Madariaga - College of Europe Foundation

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L'Euro, le modèle et la puissance/The Euro, the Model and the Power

September 2013 

L’Euro, le modèle et la puissance, dernier livre de Pierre Defraigne argumente que l’UE est confrontée non pas à une, mais à trois crises étroitement imbriquées dans lesquelles se jouent à la fois son unité et la possibilité même de la démocratie en Europe.

Crise systémique du capitalisme de marché occidental d’abord, dont les symptômes sont le surendettement, la croissance zéro et un chômage structurel politiquement et financièrement insupportable. L’Europe ne s’en sortira que par la mutualisation et la restructuration des dettes dont le niveau est désormais incompatible avec les taux de croissance réalisables dans le futur prévisible. Mais pour l’avenir, l’UE doit surtout viser à l’échelle du continent à une régulation effective du capitalisme de marché, en particulier du gigantisme industriel et financier, et de l’arbitrage fiscal par le capital mobile (grandes entreprises et grandes fortunes).

Crise de gouvernance de l’euro ensuite en raison de l’absence de mécanismes robustes de recyclage des surplus et des déficits, à travers un budget central et une union bancaire.

Crise d’identité enfin d’une EU-28 soumise au choc d’élargissements massifs et précipités, et de ce fait toujours plus hétérogène.

Deux axes doivent guider le redressement à partir de la zone euro, noyau pionnier d’une unité politique: d’un côté, la convergence des économies nationales vers un modèle social commun articulé sur l’innovation et la réduction des inégalités; de l’autre le saut vers une défense européenne au sein de l’Alliance atlantique, condition préalable d’une véritable politique étrangère.

L’intégration politique de l’Europe autour du modèle social encapsulé dans la monnaie et de la défense, outil de l’autonomie européenne,  est la seule voie possible pour réguler le capitalisme global et pour traiter directement sur pied d’égalité avec les puissances continentales en émergence, sans passer par les Etats-Unis. L’unité politique est désormais la condition même de la possibilité de la démocratie en Europe.

Ce livre est publié en version bilingue français/anglais. 

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The Euro, the model, the power, the latest book by Pierre Defraigne argues that the EU is facing not one, but three interlinked crises, within which both European unity and the possibility of democracy are being played out.

First is the systemic crisis of Western market-capitalism. The symptoms of this are excessive debt, zero growth, and, politically and financially, unsustainable structural unemployment. Europe only will solve this by mutualising and restructuring debts, whose levels are incompatible with desired growth rates for the foreseeable future. The EU needs, above all else, to take a continent-wide perspective to effectively regulate global market capitalism, especially with regard industrial and financial gigantism, and the practice of tax arbitrage by mobile capital (big companies and big fortunes).

Secondly, there is a crisis of euro governance, brought about by the lack of robust mechanisms to recycle surpluses and deficits via a central budget and banking union.

And finally the European identity crisis; that of an EU28 which has been subjected to the shock of massive, hastily implemented enlargements, and thus increasingly heterogeneous.

The recovery from these crises, must start in the euro-zone itself since it provides the pioneering kernel of political unity, and should be guided by two initiatives:  the convergence of national economies towards a common social model based on innovation and the reduction of inequalities; and the move towards a European defence system within NATO, a prerequisite for genuine foreign policy.

The political integration of Europe, built around a common defence and a social model encapsulated in the common currency is the only way to regulate global capitalism and to deal directly, and on equal footing, with emerging continental powers, without depending on the United States.

Political unity is the very condition upon which the possibility of democracy in Europe rests.

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This book is published in a bilingual French/English version 

 To order the book

 
Reconciling Governance and Model: a Five-Fold Narrative for Europe
August 2012 

The undeniable economic governance achievements which have prevented the monetary union form collapsing deflected the attention from the challenge of rising unemployment and inequalities to which European citizens are confronted. Europe is therefore revealing an instinct for survival under emergencies, but at the expenses of a common purpose. The Institute of European Democrats and the Madariaga – College of Europe Foundation believe that a fivefold narrative for further integration in key areas would have the potential to break this deadlock and to reconcile the integration path with a fairer economic model. As such, they have asked leading European experts to expound their views and recommendations on the future of industrial policy, taxation, fiscal policy, banking regulation, and monetary policy.

Contributors: A. Bénassy-Quéré, M. Aujean, J-L. Gaffard, E. de Keuleneer, C. Alcidi and A. Giovannini

To download the full text, click here 

 

 
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Call for Papers

The EU and the Emerging Powers 2015: Cooperation and Competition in Knowledge and Technology

Deadline for Submission of Paper Proposals: 10 November 2014

Registration & Abstract Submission at: http://www.saintlouis.be/iee/1735.html

The papers will be presented at an international Conference that will take place in Brussels in the last week of April 2015 

More info

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