Intereconomics - Review of European Economic Policy

Intereconomics - Review of European Economic Policy

Volume 47, May/June 2012

The May/June issue of Intereconomics features a Forum that explores the issues related to the concept of green growth, with special attention given to the job creation potential of green growth strategies. Other articles in this issue include an evaluation of Eurobonds, leveraging the EFSF/ESM and a European Troubled Asset Relief Programme with respect to their potential power to solve the debt crisis, an empirical analysis of private consumption in the eurozone, and an Editorial focusing on the negative impact of the eurozone crisis on citizens’ trust in national and European government institutions.


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Green Growth

Green growth is a central theme of the international climate change negotiations. The Rio+20 Conference in June will concentrate on green growth as one of its main priorities. The Europe 2020 strategy has identified green growth as a fundamental pillar of EU economic policy. This Forum takes stock of the academic discussion and examines the theoretical and empirical underpinning of the concepts of green growth and employment through environmental policy.


Can Austerity Be Self-defeating?

Daniel Gros (Centre for European Policy Studies) questions that austerity could be self-defeating, in the sense that the resulting loss of output is so large that the debt-to-GDP ratio increases. His analysis shows that this might only be the case in the short run. Over the medium to long run, the debt-to-GDP ratio will improve, even if deficit-cutting reduces GDP temporarily. Rainer Maurer (Pforzheim University) argues against this position.

The debate will be continued at

The CAP in Disarray: EU Commission Proposes Basic Direct Payments to EU Farmers

The European Commission’s proposal to introduce changes to direct payments is based on the perception that a new rationale for these payments is needed. Nevertheless, the new justification is not convincing. Ulrich Koester (University of Kiel) identifies a number of problems related to the provision of basic income support through the granting of basic decoupled direct payments, as proposed by the Commission.

Economic Integration and the Structure of National Institutions

Phedon Nicolaides (European Institute of Public Administration) analyses institutional features national authorities should have in order to implement EU law and policy effectively. He suggests that benchmarking of the results of the application of common rules by the national authorities and comparative assessment of their performance can be more efficient than increased control.

Current Issue of Intereconomics Online


Responding to the challenge of energy transition under climate objectives provides a lever for breaking the Buridan’s donkey syndrome by indicating where to invest.

from Michel Aglietta and Jean-Charles Hourcade's Forum contribution Can Indebted Europe Afford Climate Policy? Can It Bail Out Its Debt Without Climate Policy?

About Intereconomics - Review of European Economic Policy

Intereconomics is jointly produced by ZBW - Leibniz Information Centre for Economics and the Centre for European Policy Studies (CEPS). The journal appears bimonthly and features papers by economists that deal with economic and social policy issues and trends in Europe or affecting Europe. To submit a paper for publication, please visit the Call for Papers section of our website for relevant information.

Intereconomics is published by Springer-Verlag Berlin Heidelberg.

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