P. Coffey - Böcker

This in-depth analysis of important European policy issues and official proposals will be examined at the European Union's (EU) 1996 Intergovernmental Conference (IGC). The author critically examines and makes his own proposals for long-term EU policies, notably Europe's international competitive position, agriculture, regional and social issues, and economic and monetary union, as well as the Community's future enlargement and foreign policy and defence issues. In comparing the governmental and European institutional proposals for the IGC, Coffey observes a common thread and differences between the different partners. Consequently he sees the evolution of a loose European Confederation with a nucleus of countries at the centre integrating more swiftly than others. A special feature of the book is the collection of documents (contained in the appendices) consisting of the official governmental and European institutional proposals for the IGC.

This text is a comprehensive and in-depth analysis of the most important European policy issues and official proposals which will be examined at the European Union's (EU) 1996 Intergovernmental Conference (IGC). The author critically examines and makes his own proposals for long-term EU policies, notably Europe's international competitive position, agriculture, regional and social issues, an economic and monetary Union, as well as the Community's future enlargement and foreign policy and defense issues. In comparing the governmental and European institutional proposals for the IGC, Coffey observes a common thread and differences between the different partners. Consequently he sees the evolution of a loose European Confederation with a nucleus of countries at the centre integrating more swiftly than others. A feature of the book is the collection of documents (contained in the appendices) consisting of the official governmental and European institutional proposals for the IGC.

by Peter Coffey THE BACKGROUND Once again, Europe finds itselfata majorcrossroads. In January, 1999, the Euro, the European currency, was launched. This major undertaking does reaffinn the EuropeanUnion'scommon international monetarypersonality whilst further deepening the integration process in Western Europe. The launch of the Euro has gone hand-in-hand with an intensification of the negotiating process between the European Union (EU) and a number of countries of Central and Eastern Europe and Cyprus which are seeking membershipofthe EU. These countriesare divided into two groups, i. e. the so-called "frontrunners" (Cyprus, the Czech Republic, Estonia, Hungary, Poland and Slovenia), and the "others" (Bulgaria, Latvia, Lithuania, Malta and Romania). The accession negotiations with the first group have pro- ceeded rather swiftly. Now, the second group ofcountries wishes to move into the first one. PRINCIPLES AND CRITERIA FOR MEMBERSHIP Basicallyspeaking,countries fulfilling the following criteria may apply for membershipofthe EU: 1. they mustbe (geographically speaking) Europeancountries, XIV Europe - Toward the Next Enlargement 2. theymust have a multi-party parliamentary democracy, 3.they must have a market-type economy, and, 4. they must respect human rights. These are obviously very basic criteria, thus at the Copenhagen Summitof 1993, they were further refined with an eye to the future enlargement - eastwards - of the EU. In some ways, this listofcriteria obscures someofthe real basic problems which future Member States face in the process of the negotiations for membership. Basically, these countries must accept the three fundamental treaties, i. e. , the Rome, Maastricht and AmsterdamTreaties.

Latin America's experience with regional economic integration has been only slightly shorter than that of Europe. In fact, the first attempt at integration started as early as 1960, with the creation of LAFTA - the Latin American Free Trade Area (subsequently replaced by LAIA - the Latin American Integration Association). LAFTA, composed of 11 countries, sought, unsuccessfully, to create a free trade area in 12 years. In 1969, the Andean pact, which sought, also unsuccessfully, to create a sub-regional free trade area, was set up. Recently the Presidents of Argentina, Brazil, Paraguay and Uruguay signed the Treaty of Asuncion aimed at creating a common market as from 1st January, 1995. This common market, MERCOSUR, will be completed by 2006. In comparison with the earlier and unsuccessful attempts at integration, and despite challenges and problems, both internal and external, MERCOSUR is working, and trade between the member States is increasing. Furthermore, as with the case of the European Union (EU), serious attempts (notably between Argentina and Brazil) are being made to co-ordinate economic and monetary policies.The most important evidence of these moves is the introduction of hard currencies, the reduction in the size of the public sector and the privatization of State assets. These are clearly exciting times for Latin American integration. In this book, the first in a series of books on International Economic Integration, the authors examine the experience of MERCOSUR in the Latin American integration progress. After an analysis of the history of the moves towards integration in South America, the case of each Member State and the Associate Country is examined and perspectives for the future are assessed.

Latin America's experience with regional economic integration has been only slightly shorter than that of Europe. In fact, the first attempt at integration started as early as 1960, with the creation of LAFTA - the Latin American Free Trade Area (subsequently replaced by LAIA - the Latin American Integration Association). LAFTA, composed of 11 countries, sought, unsuccessfully, to create a free trade area in 12 years. In 1969, the Andean pact, which sought, also unsuccessfully, to create a sub-regional free trade area, was set up. Recently the Presidents of Argentina, Brazil, Paraguay and Uruguay signed the Treaty of Asuncion aimed at creating a common market as from 1st January, 1995. This common market, MERCOSUR, will be completed by 2006. In comparison with the earlier and unsuccessful attempts at integration, and despite challenges and problems, both internal and external, MERCOSUR is working, and trade between the member States is increasing. Furthermore, as with the case of the European Union (EU), serious attempts (notably between Argentina and Brazil) are being made to co-ordinate economic and monetary policies.The most important evidence of these moves is the introduction of hard currencies, the reduction in the size of the public sector and the privatization of State assets. These are clearly exciting times for Latin American integration. In this book, the first in a series of books on international economic integration, the authors examine the experience of MERCOSUR in the Latin American integration progress. After an analysis of the history of the moves towards integration in South America, the case of each Member State and the Associate Country is examined and perspectives for the future are assessed.

NAFTA has been described by one expert as being a partial customs union. It is, in any case, a special kind of free trade area because it consists of two highly developed economies and one large third world economy. In ths book, the contributors examine the specific interests of the three member countries, Canada, Mexico and the United States in the creation of NAFTA. They also assess the influence of this trade area on their economics. Looking to the future, doubts are expressed about the feasibility of using NAFTA (a hope expressed by the USA) as a stepping stone in the creation of a Free Trade Area of the Americas. Instead, the contributors see the consolidation of MERCOSUR in Latin America and the creation of a new Trans-Atlantic Market - as proposed by Sir Leon Brittan - as more likely developments.

by Peter Coffey THE BACKGROUND Once again, Europe finds itselfata majorcrossroads. In January, 1999, the Euro, the European currency, was launched. This major undertaking does reaffinn the EuropeanUnion'scommon international monetarypersonality whilst further deepening the integration process in Western Europe. The launch of the Euro has gone hand-in-hand with an intensification of the negotiating process between the European Union (EU) and a number of countries of Central and Eastern Europe and Cyprus which are seeking membershipofthe EU. These countriesare divided into two groups, i. e. the so-called "frontrunners" (Cyprus, the Czech Republic, Estonia, Hungary, Poland and Slovenia), and the "others" (Bulgaria, Latvia, Lithuania, Malta and Romania). The accession negotiations with the first group have pro- ceeded rather swiftly. Now, the second group ofcountries wishes to move into the first one. PRINCIPLES AND CRITERIA FOR MEMBERSHIP Basicallyspeaking,countries fulfilling the following criteria may apply for membershipofthe EU: 1. they mustbe (geographically speaking) Europeancountries, XIV Europe - Toward the Next Enlargement 2. theymust have a multi-party parliamentary democracy, 3.they must have a market-type economy, and, 4. they must respect human rights. These are obviously very basic criteria, thus at the Copenhagen Summitof 1993, they were further refined with an eye to the future enlargement - eastwards - of the EU. In some ways, this listofcriteria obscures someofthe real basic problems which future Member States face in the process of the negotiations for membership. Basically, these countries must accept the three fundamental treaties, i. e. , the Rome, Maastricht and AmsterdamTreaties.

NAFTA has been described by one expert as being a partial customs union. It is, in any case, a special kind of free trade area because it consists of two highly developed economies and one large third world economy. In this book, the contributors examine the specific interests of the three member countries, Canada, Mexico, and the United States in the creation of NAFTA. They also assess the influence of this trade area on their economics. Looking to the future, doubts are expressed about the feasibility of using NAFTA (a hope expressed by the USA) as a stepping stone in the creation of a Free Trade Area of the Americas. Instead, the contributors see the consolidation of MERCOSUR in Latin America and the creation of a new Trans-Atlantic Market - as proposed by Sir Leon Brittan - as more likely developments.

The European M::metary System (EMS) is perhaps the only success story of the Common Market since the First Enlargement. Its success, particul­ arly where the comnercial use of the ECU is concerned, has taken rrost experts by surprise. So much so, that when the author tried to recommend to his students a suitable and substantial work of study and/or reference about the experience of the EMS and its possible future evolution --- no book could be found. Thus, the author set out to write the present work. The author's aim is not to give a historical account of the EHS. Rather, the intention is to place the experience in a major historical context wherein the System is seen an important transitional phase on the road to the implementation of a full economic and rronetary union (EMU) • When examining the earlier plans for an EMU which saw the light of day between 1969 and 1970 (already so long ago!) clear reasons emerge why the original six founder Member States of the EEC should have found it logical to embark upon the road to an El'1U - "p=vided the political will to do so existed". Thus, they had become highly integrated and were conducting half their trade with each other. Then, there was the desire to integrate still further ---- eventually leading (perhaps) to a political union.

Main Economic Policy Areas of the EC: After 1992 is a completely rewritten version of past editions. It examines successes and problems associated with the EC's main economic policy areas and makes proposals for the future. For the first time, a chapter on the very important policy area of transport is included.This volume is an indispensable course book and handbook for all individuals interested in the European Community's main policy areas at the beginning of the coming into effect of the Single European Market.

PETER COFFEY Since the appearance of the second edition of this work - which was so quickly out of print - so much has happened in Europe. In the EEC itself, 1989 was a watershed year concerning the Community's moves towards the creation of the Single European Market (SEM) by the end of 1992. Early in the year, the appear­ ance of the De10rs Report on Economic and Monetary Union in the European Community, was followed by an agreement, at the European Summit, in June, to begin the first stage of this union in the Summer of 1990. As a counterpart to this and other agree­ ments, seen by trade unions and similar groups as an agreement * New composition of the ECU as on 21 st September 1989. Deutsche Mark DEM : 30.10% French Franc FRF : 19.00% Pound Sterling GBP : 13.00% Italian Lira ITL : 10.15% Dutch Guilder NLG 9.40% 7.90% Belgian Franc BFR 2.45% Danish Kronor DKK 1.10% Irish Pund IEP 0.80% Greek Drachma GRD 5.30% Spanish Peseta ESP 0.80% Portuguese Escudo PTE IX x between governments and businesses, there followed calls for and the adoption by eleven Heads of State of a Social Charter.

At the end of 1992, things will never again be the same inside the European Economic Community (EEC), because, as that year draws to a close, the aims of the Single Act of European Union (SAEU), which became law in July, this year, will have become effective - thus creating a 'real' Common Market. This will mean that there will no longer be any obstacles to the free movement of goods between the Member States. Equally, and for the first time in the EEC's history, internal capital movements will be absolutely free, there will no longer be any exchange controls and it will be possible to freely establish financial services between EEC countries. Likewise, as currently being proposed by Lord Cockfield, wide variations in the levels of value added tax (VAT) between Member States will not be allowed. Also, in the case ~f the Common Agricultural Policy (CAP), it will no longer be possible (nor even necessary) to have the monetary compensatory amounts (MCA's). All these changes - but especially the increased freedom in capital movements - will have profound consequences for the different regions of the Community and it will be desirable to have a much more dynamic Regional Policy before 1993. Last, but by no means least, a greater number of decisions inside the Community will be made by majority voting and the Parliament will be endowed with enhanced powers.

The European M::metary System (EMS) is perhaps the only success story of the Common Market since the First Enlargement. Its success, particul­ arly where the comnercial use of the ECU is concerned, has taken rrost experts by surprise. So much so, that when the author tried to recommend to his students a suitable and substantial work of study and/or reference about the experience of the EMS and its possible future evolution --- no book could be found. Thus, the author set out to write the present work. The author's aim is not to give a historical account of the EHS. Rather, the intention is to place the experience in a major historical context wherein the System is seen an important transitional phase on the road to the implementation of a full economic and rronetary union (EMU) • When examining the earlier plans for an EMU which saw the light of day between 1969 and 1970 (already so long ago!) clear reasons emerge why the original six founder Member States of the EEC should have found it logical to embark upon the road to an El'1U - "p=vided the political will to do so existed". Thus, they had become highly integrated and were conducting half their trade with each other. Then, there was the desire to integrate still further ---- eventually leading (perhaps) to a political union.

by Peter Coffey This is indeed a most opportune time for the publication of a serious, critical and independent study about the "Main Economic Policy Areas of the EEC". The European Economic Community is the world's most import­ ant commercial and trading bloc and its economic policies consequently have the most far-reaching implications for all countries in the world. The rest of the world is acutely conscious of the Community's trading policies. In turn, these policies (apart from those based on historical links - ante­ cedent to the EEC's formation) are strongly influenced by the internal economic policies of the Common Market - especially by the Common Agricultural Policy (CAP). At the present time, the Community finds itself, both in­ ternally and externally, at a crossroads. This crossroads takes the form of a choice between 'protectionism' or 'open­ ness'. Unfortunately, present evidence suggests that currently and in the immediately foreseeable future the former option has been chosen by the EEC.

The European MJnetary System (EMS) is perhaps the only success story of the Common Market since the First Enlargement. Its success, particul- arly where the conmercial use of the EO] is concerned, has taken nost experts by surprise. So Irn. lch so, that when the author tried to recamEIld to his students a suitable and substantial w::>rk of study and/or reference about the experience of the EMS and its possible future evolution --- no book could be found. Thus, the author set out to write the present w::>rk. The author's aim is not to give a historical account of the EMS. Rather, the intention is to place the experience in a rrajor historical context wherein the System is seen an irrpJrtant transitional phase on the road to the ~lementation of a full economic and rronetary union (EMU). When examining the earlier plans for an EMU which Si3!N the light of day between 1969 and 1970 (already so long ago:) clear reasons emerge why the original six founder Member States of the EEx::: should have found it logical to embark upon the road to an EMU - "provided the political will to do so existed". Thus, they had beCOIre highly integrated and were conducting half their trade with each other.Then, there was the desire to integrate still further ---- eventually leading (perhaps) to a political union.