Ανάρτηση Ερευνητικoύ Δοκιμίου no 03/26

Ερευνητικό Δοκίμιο no 03/26 με τίτλο "Draghi’s Report a Year Later: Beneficial but no Remedy for EU Challenges"

των  Γεωργίου Κ. Μπήτρου,  Αναστασίου Γ. Μάλλιαρη και Mark S. Rzepczynski.

Περίληψη

We assess Draghi’s report and find it lacking in two main areas. The first issue is that it over looks the fact that European citizens, and by extension European leaders, have chosen a political economy model that leans more towards socialism than the more liberal model found in the USA. An implication of this choice is that it incurs substantial costs in terms of competitiveness, productivity, and economic growth, because it does not align well with the processes of innovation and creative destruction, which in certain sectors are accompanied by the advantages of economies of scale and scope. The second issue is that the report fails to recognize that the EU's success has heavily relied on the principles of 'gradualism' and 'unanimity' among member states. However, these principles now hinder the EU's ability to swiftly adapt to shifts in international relations and trade that have occurred with force in the last year. In light of these considerations, we have concluded that the way forward for the EU is to pursue some form of “Federalism.” This would involve establishing European-level union in areas such as fiscal policy, defense policy, foreign policy, industrial innovation policy, and strengthening of the European Parliament, among other institutions.

O Γεώργιος Κ. Μπήτρος είναι Ομότιμος Καθηγητής Οικονομικών του τμήματος Οικονομικής Επιστήμης του Οικονομικού Πανεπιστημίου Αθηνών, ο Αναστάσιος Γ. Μάλλιαρης είναι Καθηγητής Οικονομικών στο Loyola University of Chicago και ο Mark S. Rzepczynski.είναι CEO and Chief Investment Officer at AMPHI Research and Trading.