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The EU and the Political Economy of Transatlantic Relations

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Edited By Finn Laursen

Transatlantic economic relations remain extremely important for the European Union as well as for other countries in the world. When it comes to trade and foreign direct investment, the EU and the United States remain arguably the world’s most powerful actors, despite the financial crisis which started in the United States in 2007 and subsequently spread to Europe and to the Eurozone in particular. This crisis has created great economic strain on both Europe and North America, with politicians trying to muddle through and disagreeing on which strategy to adopt. The dominance of the Atlantic countries in the global political economy is now challenged by new emerging powers, including the so-called BRICS (Brazil, Russia, India, China and South Africa). These countries have succeeded in keeping much higher growth rates than Europe and North America, although they too are now affected by the global economic crisis.
This book is focused on these issues as well as other issues in transatlantic relations, including competition and environment policy. Given the complex interdependence of transatlantic countries they need to work together to solve the issues that divide them.

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List of Abbreviations

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AC Andean Community ACN Andean Community of Nations ACP African, Caribbean, and Pacific countries ASEAN Association of Southeast Asian Nations ATC Advisory Technical Committee B2B Business to Business B2C Business to Consumer BoP Balance of Payments BRIC Brazil, Russia, India, China BSC Banking Supervision Committee CAFTA-DR Dominican Republic-Central America-United States Free Trade Agreement CAP Common Agricultural Policy CCP Common Commercial Policy CSDP Common Security and Defence Policy CERT Canada Europe Round Table for Business CETA Comprehensive Economic and Trade Agreement CFSP Common Foreign and Security Policy CO2 Carbon Dioxide CRTC Canadian Radio-Television and Telecommunications Commission CSA Canadian Standards Association CSD Civil Society Dialogue CUPE Canadian Union of Public Employees EBA European Banking Authority EBRD European Bank of Reconstruction and Development ECB European Central Bank ECHO European Community Humanitarian Office ECIP European Community Investment Partners ECJ European Court of Justice The EU and Transatlantic Economic Relations 14 ECODIR European Consumer Dispute Resolution ECOFIN Council of Economic and Finance Ministers ECU European Currency Unit EEAS European External Action Service EEC European Economic Community EFC Economic and Financial Committee EFSF European Financial Stability Facility EFSM European Financial Stabilization Mechanism EFTA European Free Trade Association EIB European Investment Bank EIOPA European Insurance and Occupational Pensions Authority EMS European Monetary System EMU Economic and Monetary Union ERM Exchange Rate Mechanism ESAs European Supervisory Authorities ESC Economic and Social Committee ESFS European System of Financial Supervision ESM European Stability Mechanism ESMA European Securities and Markets Authority ESRB European Systemic Risk Board ESRC European Systemic Risk Council...

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