Archive for the ‘EU Expansion’ Category

16
Dec

By this time next year, the eurozone could be defunct. Despite the small chances of it actually happening, the fact that the collapse of the currency union is even possible speaks volumes about the size of the problems Europe faces. Since financial, economic and political crises descended on the Continent almost a decade ago, Europe has endured many difficult moments. But 2017 will be the most important year yet for the continuity of the eurozone as political and economic risk reaches the bloc’s very core in Germany, France and Italy.

Threats to the European Union and the eurozone become more acute as they spread to the bloc’s key members. While Europe’s supranational structures could probably survive Greece’s departure from the eurozone or Britain’s exit from the European Union, for example, they probably couldn’t overcome the withdrawal of Germany, France or Italy. These countries not only have the largest economies in Europe, but they are also the main forces driving the process of European integration.

Next year, a series of events will put the European Union’s foundational structures to the test. The bloc’s most serious challenges will come from France and Italy, which are dogged by low economic growth rates and relatively high unemployment. Anti-globalization sentiments are strong among large swaths of their populations, who want to protect their economies from the perceived threats of immigration and free trade. Meanwhile, many French and Italian voters are skeptical of the European Union and the mainstream political parties that back it. Both countries are fertile ground for political forces that vow to fight globalization and reverse the process of European integration. Read more…

By Adriano Bosoni
December 15, 2016; http://www.realclearworld.com/

4
Nov

‘Brexit is the greatest threat to national wellbeing since the war, and this will test the mettle not just of individual MPs, but of the nature and purpose of a representative democratic system.’

A momentous constitutional decision was taken by the high court of England and Wales this morning. A prime minister’s absolute power to do what they like, when they like, regardless of laws and treaties, was struck down. Theresa May cannot tear up our right to be EU citizens without the authority of parliament. Those rights were bestowed by parliamentary votes in a series of treaties. She can’t high-handedly abandon them and trigger our exit from the EU without parliament’s agreement.

Judges, wisely, do not generally want to usurp the power of elected governments to govern. Laws made by judges are a poor substitute for those made by elected MPs in parliament. But this is a matter of the profoundest constitutional importance, with deep implications, controversial whichever way they had decided. They rightly pronounced that parliament is sovereign – which is what the Brexiters claimed we were voting on, until it no longer suited them. Read more…

https://www.theguardian.com; Polly Toynbee; 3 Nov. 2016

24
Jun

A tragic split

Written on June 24, 2016 by Waya Quiviger in Democracy & Human Rights, EU Expansion, Europe, Foreign Policy

HOW quickly the unthinkable became the irreversible. A year ago few people imagined that the legions of Britons who love to whinge about the European Union—silly regulations, bloated budgets and pompous bureaucrats—would actually vote to leave the club of countries that buy nearly half of Britain’s exports. Yet, by the early hours of June 24th, it was clear that voters had ignored the warnings of economists, allies and their own government and, after more than four decades in the EU, were about to step boldly into the unknown.

The tumbling of the pound to 30-year lows offered a taste of what is to come. As confidence plunges, Britain may well dip into recession. A permanently less vibrant economy means fewer jobs, lower tax receipts and, eventually, extra austerity. The result will also shake a fragile world economy. Scots, most of whom voted to Remain, may now be keener to break free of the United Kingdom, as they nearly did in 2014. Across the Channel, Eurosceptics such as the French National Front will see Britain’s flounce-out as encouragement. The EU, an institution that has helped keep the peace in Europe for half a century, has suffered a grievous blow.

Published in the Economist on June 24th, 2016
12
Apr

Brexit and the Balance of Power

Written on April 12, 2016 by Waya Quiviger in EU Expansion, Europe, Foreign Policy

Britain joined what became the European Union in 1973. This year, on June 23, it will hold a referendum on whether to leave. Should it?

Current polls show a closely divided electorate. Prime Minister David Cameron claims that the concessions he has won from Britain’s EU partners should lay to rest popular concerns about a loss of sovereignty to Brussels and an influx of foreign workers from Eastern Europe. But Cameron’s Conservative Party and his own cabinet are deeply divided, while London’s populist mayor, Boris Johnson, has joined the supporters of British exit.

The question of the costs and benefits of British membership in the EU divides the British press as well. Many mass-circulation publications support “Brexit,” whereas the financial press supports continued membership. The Economist, for example, points out that some 45% of British exports go to other EU countries, and that the atmosphere for negotiating a post-Brexit trade deal would likely be frosty.

Moreover, the EU has made clear to non-members such as Norway and Switzerland that they can have full access to the single market only if they accept most of its rules, including the free movement of people, and contribute to the EU budget. In other words, a Britain outside the Union would gain little in terms of “sovereignty”; on the contrary, it would lose its vote and influence over the terms of its participation in the single market. Meanwhile, rival financial centers such as Paris and Frankfurt would seize the chance to establish rules that would help them win back business from London. Read more…

Published on APR 11, 2016; https://www.project-syndicate.org

Joseph S. Nye, Jr., a former US assistant secretary of defense and chairman of the US National Intelligence Council, is University Professor at Harvard University. He is the author of Is the American Century Over?

26
Feb

The real danger of Brexit

Written on February 26, 2016 by Waya Quiviger in EU Expansion, Europe, Foreign Policy

THE battle is joined, at last. David Cameron has called a referendum on Britain’s membership of the European Union for June 23rd, promising to campaign hard to stay in. What began as a gambit to hold together his divided Tory party is turning into an alarmingly close contest. Betting markets put the odds that Britons opt to leave at two-to-one; some polls suggest the voters are evenly split; several cabinet ministers are campaigning for Brexit. There is a real chance that in four months’ time Britain could be casting off from Europe’s shores.

That would be grave news—and not just for Britain. A vote to leave would damage the economy, certainly in the short term and probably in the long run. (As financial markets woke up to the prospect, the pound this week fell to its lowest level against the dollar since 2009.) It would imperil Britain’s security, when threats from terrorists and foreign powers are at their most severe in years. And far from reclaiming sovereignty, Britons would be forgoing clout, by giving up membership of a powerful club whose actions they can influence better from within than without. Those outside Britain marvelling at this proposed act of self-harm should worry for themselves, too. Brexit would deal a heavy blow to Europe, a continent already on the ropes. It would uncouple the world’s fifth-largest economy from its biggest market, and unmoor the fifth-largest defence spender from its allies. Poorer, less secure and disunited, the new EU would be weaker; the West, reliant on the balancing forces of America and Europe, would be enfeebled, too.

Read more…

Feb 27th 2016, from the print version of The Economist

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