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New Economy, Leadership, Entrepreneurship, Management, Global Business

The Future of Europe

Posted by iBlog on August 9, 2007

These are bad times for European politics. In the last year or so, Europe’s political prospects have been dramatically shaken. By voting no to the draft European constitution, citizens of France and the Netherlands dealt a serious blow to the European construction. In foreign policy, dealing with recent geopolitical crises, Europe, as usual, has had problems in acting as a political entity.

The political crisis has apparently spread to economic construction: the largest European member countries systematically test the national budget discipline, set forth in the Stability and Growth pact; the EU budget for 2007-2013 has been broadly unsatisfactory due to national selfishness; the Bolkenstein directive (a fundamental step to liberalize free trade in services) has been dramatically watered down, as has the takeover bids directive. Finally, a new and widespread form of protectionism is emerging in banking, energy, and steel, hampering the very foundation of Europe, which is the single market.

Read the full article in Harvard International Review

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