • Slovenia • Spain • Sweden • United Kingdom
  • 9. Austria • Belgium • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Ireland • Hungary • Italy EUROPEAN UNION A History of the European Union EC Members: Latvia • Lithuania • Luxembourg • Malta • Netherlands • Poland • Portugal • Slovakia • Slovenia • Spain • Sweden • United Kingdom
  • 10. Austria • Belgium • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Ireland • Hungary • Italy EUROPEAN UNION A History of the European Union EC Members: Latvia • Lithuania • Luxembourg • Malta • Netherlands • Poland • Portugal • Slovakia • Slovenia • Spain • Sweden • United Kingdom
  • 11. Austria • Belgium • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Ireland • Hungary • Italy EUROPEAN UNION A History of the European Union Original EU Members: Latvia • Lithuania • Luxembourg • Malta • Netherlands • Poland • Portugal • Slovakia • Slovenia • Spain • Sweden • United Kingdom
  • 12. Austria • Belgium • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Ireland • Hungary • Italy EUROPEAN UNION A History of the European Union EU Members: Latvia • Lithuania • Luxembourg • Malta • Netherlands • Poland • Portugal • Slovakia • Slovenia • Spain • Sweden • United Kingdom
  • 13. Austria • Belgium • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Ireland • Hungary • Italy EUROPEAN UNION A History of the European Union Current EU Members: Latvia • Lithuania • Luxembourg • Malta • Netherlands • Poland • Portugal • Slovakia • Slovenia • Spain • Sweden • United Kingdom
  • 14. Austria • Belgium • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Ireland • Hungary • Italy EUROPEAN UNION A History of the European Union Current EU Members: Candidates for Membership: Latvia • Lithuania • Luxembourg • Malta • Netherlands • Poland • Portugal • Slovakia • Slovenia • Spain • Sweden • United Kingdom
  • 15. Austria • Belgium • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Ireland • Hungary • Italy EUROPEAN UNION The Structure of the EU Judicial EUROPEAN COUNCIL Heads of State and Governments of Member States EUROPEAN COURT OF JUSTICE PRESIDENCY PRESIDENT OF THE EU PRESIDENT Economic EUROPEAN COURT OF AUDITORS EUROPEAN COUNCIL EUROPEAN EU CITIZENS EUROPEAN COMMISSION OF THE EU PARLIAMENT CENTRAL BANK EBRD Members Proposed Individual Directly Elected by Member States Country Ministers by PR system Advisory MEMBER STATE GOVERNMENTS COMMITTEE OF THE REGIONS ECONOMIC AND EU CITIZENS SOCIAL COMMITTEE Latvia • Lithuania • Luxembourg • Malta • Netherlands • Poland • Portugal • Slovakia • Slovenia • Spain • Sweden • United Kingdom
  • 16. Austria • Belgium • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Ireland • Hungary • Italy EUROPEAN UNION The Copenhagen Criteria Conditions established in 1993 that applicant countries must fulfill in order to join the EU: Political: Stable institutions that guarantee democracy, the rule of law, human rights and the protection of minorities. Economic: A functioning market economy and the capacity to handle competition arising within the EU’s internal market. Administrative: Institutions and infrastructure that can implement the EU’s laws. Latvia • Lithuania • Luxembourg • Malta • Netherlands • Poland • Portugal • Slovakia • Slovenia • Spain • Sweden • United Kingdom
  • 17. Austria • Belgium • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Ireland • Hungary • Italy EUROPEAN UNION Convergence Criteria Five criteria that countries have to meet in order to join the final stages of economic and monetary union: Deficit: Government deficit must be below 3% of GDP. Debt: Government debt must fall below 60% of GDP. Inflation: Inflation rate must be within 1.5% of the three lowest inflation rates in the EU. Interest Rates: Long-term rates must be within 2% of the three lowest rates in the EU. Exchange Rates: Rates must be within normal fluctuating margins within the ERM. Latvia • Lithuania • Luxembourg • Malta • Netherlands • Poland • Portugal • Slovakia • Slovenia • Spain • Sweden • United Kingdom
  • 18. Austria • Belgium • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Ireland • Hungary • Italy EUROPEAN UNION Benefits of Monetary Union Increased market efficiency given the elimination of price uncertainties. Decreased transaction costs (no more currency valuations). Elimination of competitive currency devaluations across the region. Increased transparency in economic policy and transactions. Acceleration of political integration and the preparation for fiscal federalism. Latvia • Lithuania • Luxembourg • Malta • Netherlands • Poland • Portugal • Slovakia • Slovenia • Spain • Sweden • United Kingdom
  • 19. Austria • Belgium • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Ireland • Hungary • Italy EUROPEAN UNION Criticism of European Union Optimum Currency Area When the setting of nominal exchange rates between currencies does not impose real costs on their economies. If labor and capital are perfectly mobile. If prices and wages are flexible. The EU is not an optimum currency area. Labor and capital are realistically tied to specific places. Prices and wages are not flexible: a recession hitting one country is likely to affect the rest of the region badly. Latvia • Lithuania • Luxembourg • Malta • Netherlands • Poland • Portugal • Slovakia • Slovenia • Spain • Sweden • United Kingdom
  • 20. Austria • Belgium • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Ireland • Hungary • Italy EUROPEAN UNION Hindsight: Lessons Learned The evolution of the EU has entailed managing different facets of political-economic integration. Its workings are at once international, multinational, and supranational. It is both an international arena and an international actor. The experience of European integration demonstrates that political union (or at the very least political will) furthers economic union. The opposite, however, does not appear to hold. Latvia • Lithuania • Luxembourg • Malta • Netherlands • Poland • Portugal • Slovakia • Slovenia • Spain • Sweden • United Kingdom
  • 21. Austria • Belgium • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Ireland • Hungary • Italy EUROPEAN UNION Going Forward The political debate: Can attempts at regional governance work elsewhere? “Is Europe’s present Asia’s future?” The economic debate: Is there a place for regional arrangements such as this in the broader global economy? How to reconcile regionalism and globalization? The administrative question: If successful, how to resolve regional interests and the dilemma of the “democratic deficit”? Who exactly are “Eurocrats” accountable to? Latvia • Lithuania • Luxembourg • Malta • Netherlands • Poland • Portugal • Slovakia • Slovenia • Spain • Sweden • United Kingdom
  • 22. !e End