Implications of the Lisbon Treaty on EU External Trade Policy
The EU Centre in Singapore has published a background paper on the impact of the Lisbon Treaty on the external trade policy of the European Union. The Lisbon Treaty has given the EU the legal personality to negotiate and conclude international treaties. External trade policy will now become an integral part of the EU external action globally. In introducing changes to make the EU trade policy more comprehensive and more democratic, what would be the implications for EU trade relations with third countries? Ms Anne Pollet-Fort, Associate of the EU Centre and a European Commission Official (currently on leave) surveys the horizon for us to bring us some answers to what the changes in EU trade policy could mean for EU trading partners.
The Road to Copenhagen 2009 - The European Union and Climate Change Action
With the upcoming United Nations Climate Change Conference in Copenhagen in December, the EU Centre has come up with a background brief giving an overview of the European Union’s (EU) climate change policy, as well as the position of the EU in working towards a post-Kyoto climate change agreement. The EU has been a leader in global climate change policy making since the 1990s, and was the principal force in advocating the most stringent measures to mitigate climate change in the preparations leading up to the United Nations Framework Convention on Climate Change (UNFCCC) and the Kyoto Protocol. As the Kyoto Protocol’s targets are set to expire in 2012, international negotiations have been taking place since the end of 2007 to prepare for the new agreement aimed to be finalized in Copenhagen this December. The EU position with regards to the new agreement is proposed based on the principle of common but differentiated responsibilities, includes areas previously uncovered by the Kyoto Protocol, and considers the sustainability of the current actions proposed. The EU also recognises the importance of financing for climate change mitigation and adaptation measures, and has emphasized that the public contribution of each developed country should be fair and comparable and should be negotiated as part of the deal at Copenhagen. The outcome of the Copenhagen Summit is uncertain as a global deal not only depends on the efforts by the EU but will necessitate commitment from the US and other major developing economies as well.
10 Years of the Euro: Achievements, Challenges and Lessons for Asia
The creation of the Economic and Monetary Union (EMU) and the euro ten years ago was a leap forward in the process of European integration, according to a recently launched policy brief, introduced at a Distinguished Lecture by Klaus Regling, EU Fellow at the Lee Kuan Yew School of Public Policy and Senior Adviser to the European Commission. The event drew a capacity crowd. Prof Kishore Mahbubahni, Dean of Lee Kuan Yew School of Public Policy, chaired the session. The policy brief reviewed the achievements of the first decade of the euro and the challenges ahead. It outlined out the various stages in implementing the EMU: from freeing movement of capital, to establishing a Central Bank, to economic convergence, fixing the exchange rate and launching the euro. The euro and the EMU have enjoyed a successful decade, buoyed by relatively benign conditions in the world economy, particularly in increasing trade flow, financial and product market integration, generating macroeconomic stability and growing status as an international currency. With the onset of the international financial crisis however, the euro-zone faced the first major test and challenge. The crisis exposed existing imbalances within the area and raised the stakes for economic coordination. Nonetheless, the EMU provided important protection and mitigated the effects of the crisis on vulnerable member states. The experience of the past decade offered lessons for economic integration in Asia, particularly in creating reserve and exchange rate arrangements. The brief noted that Asia existed in a different geopolitical context compared with the EU, but that a regional forum would probably still need to be a pre-condition for currency reserve and monetary cooperation, alongside political will, effective surveillance and clear procedures.
European Union Centre in Singapore 11 Slim Barracks Rise (off North Buona Vista Road), #06-01 Executive Centre (NTU@one-north), Singapore 138664