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The European Policy Mix: Law and Order

In: Report on the State of the European Union

Author

Listed:
  • Jean-Paul Fitoussi
  • Fiorella Kostoris Padoa Schioppa

Abstract

The euro area triggered the launch of a yet-unheard-of economic policy architecture. Unlike a US-style monetary union, Europeans decided they did not need the federal financial clout that would allow them to carry out an effective redistribution policy between member states on a vast ‘European’ scale. With an upward limit of 1.4 per cent of European GDP, the Community’s budget does not allow — far from it, in fact — for far-reaching policies. Torn as it is between the Common Agricultural Policy (CAP) and structural funds, it finds it hard to make its mark on either agricultural revival or the realignment of poorer regions.

Suggested Citation

  • Jean-Paul Fitoussi & Fiorella Kostoris Padoa Schioppa, 2005. "The European Policy Mix: Law and Order," Palgrave Macmillan Books, in: Jean-Paul Fitoussi & Fiorella Kostoris Padoa Schioppa (ed.), Report on the State of the European Union, chapter 6, pages 139-174, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-00627-0_6
    DOI: 10.1057/9780230006270_6
    as

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