Rules-based economic governance in the European Union: A reappraisal of national fiscal rules.

The economic and financial crisis of 2007/2009 has posed unexpected challenges on both the global and the regional level. Besides the US, the EU has been the most severely hit by the current economic crisis. The financial and banking crisis on the one hand and the sovereign debt crisis on the other hand have clearly shown that without a bold, constructive and systematic change of the economic governance structure of the Union, not just the sustainability of the monetary zone but also the viability of the whole European integration process can be seriously undermined. The current crisis is, however, only a symptom, which made all those contradictions overt that were already heavily embedded in the system. Right from the very beginning, the deficit and the debt rules of the Maastricht Treaty and the Stability and Growth Pact have proved to be controversial cornerstones in the fiscal governance framework of the European Economic and Monetary Union (EMU). Yet, member states of the EU (both within and outside of the EMU) have shown an immense interest in adopting numerical constraints on the domestic level without hesitation. The main argument for the introduction of national fiscal rules was mostly to strengthen the accountability and credibility of national fiscal policy-making. The paper, however, claims that a relatively large portion of national rules were adopted only after the start of deceleration of the debt-to-GDP ratios. Accordingly, national rules were hardly the sole triggering factors of maintaining fiscal discipline; rather, they served as the key elements of a comprehensive reform package of public budgeting. It can be safely argued, therefore, that countries decide to adopt fiscal rules because they want to explicitly signal their strong commitment to fiscal discipline. In other words, it is not fiscal rules per se what matter in delivering fiscal stability but a strong political commitment.

Aszimmetriák az Európai Unión belül (Assimetries within the European Union)

A centrum-periféria kapcsolatok elemzése az Európai Unióra is kiterjeszthető. Az integrációs folyamatban jól elemezhetőek a bourdeiu-i tőkeformák, ezek egymásra történő átváltása, a gazdasági és politikai aszimmetriák kölcsönhatása. E kölcsönös kapcsolatokban továbbra is a gazdasági viszonyok meghatározottsága érvényesül. A világgazdasági válság felszínre hozta a történelmi aszimmetriákat, amelyeket a korábbi neoliberális politikák tovább mélyítettek. Az Unión belüli periferális térségekre a válság különbözőképpen hatott. E hatások semlegesítésére többnyire a megszorító gazdaságpolitikákat alkalmazzák. Továbbra is hiányzik azonban egy, a minőségi s nem mennyiségi szempontokat hangsúlyozó fejlesztési politika. Egy ilyen megközelítés a strukturális, intézményi vonatkozásokat erősítené, s ezzel járulna hozzá a periféria termelési, forgalmi, elosztási képességeinek fokozásához. _____ Analysis of centre-periphery relations can be extended to the European Union as well. The capital forms by Bourdieu, their inter-changeability, mutual effects of economic and political asymmetries could be analysed well in the integration process. In these mutual relations economic relations still play the dominant role. The global economic crisis has brought to the surface historical asymmetries, further aggravated by earlier neo-liberal economic policies. Peripheral regions within the Union have been affected in different ways. In order to neutralise these effects austerity measure have been implemented. However, a development policy, emphasising quality and not only quantitative aspects, is still missing. Such an approach would strengthen structural and institutional elements, further enhancing production, trade, and distribution capabilities of the periphery.

Changes in tax structures in European Union Member States

The European Union does not have a comprehensive common tax policy and substantial changes in this specialized policy area are not likely in the foreseeable future. Albeit common rules, requirements, minimum rates for certain tax types were implemented in the last few decades, they barely limit the Member States in using their tax policies as one of the worthiest elements of their arsenal in increasing competitiveness or quite the contrary, to undermining their own international competitiveness inadvertently through a misguided tax policy. In this article, we put the tax policies of the Visegrad Group and the Eurozone core countries (Germany, Austria and the Netherlands), as well as changes in these policies under the magnifying glass, in terms of the impact of tax structure changes on economic growth and employment in the last decade.

Trade, Politics, and Democratization: The 1997 Global Agreement between the European Union and Mexico

Mexico and the European Union signed a new Political and Economic Association Agreement in December 1997 and ultimately a free-trade agreement in March 2000, aiming to establish a new model of relations with a more dynamic trade and investment component. This article analyzes the 1997 agreement as background to the final accord. Economic and political changes in the 1990s modified both parties' participation in the international political economy, helping to overcome some of the structural obstacles to the relationship. The policy toward Latin America adopted by the EU in 1994 was influential. The negotiation process revealed divergences over the scope of the liberalization process and the so-called democracy clause.

China, perspective from the European Union: commitment and cooperation

The bilateral relationship between the EU and China has a tendency toward growth in recent years. At present, China’s economic development is at a critical transition period for deepening reform in the economic structure. The economic and trade cooperation with the countries of the European Union has a significant influence for the stability of trade development and economic growth. Therefore China tries to expand cooperation and eliminate the issues and difficulties that exist, it will more often to promote cooperation between the two parties towards deeper into various cooperative areas.

Can the European Union build a bridge over troubled waters? An analysis of the politicised and depoliticised legal approach between the European Union and Cyprus

The Cyprus dispute accurately portrays the evolution of the conflict from ‘warfare to lawfare’ enriched in politics; this research has proven that the Cyprus problem has been and will continue to be one of the most judicialised disputes across the globe. Notwithstanding the ‘normalisation’ of affairs between the two ethno-religious groups on the island since the division in 1974, the Republic of Cyprus’ (RoC) European Union (EU) membership in 2004 failed to catalyse reunification and terminate the legal, political and economic isolation of the Turkish Cypriot community. So the question is; why is it that the powerful legal order of the EU continuously fails to tame the tiny troublesome island of Cyprus? This is a thesis on the interrelationship of the EU legal order and the Cyprus problem. A literal and depoliticised interpretation of EU law has been maintained throughout the EU’s dealings with Cyprus, hence, pre-accession and post-accession. The research has brought to light that this literal interpretation of EU law vis-à-vis Cyprus has in actual fact deepened the division on the island. Pessimists outnumber optimists so far as resolving this problem is concerned, and rightly so if you look back over the last forty years of failed attempts to do just that, a diplomatic combat zone scattered with the bones of numerous mediators. This thesis will discuss how the decisions of the EU institutions, its Member States and specifically of the European Court of Justice, despite conforming to the EU legal order, have managed to disregard the principle of equality on the divided island and thus prevent the promised upgrade of the status of the Turkish Cypriot community since 2004. Indeed, whether a positive or negative reading of the Union’s position towards the Cyprus problem is adopted, the case remains valid for an organisation based on the rule of law to maintain legitimacy, democracy, clarity and equality to the decisions of its institutions. Overall, the aim of this research is to establish a link between the lack of success of the Union to build a bridge over troubled waters and the right of self-determination of the Turkish Cypriot community. The only way left for the EU to help resolve the Cyprus problem is to aim to broker a deal between the two Cypriot communities which will permit the recognition of the Turkish Republic of Northern Cyprus (TRNC) or at least the ‘Taiwanisation’ of Northern Cyprus. Albeit, there are many studies that address the impact of the EU on the conflict or the RoC, which represents the government that has monopolised EU accession, the argument advanced in this thesis is that despite the alleged Europeanisation of the Turkish Cypriot community, they are habitually disregarded because of the EU’s current legal framework and the Union’s lack of conflict transformation strategy vis-à-vis the island. Since the self-declared TRNC is not recognised and EU law is suspended in northern Cyprus in accordance with Protocol No 10 on Cyprus of the Act of Accession 2003, the Turkish-Cypriots represent an idiomatic partner of Brussels but the relations between the two resemble the experience of EU enlargement: the EU’s relevance to the community has been based on the prospects for EU accession (via reunification) and assistance towards preparation for potential EU integration through financial and technical aid. Undeniably, the pre-accession and postaccession strategy of Brussels in Cyprus has worsened the Cyprus problem and hindered the peace process. The time has come for the international community to formally acknowledge the existence of the TRNC.

Capital 2.0 capital formation and legal risk in a new global economic order from fiat to exit: including case studies of the proposed transatlantic trade and investment partnership between the United States and the European Union and the financing relation between the United States and the People’s Republic of China

Following the intrinsically linked balance sheets in his Capital Formation Life Cycle, Lukas M. Stahl explains with his Triple A Model of Accounting, Allocation and Accountability the stages of the Capital Formation process from FIAT to EXIT. Based on the theoretical foundations of legal risk laid by the International Bar Association with the help of Roger McCormick and legal scholars such as Joanna Benjamin, Matthew Whalley and Tobias Mahler, and founded on the basis of Wesley Hohfeld’s category theory of jural relations, Stahl develops his mutually exclusive Four Determinants of Legal Risk of Law, Lack of Right, Liability and Limitation. Those Four Determinants of Legal Risk allow us to apply, assess, and precisely describe the respective legal risk at all stages of the Capital Formation Life Cycle as demonstrated in case studies of nine industry verticals of the proposed and currently negotiated Transatlantic Trade and Investment Partnership between the United States of America and the European Union, TTIP, as well as in the case of the often cited financing relation between the United States and the People’s Republic of China. Having established the Four Determinants of Legal Risk and its application to the Capital Formation Life Cycle, Stahl then explores the theoretical foundations of capital formation, their historical basis in classical and neo-classical economics and its forefathers such as The Austrians around Eugen von Boehm-Bawerk, Ludwig von Mises and Friedrich von Hayek and most notably and controversial, Karl Marx, and their impact on today’s exponential expansion of capital formation. Starting off with the first pillar of his Triple A Model, Accounting, Stahl then moves on to explain the Three Factors of Capital Formation, Man, Machines and Money and shows how “value-added” is created with respect to the non-monetary capital factors of human resources and industrial production. Followed by a detailed analysis discussing the roles of the Three Actors of Monetary Capital Formation, Central Banks, Commercial Banks and Citizens Stahl readily dismisses a number of myths regarding the creation of money providing in-depth insight into the workings of monetary policy makers, their institutions and ultimate beneficiaries, the corporate and consumer citizens. In his second pillar, Allocation, Stahl continues his analysis of the balance sheets of the Capital Formation Life Cycle by discussing the role of The Five Key Accounts of Monetary Capital Formation, the Sovereign, Financial, Corporate, Private and International account of Monetary Capital Formation and the associated legal risks in the allocation of capital pursuant to his Four Determinants of Legal Risk. In his third pillar, Accountability, Stahl discusses the ever recurring Crisis-Reaction-Acceleration-Sequence-History, in short: CRASH, since the beginning of the millennium starting with the dot-com crash at the turn of the millennium, followed seven years later by the financial crisis of 2008 and the dislocations in the global economy we are facing another seven years later today in 2015 with several sordid debt restructurings under way and hundred thousands of refugees on the way caused by war and increasing inequality. Together with the regulatory reactions they have caused in the form of so-called landmark legislation such as the Sarbanes-Oxley Act of 2002, the Dodd-Frank Act of 2010, the JOBS Act of 2012 or the introduction of the Basel Accords, Basel II in 2004 and III in 2010, the European Financial Stability Facility of 2010, the European Stability Mechanism of 2012 and the European Banking Union of 2013, Stahl analyses the acceleration in size and scope of crises that appears to find often seemingly helpless bureaucratic responses, the inherent legal risks and the complete lack of accountability on part of those responsible. Stahl argues that the order of the day requires to address the root cause of the problems in the form of two fundamental design defects of our Global Economic Order, namely our monetary and judicial order. Inspired by a 1933 plan of nine University of Chicago economists abolishing the fractional reserve system, he proposes the introduction of Sovereign Money as a prerequisite to void misallocations by way of judicial order in the course of domestic and transnational insolvency proceedings including the restructuring of sovereign debt throughout the entire monetary system back to its origin without causing domino effects of banking collapses and failed financial institutions. In recognizing Austrian-American economist Schumpeter’s Concept of Creative Destruction, as a process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one, Stahl responds to Schumpeter’s economic chemotherapy with his Concept of Equitable Default mimicking an immunotherapy that strengthens the corpus economicus own immune system by providing for the judicial authority to terminate precisely those misallocations that have proven malignant causing default perusing the century old common law concept of equity that allows for the equitable reformation, rescission or restitution of contract by way of judicial order. Following a review of the proposed mechanisms of transnational dispute resolution and current court systems with transnational jurisdiction, Stahl advocates as a first step in order to complete the Capital Formation Life Cycle from FIAT, the creation of money by way of credit, to EXIT, the termination of money by way of judicial order, the institution of a Transatlantic Trade and Investment Court constituted by a panel of judges from the U.S. Court of International Trade and the European Court of Justice by following the model of the EFTA Court of the European Free Trade Association. Since the first time his proposal has been made public in June of 2014 after being discussed in academic circles since 2011, his or similar proposals have found numerous public supporters. Most notably, the former Vice President of the European Parliament, David Martin, has tabled an amendment in June 2015 in the course of the negotiations on TTIP calling for an independent judicial body and the Member of the European Commission, Cecilia Malmström, has presented her proposal of an International Investment Court on September 16, 2015. Stahl concludes, that for the first time in the history of our generation it appears that there is a real opportunity for reform of our Global Economic Order by curing the two fundamental design defects of our monetary order and judicial order with the abolition of the fractional reserve system and the introduction of Sovereign Money and the institution of a democratically elected Transatlantic Trade and Investment Court that commensurate with its jurisdiction extending to cases concerning the Transatlantic Trade and Investment Partnership may complete the Capital Formation Life Cycle resolving cases of default with the transnational judicial authority for terminal resolution of misallocations in a New Global Economic Order without the ensuing dangers of systemic collapse from FIAT to EXIT.

European Union Approaches to Human Rights Violations in Kosovo before and after Independence

This article examines European Union (EU) approaches to the question of human rights violations in Kosovo before and after its proclamation of independence, in February 2008. While the 1999 NATO-led humanitarian intervention in the region was often justified as necessary due to the continuous abuses of human rights, perpetrated by the Serbian forces against the ethic Kosovo Albanians, the post-interventionist period has witnessed a dramatic reversal of roles, with the rights of the remaining Serbian minority being regularly abused by the dominant Albanian population. However, in contrast to the former scenario, the Brussels administration has remained quite salient about the post-independence context – a grey zone of unviable political and social components, capable of generating new confrontations and human rights abuses within the borders of Kosovo. Aware of this dynamic and the existing EU official rhetoric, it is possible to conclude that the embedded human rights concerns in Kosovo are not likely to disappear, but even more importantly, their relevance has been significantly eroded.

New worlds and new churches: The Orthodox Church(es) and the European Union

The Orthodox church(es) share a common commitment to the unity of dogma and spirituality. There is, however, no doctrinal formulation that comes close to a form of political theology at a pan-Orthodox level. This means that the Orthodox churches’ attitude towards the European Union (EU) is driven by their ecclesial diversity and by complex inter-ecclesial relations. More fundamentally they share a fragmented and plural, theological objection to the very ideas of Europe and the West. This has been further complicated by the emergence of a substantial Orthodox diaspora from Eastern Europe, Russia, and the Middle East living across the breadth of the European continent. Consequently the ecclesial identity and self-perception of the autocephalous Orthodox churches is changing. These churches are becoming increasingly transnational and extra-territorial. With this, their perception of Europe and the West, as seen through the eyes of their diaspora communities, is altering from “threat” to “home” (Makrides and Uffelmann, 2003). The growing diaspora will not only impact the Christian demographics of Europe but will also transform the Eastern Churches’ view of Europe and the EU (Leustean, 2009; 2011; 2013; 2014a; 2014b).

Modular framework to assess the risk of African swine fever virus entry into the European Union

BACKGROUND The recent occurrence and spread of African swine fever (ASF) in Eastern Europe is perceived as a serious risk for the pig industry in the European Union (EU). In order to estimate the potential risk of ASF virus (ASFV) entering the EU, several pathways of introduction were previously assessed separately. The present work aimed to integrate five of these assessments (legal imports of pigs, legal imports of products, illegal imports of products, fomites associated with transport and wild boar movements) into a modular tool that facilitates the visualization and comprehension of the relative risk of ASFV introduction into the EU by each analyzed pathway. RESULTS The framework's results indicate that 48% of EU countries are at relatively high risk (risk score 4 or 5 out of 5) for ASFV entry for at least one analyzed pathway. Four of these countries obtained the maximum risk score for one pathway: Bulgaria for legally imported products during the high risk period (HRP); Finland for wild boar; Slovenia and Sweden for legally imported pigs during the HRP. Distribution of risk considerably differed from one pathway to another; for some pathways, the risk was concentrated in a few countries (e.g., transport fomites), whereas other pathways incurred a high risk for 4 or 5 countries (legal pigs, illegal imports and wild boar). CONCLUSIONS The modular framework, developed to estimate the risk of ASFV entry into the EU, is available in a public domain, and is a transparent, easy-to-interpret tool that can be updated and adapted if required. The model's results determine the EU countries at higher risk for each ASFV introduction route, and provide a useful basis to develop a global coordinated program to improve ASFV prevention in the EU.

Risk of African swine fever introduction into the European Union through transport-associated routes: returning trucks and waste from international ships and planes

BACKGROUND The uncontrolled presence of African swine fever (ASF) in Russian Federation (RF) poses a serious risk to the whole European Union (EU) pig industry. Although trade of pigs and their products is banned since the official notification in June 2007, the potential introduction of ASF virus (ASFV) may occur by other routes, which are very frequent in ASF, and more difficult to control, such as contaminated waste or infected vehicles. This study was intended to estimate the risk of ASFV introduction into the EU through three types of transport routes: returning trucks, waste from international ships and waste from international planes, which will be referred here as transport-associated routes (TAR). Since no detailed and official information was available for these routes, a semi-quantitative model based on the weighted combination of risk factors was developed to estimate the risk of ASFV introduction by TAR. Relative weights for combination of different risk factors as well as validation of the model results were obtained by an expert opinion elicitation. RESULTS Model results indicate that the relative risk for ASFV introduction through TAR in most of the EU countries (16) is low, although some countries, specifically Poland and Lithuania, concentrate high levels of risk, the returning trucks route being the analyzed TAR that currently poses the highest risk for ASFV introduction into the EU. The spatial distribution of the risk of ASFV introduction varies importantly between the analyzed introduction routes. Results also highlight the need to increase the awareness and precautions for ASF prevention, particularly ensuring truck disinfection, to minimize the potential risk of entrance into the EU. CONCLUSIONS This study presents the first assessment of ASF introduction into the EU through TAR. The innovative model developed here could be used in data scarce situations for estimating the relative risk associated to each EU country. This simple methodology provides a rapid and easy to interpret results on risk that may be used for a target and cost-effective allocation of resources to prevent disease introduction.

Mental health and human rights in forensic psychiatry in the European Union

One of the most important events which characterizes the process of transitioning to the European Union is the ratification of the Convention for the Protection of Human Rights and Fundamental Freedoms by the European Council in 1950. Since then, the topic of human rights has become the inspiring principle in the construction of the European Community and afterwards the institutional apparatus which constitutes the Union. The primary objective of the European Union States currently is to promote a harmonization of the national legislations on mental health, favoring a central health policy which reduces inequalities amongst the member States. For this reason Europe is a region of the world in which is more abundant the normative one about mental health, especially in form of Recommendations directed to the States by the Council of Europe, although norms of direct application also exist. Special interest has the sentences dictated by the European Court of Human Rights and the conclusions of the European Committee for the Prevention of Torture and Inhuman or Degrading Treatment or Punishment. It should be mentioned the work of European Union equally and of the Office for Europe of the World Organization of the Health. This group of juridical instruments configures the most complete regulation on the mental patient's rights.

European Union (EU) general farm animal directive applicability in Africa and bovine welfare assessment in Italy

The was conducted with objectives focusing on the EU farm animal directive and applicability in Africa focusing in Ethiopia, the welfare assessment and the effect of different bovine respiratory disease (BRD) treatment protocols in beef cattle fattening unit and the calves navel healing and fitness for transport. Different methodology was applied: relevant literates, international organization, regional organization, countries legislations, standards were assessed and reviewed, for assessing beef welfare and biosecurity a modified version of the Italian protocol for assessing beef cattle was adopted which is part of the ClassyFarm monitoring scheme, 264 Limousine bulls with an average age of 11 months at the entrance to fattening unit were considered. Mycoplasma bovis was tested using RT-PCR at arrival and with culture at after 15 days of arrival to the fattening unit. For studying the navel healing and effect on transport the navels of 299 dairy calves (55 males, 244 females) aged 0–90 days were examined. As a conclusion, the European Union (EU) farm directive, could not be completely implement in African countries like Ethiopia, but it could serve as a good starting point, so as after successful identification of the farm animal welfare critical points may help as a starting point with modification to the local situation in the ground. In beef welfare assessment, integration of different assessment parameters could be of useful, when assessing beef welfare, and further continues detail physiological parameters of welfare assessment for integration with other assessment protocols should be studied, our finding indicate that also BRD was a major welfare and health concern in the studied population and evidence the difficulties of antimicrobial treatment of M. bovis associated BRD. In transporting calves with a completely healed navel should be considered best practice because it ensures that calves that are too young are not transported.