Intereconomics - Review of European Economic Policy
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Newsletter – Volume 53,
July/August 2018

The July/August issue of Intereconomics is dedicated to various aspects of the Nordic Model of economic and social policy. We open this issue with an editorial on the EU's evolving refugee policy and the importance of cooperation. The articles in this issue cover a number of topics including the impact of the single currency on the EU, the development of natural gas transport routes in southeast Europe and the duration of the European Commission's Multiannual Financial Framework. Our Letter from America examines US President Donald Trump's fluctuating trade policy and his protectionist promise. We hope you enjoy this issue!

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

Featured Topic

What We Can Learn from the Nordic Model?

Considered role models for governance, equality, and social and economic policy, the Nordic countries rank near the top of every quality of living standard survey worldwide. The state welfare system, access to quality education and wage equality characterise the Nordic model and contribute to the countries' continued growth and prosperity. But they also face challenges due to ageing populations, increasing inequality and digitalisation. Roberto Iacono provides an overview of the Nordic model and looks at future challenges. Elise S. Brezis examines elitism in higher education and its impact on inequality. Mark T. Nance and Jack Daly use the closing of the Saab Automobile AB as a case study to examine structural change and crisis management in Sweden. Jonathan Perraton defines social corporatism and looks at the low levels of unemployment and inequality in the Nordic countries. And Johannes Tiemer highlights the distinguishing features of the Nordic model and offers ways to emulate their success.

Conference Announcement!

The 8th Annual Intereconomics/CEPS Conference on October 9: Economic Convergence or Divergence in the EU?

Intereconomics and the Centre for European Policy Studies (CEPS) invite you to join us for our 8th annual conference in Brussels, this year entitled: Economic Convergence or Divergence in the EU?

European integration has always been associated with the aspiration of upwards economic convergence. However, though accession of fast-growing member states in 2004 and 2007 gave positive convergence a boost, divergences, particularly of the EU's southern members, have appeared over the past decade. Moreover, there are mounting divergence pressures at a regional level. The conference will examine the process of EU economic convergence in its various forms and consider its driving factors.

How can we spot the crucial trends in convergence and how can they help us understand and stimulate the process? What roles do education, structural funds and regional factors play? What policy measures can the EU use to foster economic convergence and deter divergence in the coming decade? Representatives from the EU institutions, academic researchers, economists and other experts will debate these questions and offer their insights.

Join us on Tuesday, October 9 from 9am-5pm at the Centre for European Policy Studies in Brussels (Place du Congrès 1) and share your views on these important questions. For more information and to sign up, please visit

A Closer Look

Trump: Reckless Free Trader or Genuine Protectionist?

Which one is he? Edward Alden examines US President Donald Trump's trade stategy - which continued to change daily - or at least until our day of publication. Is Trump's strategy a tactical one, intended to wring concessions from trading partners or is he making good on his inaugural “America First!” pledge and abandoning the US's commitment to free trade that dates back to the 1930s? Will Trump stick with the tariffs he has imposed as the effects are beginning to be felt around the US or will he keep his promise to European Commission President Jean-Claude Juncker to eliminate tariffs all together?

Social Corporatism and Capital Accumulation: The Fate of the Nordic Model

The recent crisis of Anglo-Saxon capitalism has generated renewed interest in more cooperative national arrangements, partly in view of the relative resilience of Nordic economies, writes Jonathan Perraton. Nordic economies developed social corporatist coordinated wage bargaining systems that underpinned their economic performance, combining low unemployment with low levels of inequality.

A Neglected Aspect of the Debates on the EU Budget: Duration of the MFF

Ákos Kengyel examines the main advantages of a ten-year MFF including the stability and predictability it would bring to multiannual programmes, as well as its better alignment with strategic planning requirements. The ten-year MFF, Kengyel argues, would provide the opportunity to bring long-term strategy and policymaking in line with the budgetary cycle.


From the Next Issue

Forum: Trade policy: What are the Options for Europe?

with articles by Gabriel Felbermayr, Maria Dementzis and more

Macroprudential Risk Management Problems in Brexit

by Paul Welfens

A New Regulatory Paradigm for the Digital Sector in Europe

by Georg Serentschy


Quote of the Month

The case of Saab and Trollhättan shows one way that societies can harness the productive side of creative destruction while mitigating the harm it causes.


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