The European Union in the Arctic: A Pole Position? Bruges Regional Integration & Global Governance Papers 4/2012, December 2012

With temperatures in the Arctic rising at twice the pace of anywhere else in the world, the European Union (EU) decided in 2008 to begin formulating an overall Arctic policy tackling maritime, environmental, energy and transport challenges. This attempt to draft a comprehensive policy on a topic that the EU had rarely touched upon unavoidably ran up against other existing strategies from Arctic and non-Arctic states. Against this background, this paper examines whether the EU’s current Arctic policy is conducive to framing a strategy that is both correctly targeted and flexible enough to represent Europe’s interests. It shows that the EU’s approach can serve as an effective foreign policy tool to establish the Union’s legitimacy as an Arctic player. However, the EU’s Arctic policy is still underestimating its potential to find common grounds with the strategic partners Russia and China. A properly targeted Arctic policy could help influence Russia over the EU’s interests in the Northern Sea Route and strengthen cooperation with China in an endeavour to gain recognition as relevant Arctic players.

The European Union as a System of Differentiated Integration: Interdependence, Politicization and Differentiation. IHS Political Science Series No. 137, 10 July 2014

This paper conceptualizes the European Union (EU) as a system of differentiated integration characterized by both variation in levels of centralization (vertical differentiation) and variation in territorial extension (horizontal differentiation) across policy areas. Differentiation has been a concomitant of deepening and widening and has increased and consolidated as the EU’s powers, policy scope, and membership have grown. Turning to explanation, the paper attributes the pattern of differentiated integration in the EU to the interaction of interdependence and politicization. Differentiation among the member states (internal differentiation) results from supranational integration under conditions of high interdependence and politicization. By contrast, external differentiation (the selective policy integration of non-member states) occurs in highly interdependent but weakly politicized policy areas. These constellations are illustrated in case studies of differentiation in the internal market, monetary union, and defence.

Bank versus non-bank credit in the United States, Europe and China. Bruegel Policy Contribution, 2012/07, 5 June 2013

In the wake of recent crisis developments in the US and Europe, non-bank credit channels have often been portrayed as 'shadow banking' and have been considered primarily through the lens of the risks they may pose to financial stability. However, the debate about financial system structures remains immature, in large part due to lack of reliable and comparable data. The available evidence actually points towards a correlation between the development of non-bank credit and higher resilience against systemic risk, at least in developed economies. Policy should aim at better statistical information, and at strengthening the infrastructure for the gradual development of sustainable nonbank credit provision.