Obama 2: future implications for EU-US relations. Jean Monnet/Robert Schuman Paper Series Vol. 12, No. 8, November 2012

Introduction. The week following his reelection, President Obama traveled to Asia – Thailand, Myanmar, and Cambodia –, while facing at home a fiscal cliff, the need to select the next Secretaries of State, Defense, and Treasury, and the resignation of one of America’s most senior and respected generals and Director of the CIA, David Petraeus; all this at the moment wherein the Middle East is burning in flames due to another round of violence between Israel and Hamas. On the other side of the pond, the EU is currently trying to solve or at least contain several crises: the Eurozone, agreeing on the Multiannual Financial Framework 2014-2020, or MFF 2014-2020,2 and saving France.3 For both giants, the American and European priorities are domestic; they both need to do some ‘nation-building at home.’4 The threat of the fiscal cliff in the US and the one of the Eurocrisis in Europe are too important to be ignored and so visceral that they will affect the way both actors behave internationally and interact with one another. The big question since Obama’s reelection has been what will the EU-US relations look like under his second mandate? And will there be any differences from the first one?5 This paper argues that the US-EU relations will remain quite similar as it was under the first Obama presidency. Nevertheless, with the current shift to Asia, the ‘pivot,’ the EU will be required to increase its contributions to global politics and international security. This paper is structured in three parts. First, the economic and political climax of the EU and the US will be presented. In a second a part, the EU and US strategies and foreign policies will be laid out. Last but not least, several core issues facing the Euro-Atlantic community, such as the Asia pivot, Iran, climate change, and the economy will be addressed. Other issues such as Syria, Afghanistan, and the Middle East and North Africa will not be addressed in this paper.6

State Transformation and the European Integration Project. Lessons from the financial crisis and the Greek paradigm. CEPS Special Report No. 130/February 2016

The financial crisis that erupted in the eurozone not only affected the EU’s financial governance mechanisms, but also the very nature of state sovereignty and balances in the relations of member states; thus, the actual inequalities between the member states hidden behind their institutional equality have deteriorated. This transformation is recorded in the case law of the Court of Justice of the European Union and the member states’ constitutional courts, particularly in those at the heart of the crisis, with Greece as the most prominent example. It is the issue of public debt (sovereign debt) of the EU member states that particularly reflects the influence of the crisis on state sovereignty as well as the intensely transnational (intergovernmental) character of European integration, which under these circumstances takes the form of a continuous, tough negotiation. The historical connection between public debt (sovereign debt) and state sovereignty has re-emerged because of the financial crisis. This development has affected not only the European institutions, but also, at the member state level, the actual institutional content of the rule of law (especially judicial review) and the welfare state in its essence, as the great social and political acquis of 20th century Europe. From this perspective, the way that the Greek courts have dealt with the gradual waves of fiscal austerity measures and structural reforms from 2010 to 2015 is characteristic. The effect of the financial crisis on the sovereignty of the member states and on the pace of European integration also has an impact on European foreign and security policy, and the correlations between the political forces at both the national and European level, thus producing even more intense pressures on European social democracy. In light of the experience of the financial crisis, the final question is whether the nation state (given the large real inequalities among the EU member states) currently functions as a brake or as an engine for future European integration.