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RISS 인기검색어
- 검색키워드
- 저자 : Miroslav N. Jovanović (검색결과 2 건)
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Was European Integration Nice while It Lasted?
Miroslav N. Jovanović 세종대학교 경제통합연구소 2013 Journal of Economic Integration Vol.28 No.1
The principal goal of integration in Europe has always been the safeguarding of peace through economic integration. The European Union (EU) has overseen splendid economic achievements. A sign of that great success has been the EU’s continuous enlargement. The eurozone is the crown jewel in the process of European integration, but it is also its weakest component. The EU’s most glorious attribute, the eurozone is now synonymous with harsh austerity measures, protests and no prospect of any remarkable growth in many countries for years to come. Obvious rifts between the EU’s countries are shaking its foundations like never before. The EU passed through many crises (approximately one a decade), and it always exited stronger. This time may be different. The EU may weather the storm. It may, however, end up as a big and important group, but not a very happy family of nations. The first decade of the 21st century was ‘lost’ for the EU, while the second decade may prove to be the epoch of its diminished global relevance. This is a pity as Europe has taken the reins in many global issues (e.g. environment). Compared with Europe, integration in Southeast Asia started from a very different point and at a different time. Nonetheless, the region provides certain context-specific lessons for the integration path. Given the circumstances in Southeast Asia, it is suggested that the region integrate but follow a light institutional model coupled with simple rules of origin to support efficient supply chains and production networks.
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Is the Eurozone Rescue Strategy Tantamount to the Rearrangement of the Deckchairs on the Titanic?
( Miroslav N. Jovanovi ) 세종대학교 경제통합연구소 2012 Journal of Economic Integration Vol.27 No.1
The eurozone is the crown jewel in the process of European integration. This monetary zone includes the most advanced integration grouping of countries in the European Union. The eurozone has been expanding the number of its participants, a sign of success in any economic or political union. Politicians promised citizens stability and perpetual economic progress at the time of the eurozone inauguration (1999). This monetary integration has been a predominantly political process which neglected certain economic fundamentals for long term durability. These include federal-type intra-group fund transfers and orientation towards economic growth. Certain eurozone flaws appeared, raising powerful doubts about its survival. Some of the internal troubles of the eurozone such as an endemic lack of respect of rules, were amplified by the global credit crunch, bringing into question the initial promises made to citizens. A series of rescue operations commenced in 2010. Too much political and economic capital has been invested in the eurozone, to the extent that its statesmen will do everything they can to rescue it. If its participants believe the deal to be beneficial, the eurozone will continue its existence, but several federal-type amendments are necessary. Otherwise, the eurozone may join the ranks of a series of European monetary zones that have disintegrated over the past two centuries. The bloc`s citizens (and others) are unwitting observers of a slow motion eurozone train crash. Even though the eurozone burdens some of its member countries with high costs, its break-up or countries` departure from it may prove even worse, but not inconceivable.
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