Environmental Policy Sustainable development a key pillar of the Lisbon strategy ‘meeting the needs of the present without compromising the ability of.

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Presentation transcript:

Environmental Policy Sustainable development a key pillar of the Lisbon strategy ‘meeting the needs of the present without compromising the ability of the future generations to meet their own needs.’ Highly regulated area of EU policy in order to avoid distortions of the single market Green member states (Germany, Denmark, Netherlands, Finland, Sweden) Amsterdam Treaty Environmental protection integrated into EU policies and activities Co-decision procedure Exceptions to EU rules

Environmental Policy Problems of enforcement Uneven implementation Commission relies on national governments for information Effects of 2004 enlargement International dimension EU party to international environmental agreements on behalf of member states Kyoto Protocol European Emissions Trading Scheme Conflict with United States

Turkey and Environmental Policy 70 billion euros spending necessary 40% of industrial plants have waste management facilities compared to 95% in EU. Waste production per person is 1,35kg, compared to 0,35kg. in Germany. According to recent UN report on Climate Change, Turkey’s emissions have increased 72% in 1990-2004, the fastest rate of growth in the world. Turkey not party to Kyoto Protocol.

Economic and Monetary Union One market one money European Monetary System (EMS) Mark the unofficial anchor Re-alignments Three stage approach Stage 1: free capital movement Stage 2: Launch of European System of Central Banks Stage 3: monetary union (irrevocably fixed exchange rates, transfer of monetary authority)

Economic and Monetary Union Gains from EMU? EU is not an optimum currency area. Criteria for Stage 3 Price stability Budgetary discipline Currency stability Interest rate convergence 1992-93 currency crisis Absence of realignments since 1987 Ratification crisis, currency speculation Mark increases in value, lira and pound weak Bundesbank unwilling to support weak currencies Lira devalues, Britain pulls out of EMS. EMS band widened to 15%.

Economic and Monetary Union Meeting the criteria Currency crisis strengthened political will in EMU Germany’s tight monetary policy Stage 3 postponed. European economic recovery mid-1997. Creative accounting Political will in worst performers Only Greece unable to meet

Economic and Monetary Union Managing EMU Two-tier system ERM II between participating and non-participating countries (15% margin) Sustainability Stability and Growth Pact International exchange rates Selection of ECB president Poor economic performance in Germany