THE NEW WALLS AND FENCES: CONSEQUENCES FOR ISRAEL AND PALESTINE. CEPS Middle East Working Paper No. 9, June 2003

Good fences make good neighbours’ wrote the poet Robert Frost. Israel and Palestine are certainly not good neighbours and the question that arises is will a fence between Israel and Palestine turn them into ‘good neighbours’. This paper deals with the Israeli decision to construct a fence that will divide Israel and the West Bank. Almost all public debate of the wall in Israel has been limited to the security aspects. In light of the success enjoyed so far by the wall or fence around the Gaza Strip in preventing suicide bombers from getting through, the defence for needing a similar wall around the West Bank seems like an easy task. One of the main proponents of the wall concept in Israel is Dan Scheuftan, whose book on the subject has served as a guide for policy-makers. The paper provides a critique of Scheuftan’s book. The paper addresses various aspects of the wall and focuses on the different consequences of building a barrier between the two entities. Significant attention is paid to the economic consequences of the wall. The paper also looks at other issues such as the impact the wall will have on future attempts of peace-making. The paper attempts to show that the prevention of Palestinian access to Israel – the main goal of the wall – may not really have the hoped for effect of enhancing Israel’s security

Gazprom’s evolving strategy in a new commercial and political context: how should the EU react? EPC Policy Brief, 27 April 2015

After years of unchallenged commercial domination of a sizeable portion of the EU's gas market, Gazprom is confronted with a statement of objections issued on 22 April by the EU Commission for abusing its dominant market position. The company was already prevented from going ahead with its South Stream project aimed at consolidating Gazprom's grip on Southeast Europe's markets by bypassing Ukraine – due to alleged non-compliance of intergovernmental agreements with the EU regulatory framework. Furthermore, it walked away from negotiations that could have allowed it to access more than 50% of the OPAL pipeline – an onshore branch of the offshore Russian German Nord Stream pipeline –, whilst its attempts to go downstream through the acquisition of European distribution and transmission operators, such as Wingas and DESFA, failed due to current political tensions and the risk of a negative Commission ruling on the operation. Does this mean that the Russian gas behemoth – so often portrayed as the energy arm of the Kremlin – is not so powerful after all? This Policy Brief aims to frame the erosion of Gazprom's power in a wider perspective, analysing its peculiar position at a time of transition, with the global gas business going from a sellers' to a buyers' market, and providing recommendations on how Europe should deal with it. It will be argued that Gazprom – despite still being affected by the Kremlin's political priorities – is moving towards more commercially sound behavior. The EU should profit from this evolution without being tempted by mercantilist options, and rather use the political momentum provided by the energy union to remove barriers to solidarity and to increase competition on the trading platforms.

The Asian Infrastructure Investment Bank (AIIB): China’s new multilateralism and the erosion of the West. Security Policy Brief No. 63, April 2015

China will launch a new development bank for Asia later this year, called the AIIB. 58 countries worldwide have already applied to become founding members, including numerous Western nations. This policy brief argues that the AIIB constitutes an important international development, as it reflects a new geopolitical reality and marks a new turn in China’s practice of multilateralism. It also looks critically at the European uncoordinated response to the AIIB, and what it tells about Europe’s shrinking role in the world.

Financial regulatory transparency: new data and implications for EU policy. Bruegel Policy Brief 2015/20, December 2015

International financial institutions have promoted financial regulatory transparency, or the publication by supervisors of financial industry data. Financial regulatory transparency enhances market stability and increases democratic legitimacy. • We introduce a new index of financial regulatory data transparency: the FRT Index. It measures how countries report to international financial institutions basic macroprudential data about their financial systems.The Index covers 68 high-income and emerging-market economies over 22 years (1990-2011). • We find a number of striking trends over this period. European Union members are generally more opaque than other high-income countries.This finding is especially relevant given efforts to create an EU capital markets union. • Globally, financial regulatory data transparency has increased. However, there is considerable variation. Some countries have become significantlymore transparent, while others have become much more opaque. Reporting tends to decline during financial crises. • We propose that the EU institutions take on a greater role in coordinating and possibly enforcing reporting of bank and non-bank institution data. Similar to the United States, a reporting requirement should be part of any EU general deposit insurance scheme.