"The New European Economic Policy: An Analysis of its Development, Performance, and Limitations"

Brunet, Ferran. (2007) "The New European Economic Policy: An Analysis of its Development, Performance, and Limitations". In: UNSPECIFIED. (Unpublished)

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Abstract

The new European economy, complete with monetary union, gave rise to the emergence of a New European Economic Policy (NEEP). This paper takes as its task the analysis of: i) forms of the European Union elaborating on some of the specifics of the NEEP; ii) the problems the new European economy has which demand huge reforms: low employment rate, the rigidity of the labor market, non-competition in product and service markets, slowing of process of convergence with American levels, differences in living-standards, ageing and globalization; iii) the elements of the NEEP: Common policies such as those on competition, trade and agriculture, the program of pro-competitive structural reforms, monetary policy, and the coordination of economic and employment policies of the Member States; iv) European policy mix and its high performance except in regard to reforming economies of old Europe. The structural tendencies of the European economy need to be considerably more competitive. While maintaining this policy mix, reformations of the economic institutions need to be realized by linking Europe, competition and solidarity.

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