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Economy

The Future of International Trade and Investment (ESPAS Ideas Paper)

Date of Editorial Board meeting: 
Publication date: 
Thursday, September 20, 2018
Abstract in English: 
This paper examines current trends, uncertainties and wild cards in relation to international trade and investment. It then considers implications for the European Union.
The European Union’s interest remains clear: a rules-based order is better than a transactional or winner-takes-all approach to international trade. But it is wise to plan for the worst, while hoping for the best.
The future of international trade and investment may lie somewhere between the extremes of the status quo and a reversion to protectionism. This would involve a thorough revision and rebalancing of multilateral norms, to take account of major global changes on many fronts. The EU has traditionally been a leading player in the creation of international institutions and norms. But the days when Europe could dictate the global agenda are over. Europe’s role will be increasingly a matter of seeking to influence events, rather than asserting dominance. In the coming decades, internal unity and a strong sense of purpose will be all the more important.
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12
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Regoup and Reform-Ideas for a more responsive and effective European Union

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Publication date: 
Friday, February 17, 2017
Abstract in English: 
This report is based on discussions in the CEPS Task Force on EU Reform. The group met four times between September 2016 and January 2017. Participants included members of the European Parliament, former members of the college of Commissioners, former members of the European Council and Council of Ministers, as well as leading scholars on EU politics and law. A list of members and their organisational affiliation appears in the Annex. Pieter de Gooijer, Permanent Representative of the Kingdom to the Netherlands to the EU, and Pawel Świeboda, Deputy Head of the European Political Strategy Centre of the European Commission acted as observers to the proceedings of the Task Force.
CEPS’ Task Force on EU reform has looked into constitutional issues and citizens' involvement in politics, migration and asylum, euro area economic governance, and trade policy. These are all areas where the added value of the Union's action is clear and where we still have unfinished business. We have tried to draw up a list of proposals for actions that are positive and can bring solutions where populist discourse cannot. Our recommendations are achievable, realistic, concrete, based on objective facts and figures, and part of a broader long-term approach. We do not shy away from considering possible treaty change, but focus first on what can be done quickly and easily, if there is a willingness to act.
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62
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Public Infrastructure in the Western Balkans : Opportunities and Challenges

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Publication date: 
Tuesday, April 17, 2018
Abstract in English: 
An assessment of public infrastructure development in the Western Balkans. The paper quantifies the large gaps across various sectors/dimensions, evaluates current infrastructure plans, and discusses funding options available to countries in the region. The paper also identifies important bottlenecks for increased infrastructure investment. Finally, the paper quantifies potential growth benefits from addressing infrastructure gaps, concluding that boosting the quantity and quality of infrastructure is vital for raising economic growth and accelerating income convergence with the EU. The paper concludes with country-specific policy recommendations.
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71
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Securing the Energy Union: five pillars and five regions

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Date of Editorial Board meeting: 
Publication date: 
Wednesday, March 29, 2017
Abstract in English: 
Two years after the EU formally launched its strategy for an Energy Union, this Report examines the energy challenges facing the different regions of Europe, investigating shared priorities and common projects, as well as barriers to integration and cooperation. A series of chapters devoted to distinct regions examines what role the Energy Union can play to help address their energy challenges, including those related to energy security and relations with external suppliers. The Report also looks at efforts to push forward with the construction of the Energy Union via regional initiatives, including some that reach beyond the borders of the EU. Such initiatives have shown how progress on all five pillars of the Energy Union is important for the energy security of the EU and how progress need not be uniform across Europe. Notably, the deepening and interconnection of energy markets – nationally, regionally, within the EU, and beyond its borders – are central to this process
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67
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After the EU Global Strategy – Building resilience

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Publication date: 
Monday, May 29, 2017
Abstract in English: 
As well as introducing new decisions and actions in the field of security and defence, the EU Global Strategy (EUGS) stresses the imperative to build resilience in the EU neighbouring countries and surrounding regions.
As the EUGS approaches its first anniversary, and shortly before the release of a Joint Communication on resilience by the EEAS and the Commission, this volume, the second in the EUISS post-EUGS series, seeks to shed more light on the different definitions of the concept and how these may be applied in specific functional and geographic areas. It aims to clarify not only the meaning of the term but also its policy implications in the wider security context, showing how resilience needs be understood as a dynamic process involving a number of EU policies, external partners and local players.
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98
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Revisiting the Economic Case for Fiscal Union in the Euro Area

Date of Editorial Board meeting: 
Publication date: 
Tuesday, February 20, 2018
Abstract in English: 
The paper makes an analytical contribution to the revived discussion about the euro area’s institutional setup. After significant progress during the eurocrisis, the drive to complete Europe’s Economic and Monetary Union (EMU) had stalled, and the way forward will benefit from an in-depth look at the conceptual issues raised by the evolution and architecture of Europe, and the trade-offs involved. A thorough look at the underlying economic issues suggests that in the long run, EMU will benefit from progressing along three mutually supporting tracks: introduce more fiscal risk sharing, helping to make the sovereign “no bailout” rule credible; complementary financial sector reforms to delink sovereigns and banks; and more effective rules to discourage moral hazard. This evolution would ensure that financial markets provide incentives for fiscal discipline. Introducing more fiscal union comes with myriad legal, technical, operational, and political problems, raising questions well beyond the remit of economics. But without decisive progress to foster fiscal risk sharing, EMU will continue to face existential risks.
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63
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Dealing with diversity-The EU and Latin America today

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Friday, May 4, 2018
Abstract in English: 
This Chaillot Paper examines the relationship between the EU and Latin America and the Caribbean (LAC). It contends that the original assumptions underpinning EU policy towards the region no longer apply, due to the erosion of the liberal consensus, as well as the ongoing obstacles to regional integration in LAC.
Highlighting the various shortcomings in this bi-regional relationship, the paper argues that focusing on bilateral relations between the EU and individual countries is the way to move forward today, as it is in this sphere that deeper and more concrete cooperation has been strongest. This is because this level of interaction is best suited to accommodate an increasingly diverse region.
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50
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EYE report 2018: Speak up Europe! 100 ideas for a better future

Date of Editorial Board meeting: 
Publication date: 
Sunday, July 15, 2018
Abstract in English: 
This is the report from the 2018 European Youth Event (EYE). It covers a wide range of topics and issues, organised around 5 main axes:
-Young and Old: How to ensure the Digital evolution will work for a fairer society and to adapt the EU to this changing environment
-Rich and Poor: Working for a more equal society (in terms of revenues, employment, gender...)
-Apart and Together: Working for a stronger Europe and promoting solidarity in and outside the EU
-Safe and Dangerous: Safety in the age of digital revolution and increasingly turbulent world
-Local and Global: Tackling climate change and working towards sustainable development
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43
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Financing the future of supercomputing

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Publication date: 
Tuesday, June 26, 2018
Abstract in English: 
While Europe has made substantial progress in the development of its High Performance Computing (HPC) ecosystem in the last few years, the study has identified a significant investment gap, which has led to a setback in its relative global position.
In this context, this study aims to assess the access-to-finance conditions for the development and deployment of HPC. In particular, the study’s specific objectives were to:
• Identify successful commercial business models in the HPC market.
• Assess the financing requirements in key market segments and identify current financing bottlenecks.
• Provide recommendations to bridge the current gap between technology providers/users (demand side for financing) and investors (supply side).
• Explore options for public-private partnerships in financing HPC and propose ways of funding the HPC sector under the current EU financial instruments.
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154
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Smart Cities, Smart Investment in Central, Eastern and South-Eastern Europe

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Monday, July 9, 2018
Abstract in English: 
This paper makes the case for smart policy development in Central, Eastern and South-Eastern Europe (CESEE).
It uses European Investment Bank Investment Survey (EIBIS) 2017 results for CESEE cities to outline local infrastructure gaps and demonstrate the productivity and innovation gaps between CESEE cities and other EU cities.
It discusses negative demographic trends in Central, Eastern and South-Eastern Europe, and evaluates capital and non-capital regional convergence in CESEE countries.
Introducing a Smart Region Index, to allow the identification of gaps in CESEE regions compared with the EU, it also uses EIBIS to provide further conclusions on obstacles to investment for CESEE municipalities and highlights the importance of the use of EU funds.
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54
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