The Council of Ministers provides a comprehensive analysis of the Council of Ministers: how it works, its varied activities, functions, and its relationships with the other key EU institutions and the member states. It is a key legislative institution which lies at the fulcrum of decision-making in the European Union.

Over the past decade European economic integration has seen considerable institutional success, but the economic performance of the EU has been varied. While macroeconomic stability has improved and an emphasis on cohesion preserved, the EU economic system has not delivered satisfactory growth performance.
This book is the report of a high-level group commissioned by the President of the European Commission to review the EU economic system and propose a blueprint for an economic system capable of delivering faster growth along with stability and cohesion. It assesses the EU s economic performance, examines the challenges facing the EU in the coming years, and presents a series of recommendations.
The report views Europe's unsatisfactory growth performance during the last decades as a symptom of its failure to transform into an innovation-based economy. It has now become clear that the context in which economic policies have been developed has changed fundamentally over the past thirty years. A system built around the assimilation of existing technologies, mass production generating economics of scale, and an industrial structure dominated by large firms with stable markets and long term employment patterns no longer delivers in the world of today, characterized by economic globalization and strong external competition. What is needed now is more opportunity for new entrants, greater mobility of employees within and across firms, more retraining, greater reliance on market financing, and higher investment in both R&D and higher education. This requires a massive and urgent change in economic policies in Europe.

Who really participates in the European policy process? Do organized outsiders have a clear advantage in gaining access to decision-making? If so, with what consequences? This study, based on a range of case studies of regulatory and industrial policies by a multinational team of authors, argues that the European policy process provides access points for a wide variety of interests - firms, national trade associations, European sectoral and peak associations, clubs of big business, and 'civic' interests - alongside the battalions of officials from the member states. The interplay between these organized interests, the member governments, and the European institutions, fostered partly by the Commission in its roles of policy initiator and arbitrator, but anticipated also in the bargaining process of the Council of Ministers, produces some policy outcomes that are different from those in national settings. In particular, the case for liberalization and privatization is often strengthened. The emerging patterns of European governance are thus starting to change the characteristics of the European political economy.

Over the past decade European economic integration has seen considerable institutional success, but the economic performance of the EU has been varied. While macroeconomic stability has improved and an emphasis on cohesion preserved, the EU economic system has not delivered satisfactory growth performance. This book is the report of a high-level group commissioned by the President of the European Commission to review the EU economic system and propose a blueprint for an economic system capable of delivering faster growth along with stability and cohesion. It assesses the EU s economic performance, examines the challenges facing the EU in the coming years, and presents a series of recommendations. The report views Europe's unsatisfactory growth performance during the last decades as a symptom of its failure to transform into an innovation-based economy. It has now become clear that the context in which economic policies have been developed has changed fundamentally over the past thirty years. A system built around the assimilation of existing technologies, mass production generating economics of scale, and an industrial structure dominated by large firms with stable markets and long term employment patterns no longer delivers in the world of today, characterized by economic globalization and strong external competition. What is needed now is more opportunity for new entrants, greater mobility of employees within and across firms, more retraining, greater reliance on market financing, and higher investment in both R&D and higher education. This requires a massive and urgent change in economic policies in Europe.

Europe's transformations is the unifying theme for this collective work that brings together leading academics and policy makers from across Europe and beyond. When the geopolitical tectonic plates are shifting, the sustainability of the Western economic model is under serious challenge and internal divisions in Europe are deep, we aim at looking at the major issues in a 'big picture' perspective. We draw lessons from the way Europe has responded or not to changes both within and without in multiple crises in recent years, try to understand what is at stake and consider alternative policy proposals. All the contributors have a long and widely recognized knowledge and experience of a wide range of issues of European integration and Europe's role in the world. They cross academic and professional boundaries and bring different perspectives as top analysts and policy makers, including two former prime ministers and a former US ambassador to the EU. They come together as friends, colleagues, and former students of Loukas Tsoukalis celebrating his scholarship and overall contribution to the European public sphere. The volume is divided into three main parts. The first deals with issues of democracy and welfare. The second part deals with major changes in the European balance of power and the balance between institutions. The third part examines changes in the global system and Europe's present and potential role in it.

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