Monetary policy in europe: towards a european central bank and one european currency

Most alternative blueprints for European Monetary Union (EMU) differ in their opinions about convergence requirements or the need for binding fiscal rules and controls of individual national governments' debt policies, but there is, if not complete consensus, widespread agreement that the European Central Bank (ECB) should be independent of political control from both European Community (EC) institutions and national governments. The main argument for an independent European central bank is empirical: those countries in which central banks are insulated from the political process and charged with maintaining price stability have experienced the lowest and most stable inflation rates in recent decades. The present paper reviews and critically evaluates this political economy literature which relates inflation performances to the constitutional features of central bank statutes. Based on this assessment the draft statutes of the ECB and the constitutions of the individual European national central banks are discussed in terms of the independence they grant central bank board members from partisan influences. Furthermore, concrete country-specific suggestions for enhancing central bank independence during stage two of the gradual transition to EMU, which is to be completed by 1999, are made. It is argued that in some countries laborious constitutional reforms of central bank statutes are overdue and must be implemented in order to make these institutions fit for an anti-inflationary EMU.     

The parliamentary scrutiny of euro area national central banks

European Economic and Monetary Union (EMU) involves several core principles for the organization of participating national central banks (NCBs/CBs), including their independence from political institutions. Early studies show that the level of national parliamentary scrutiny over euro area NCBs varied (Lepper and Sterne 2002). In this context, our article examines the extent to which parliaments make use of four distinct control mechanisms to hold CBs accountable. We explain the very different levels of parliamentary scrutiny over NCBs in Germany, France and Belgium during the 2013–16 period. We find that the level of scrutiny depends principally on the presence of a longstanding tradition of CB independence—and specifically the manner in which independence has been politicized and interpreted by the political class. We argue that the strength of the parliament can also explain some variation.     

The development of public administration from a global perspective: the case of italy

What is the impact of globalization on the Italian state and the development of the Italian public administration? Italy is one of those countries where the forces of globalization are challenging the strong state tradition and the predominance of the legal model of public administration. Globalization and the European regional integration push toward a diminished role of the state and a managerial public administration with an increased emphasis on efficiency and better quality of government activities.     

The international context and development of european integration

The article analyzes the evolution of Italian foreign policy from a somewhat generic support of Western positions until the early 1980s to a progressively more critical assessment of the country's medium and long-term interests. After outlining Italy's stance visa- vis the reform of the United Nations and other global issues, the article describes the country's role in Europe, with special focus on the security and economic integration aspects. In particular, the article illustrates how Italy's qualification as a founding member of Europe's economic and monetary union (EMU) has enhanced the credibility and visibility of the country on the world stage.     

Regions and regionalism in the european community

Regionalism and European integration are two forces which are modifying the nation state. They are in contradictory in some respects but complementary in others. Their combined effects raise a number of policy and institutional issues. A new triangular relationship is emerging, among the Community, states and regions. Most links between regions and the Community pass through national governments but both regions and the Commission are seeking direct links. The Community's structural funds have become an object of contention among the three levels. Both regional development and European integration have ceased to be matters regulated at elite level in a technocratic manner and become highly politicised and contentious. In the new Europe, the differing capacities of regions to project themselves within states and the Community is likely to enhance the trend to a variable geometry Europe.     

Europe 2000: the future of the european union

The collapse of communism undoubtedly affects Europe. Rather than being allied by a negative force (the communist threat), European countries are now in the position to stress positive factors leading to coherence and alliance. The future of the European Union is the focal point of this special issue. Five dimensions are being analyzed and discussed: 1) regionalism and European integration, 2) monetary policy, 3) tax harmonization, 4) democratic legitimacy, and 5) social security.     

The significance of outcomes within european health sector reforms: towards the development of an outcomes culture

Recently, policy makers, managers and users of health services have focused their attention on questions about service outcomes and effectiveness. However, the stakeholders in health care-communities, patients, clinicians, insurers, purchasers, managers and policy-makers - may, for various reasons, desire different outcomes to be realised over different timescales. Whilst a focus on outcomes forms a key evaluative criteria within the reforms of European health care systems, the significance of information and the priorities given to outcomes vary across Europe. A central tension lies between the pursuit of individual as opposed to population health gain. Other key issues include the need to separate the evaluation tools from their use and the importance of user choice and user involvement. The article outlines a model of the possible roles and needs for outcomes information. It differentiates between the uses of outcomes information at the patient care and population levels and for considering individual and population health gain. The needs to enhance country-based outcomes databases and to aid the development of an outcomes culture across health care systems in Europe are discussed. The article also discusses issues relating to developing an outcomes culture as an essential element of the health care reform process.     

Overview of administrative reform and implementation in italy: organization,personnel,procedures and delivery of public services

In the early nineties Italy as well as many industrialized countries embarked on a wide governmental reform. Important measures were undertaken by Amato Cabinet in 1991-1992 and Ciampi Cabinet 1993-1994. Later, the Prodi Cabinet has drawn up a comprehensive government reform and modernization plan. This plan deals more courageously and with greater determination with the difficult issue of rethinking the whole Italian administrative system: its institutional architecture, its mission, its rules, its organizational and management models, the patterns of behavior of its managers and employees and its way of dealing with individual citizens and businesses.     

Regulators and the quest for coherence in finance: The case of loss absorbing capacity for banks

After the international financial crisis, new financial regulation was adopted at the international, regional and national levels, raising the issue of how to promote regulatory coherence, defined as the consistency between the rules adopted at different governance levels and in a variety of policy venues. A major recent area of reform concerned the loss absorbing capacity (LAC) of banks. In practice, the lack of regulatory coherence concerning LAC hampers the effective resolution of large international banks in a timely manner, ultimately undermining financial stability. We examine the role of regulators in the quest for coherence on LAC, explaining the incentives they had and how they deployed their delegated competences at different levels to achieve coherent rules that ensure financial stability. Theoretically, we combine insights from the public administration and political economy literatures. Methodologically, we process trace the making of LAC rules on three governance levels and in multiple policy venues.     

Tax harmonization in the european community: lessons for free trade areas and common markets

Economic cooperation in the context of free trade areas and common markets requires tax harmonization. On its way to a single internal market, the European Community (EC) has acquired substantial experience in the design of tax systems that leave member states as much tax sovereignty as is compatible with free trade and free competition. This experience indicates that tax harmonization and tax reform must go hand in hand.     

Battling for the regions: Local government policy networks and the reform of the european structural funds

The recent reform of the European Structural Funds led to a wide‐ranging set of lobbying activities on the part of UK regions which felt their previous allocations were likely to be threatened. Much of this activity took place through existing networks or alliances of networks at a national and transnational level. This paper examines the issues at stake in the reforms, the attitudes of the networks to those issues and the need for networks to have a common focus, adequate resources and effective internal communication structures to be effective.     

美国的选举制度

四年一次的美国总统选举将在11月举行.民主党候选人"Two Johns"(约翰·克里和约翰·爱得华兹)所组成的竞选班子已登台亮相,向现任总统、共和党候选人乔治·W·布什提出挑战,美国的"选举秀"不断升温.事实上,作为现代西方国家民主制创始国之一,美国的总统选举制度有其独特之处.     

If not by tanks,then by banks? The role of soft power in Putin's foreign policy

This article considers the benefits of the recently developed concept of ‘soft power’ in understanding Russia's foreign policy. It argues that claims that Moscow is exercising a form of soft power imperialism in the former Soviet region cannot be fully supported by the existing evidence. To differentiate between the imperialist and stabilising objectives of Russian foreign policy the article analyses the Russian domestic discourse on exploiting soft power in foreign policy. It then compares the views of different schools of thought with Vladimir Putin's philosophy and foreign policy record. Finally, it selects for closer investigation Russia's policy in the Caucasus.