Dogs Bark and the Caravan Moves on:
Why should we care??
Dr. Nellie Munin
gypsy-caravan_zpsb555c41d

Four Crises at One Price
•Economic and Financial crisis.
•Immigration and refugees crisis.
•Security crisis.
•Political crisis.
–Prof. Steve Ohana, ESCP Europe school of Management
תוצאת תמונה עבור ‪crisis‬‏

Three Circles of Interests
•
•
תוצאת תמונה עבור ‪three circles‬‏
EU
Member States
The ‘People(s)’

EU Institutions:
The Five President Report: A Symptom
•Timing: crisis as leverage.
•Tactics: ‘technical’ steps.
•Aim: enhancing integration.
•Final goal: federation?
תוצאת תמונה עבור ‪boiled frogs‬‏

The Member States Circle
•‘Contributors’ vs. ‘Contributors’
•‘Contributors’ vs. ‘Beneficiaries’
•EMU vs. non-EMU
•East vs. West?
תוצאת תמונה עבור ‪balance of interests‬‏

The Crisis Definition Implies the Solution
•‘Contributing’ Member States:
•Debt Crisis
•‘Beneficiary’ Member States:
•Systemic imbalances
•
תוצאת תמונה עבור ‪crossroads‬‏

European ‘People(s)’?
•Weiler, Grimm (1995): European ‘demos’ (=people): value driven.
•Nicolaides (2013): demoi (=peoples). Demoi-cracy: A union of people who govern together but not as
one.
•Scharpf (1997): ad hoc common interests.

Democracy= Demos+Cratos
•Demos:
-Is there a ‘European People’?
-Who is it?
-What is its will?
•Cratos:
-Does it have the power to govern?
-Is representation at EU level satisfactory?
•
תוצאת תמונה עבור ‪Democracy‬‏

European ‘People(s)’ Position
•Do they have a position?
•Are they sufficiently informed?
•Are they sufficiently equipped to decide?
•   (Majone, 2002)
•Do they play a ‘double game’?
תוצאת תמונה עבור ‪three monkeys‬‏

The Five Presidents Report:
Why is it important?
• Sums up previous consultations.
• Puts forward a complete, clear vision + a     detailed action plan.
• Supported by the representatives of all important decision-makers at EU level.
• Became applicable one month after publication.
•
תוצאת תמונה עבור ‪Democracy‬‏

Five Presidents Report Becomes Reality:
ESM, Six Pack, Two Pack
•Financial assistance subject to:
–Financial contribution to the fund
–Sanctions if commitments are not met
–Strict economic and monetary discipline
•Constant national budget monitoring
–
–
1.
תוצאת תמונה עבור ‪austerity‬‏

Five Presidents Report Becomes Reality:
Single Banking Supervision
•ECB relies on national supervisors.
•11 authorities, most of them new.
•New ECB staff, additional budget.
•Conflicting interests between authorities.
•Overlapping powers.
•
תוצאת תמונה עבור ‪administration‬‏

Why Should We Care??
•Many of the new instruments apply to all EU
•Members, e.g.:
•Stricter economic and financial discipline: ‘European Semester’.
•National budget surveillance by the Commission.
•Certain aspects of banking supervision, e.g. supervision of branches of banks from SSM countries.
•General spillover effect: competitiveness, investment attraction.
•Future of the EU.
•
תוצאת תמונה עבור ‪two in a boat‬‏

Thank You
E-mail: Nelliemunin@gmail.com
תוצאת תמונה עבור ‪farewell‬‏