Intereconomics - Review of European Economic Policy 50 years Intereconomics
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Newsletter – Volume 51,
July/August 2016

The July/August 2016 issue of Intereconomics focuses on the threats and opportunities facing Europe both in the present and in the coming years. Naturally, the spectre of Brexit hangs over proceedings, as the result of the referendum on June 23rd has sent shockwaves throughout the continent. Both our editorial and Letter from America address the issue, and the topic is referenced throughout the issue. Meanwhile, our Forum highlights the efforts towards a socio-ecological transition, where welfare goals are pursued hand-in-hand with environmental considerations. The current issue also includes new research on the refugee crisis, the Greek sovereign debt crisis, as well as a critical review of the European Central Banks quantitative easing programme.

We are also proud to announce our 50th anniversary conference, titled “New Growth for Europe – On Investment, Crisis Management and Growth Potential”. We invite you to join us on 10 October 2016 at the German Federal Ministry for Economic Affairs and Energy in Berlin. Presenters include Tito Boeri, Daniel Gros, Karl Whelan, Clemens Fuest, László Andor and many other top European economists.

Please follow us on Twitter at @intereconomics_ for updates, events and interesting economic findings.


50th Anniversary Conference

New Growth for Europe

The joint Intereconomics/Wirtschaftsdienst anniversary conference will seek to identify new sources of economic growth in Europe. What investments can be made now to foster future growth? What is the appropriate role for the state? Have the measures taken to combat the economic crisis opened new opportunities for European growth, or will they merely lead to further stagnation? How can Europe best exploit its economic potential? Following a keynote address by Tito Boeri, the conference will feature three sessions focusing on investments, post-crisis growth and growth potential. Separate sessions will be held simultaneously in English and German. The conference will conclude with a panel discussion (in English) on the future of European growth policies, which will be followed by an evening reception. flyer conference new growth for europe

Featured Topic

Europe's Path Towards the Socio-Ecological Transition

Beset by an unprecedented combination of challenges including globalisation, demographic shifts, high unemployment and climate change, Europe is in dire need of a new kind of growth and development strategy. The authors of this issue's Forum make compelling arguments for a socio-ecological transition. This will require the decoupling of non-renewable energy use from GDP growth, the reduction of income and wealth inequalities, and the encouragement of innovation that is not based on fossil fuel technology. Despite these challenges, the Forum presents an optimistic path forward for the continent and offers practical policy solutions.

Additional Highlights from the Current Issue

What May Not Happen in UKexit

New UK Prime Minister May’s dictum that "Brexit means Brexit" is meaningless, because Britain is not a state, let alone a member state of the EU. Brendan O'Leary argues in his "Letter from America" that the term "Brexit" does verbal violence to the double union of the UK, and that one of May's problems is that she cannot exit one union, the European, without damaging the two other unions that make up the UK. One creative compromise: England and Wales could leave the EU, while Scotland and Northern Ireland remain within both the EU and the UK.

On the Distribution of Refugees in the EU

In order to optimally distribute incoming refugees among all EU countries, Martin Altemeyer-Bartscher et al. have developed a distribution key that reflects differences in the costs of integration in the individual countries. In order to reach a political agreement, the key for distributing refugees should be complemented by compensation payments that distribute the costs of integration among countries. While the EU Commission’s proposed distribution key takes account of appropriate factors, it is unclear in terms of detail.

The Political Economy of Brexit: Why Making It Easier to Leave the Club Could Improve the EU

The UK exit from the EU represents a qualitative change in the nature of EU membership. Annette Bongardt and Francisco Torres recommend that countries with preferences that are too divergent for the Union to function properly should not be discouraged from invoking Article 50. With the eurozone having established itself as the de facto core of European (political) integration, the UK's preference for a stand-alone (and incomplete) economic union became untenable.


Quote of the Month is also true that member states can only hope to influence and shape globalisation if they work together. A sufficient convergence of preferences among member states is a precondition for more effective governance.


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 Submissions section of our website for relevant information.

Intereconomics is published by Springer-Verlag Berlin Heidelberg.

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Editorial Office

ZBW – Leibniz Information Centre for Economics
Neuer Jungfernstieg 21
20354 Hamburg, Germany

Phone: +49 (0)40 42834-306/307
Fax: +49 (0)40 42834-262


Centre for European Policy Studies (CEPS)
Place du Congrès 1
1000 Brussels, Belgium

Phone: +32 (0)2 229 39 11
Fax: +32 (0)2 219 41 51