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"With the resolutions of the Committee [of Political Reform] . " ; "Printed by order of the [Union League] Club for consideration at the January meeting." ; Mode of access: Internet.

The Stakes of European Integration By eliminating exchange rate uncertainty and achieving a unified European market, the single currency is an important step in the transition from the nation states of the nineteenth century to continental states. But along the steep path which leads to the common currency, the constraints become more acute and reduce the already narrow margins for national policies. The turbulent events which recently disturbed the EMS suggest that Europe is ahead in rhetoric but behind in action: words — concerted policies, economic and monetary union, coordination, solidarity — and facts — financing the reunification, determining interest rates — are diverging. To avoid the problem that one country's growth is achieved to the detriment of another's, a nominal anchor should be found: first, the EMS should be reconstructed, and then the exchange rate between the major currencies — the ECU, the dollar and the yen — should be controlled, so that a logic of growth may substitute for a logic of market shares. ; En éliminant l'incertitude de change et en achevant l'unification du marché européen, la monnaie unique est une étape importante dans un processus qui conduit inévitablement les modes de régulation économique à passer des états nation du dix-neuvième siècle aux états continents. Mais sur le chemin escarpé qui conduit à la monnaie unique, les contraintes deviennent plus précises et limitent d'autant les marges de manœuvre déjà faibles des politiques nationales. Les graves événements qui ont récemment perturbé le SME montrent que l'Europe est en avance d'un discours et en retard d'une action : les mots — acte unique, Union économique et monétaire, coordination, solidarité — et leschoses — financement de la réunification, détermination des taux d'intérêt — se sont mis à diverger. Pour éviter que la croissance des uns se fasse au dépens de celle des autres, il faut retrouver un ancrage nominal : d'abord reconstituer le SME, puis maîtriser les taux de change entre les grandes monnaies, ECU, dollar et yen pour qu'une logique de croissance se substitue à une logique de part de marché.

Cohesion policy was first instituted in 1988 to create economic convergence between the regions of the European Community so to provide them the capacity to equally compete in the Single Market. Since then, the policy has been reformed four times, and it is now conceptualized by the European Commission as the investment arm of the European Union. Many scholars have argued that the successive reforms have layered policy instruments upon policy instruments and that this has created living contradictions within cohesion policy. With this research, I aim at explaining how cohesion policy has evolved in the long-term. I will reconstruct the way in which cohesion policy changed in terms of eligibility rules, use of political conditionality, and its redistributive capacity. By using fuzzy set analysis, I will create a model that will allow me to measure the change both in kind and in degree in the period 1988-2013. In this way, I will be able to determine when and how policy change occurred. In the second part of the research, I will analyze the speeches made by the European Commission's key actors during three crucial reform processes (1988, 1993, 2013). I will focus on four distinct discourses that, according to the ideational literature on cohesion policy, may have a substantial role in driving the reform's debate. I will perform a frame analysis on an exhaustive set of speeches made by the President of the European Commission and the European Commissioner for Regional Policy in the 3 years period antecedent to the legislative process. The frame analysis will allow me to create saliency measures based on a coding scheme created for the analysis. I will then establish, through congruence testing, a) if the key actors' preferences are consistent with the policy change occurred in 1988, 1993 and 2013 b) how they conceive the reform process in relation to other policies of the European Union, Economic and Monetary Union in particular. In this way, I will be able to produce an original contribution both in the literature about cohesion policy and in the wider literature on European Integration.

The place and role of the EU horizontal policies in the framework of the EU common policies are explored. The theoretical and methodological basis of their formation and realization are revealed. Their importance for the proper functioning of the European Union and the realization of the main tasks of the EU at the present stage are analyzed. Cooperation between the EU and Ukraine in these areas is described in the context of the implementation of the Association Agreement.The EU's horizontal policies address five broad areas of economic and socio-political activity, including regional development, social progress, taxation, competition and environmental protection. All these common policies have already been involved in the stages of the customs union and the common market and must be constantly evolving in order to pursue further and higher goals – at the stages of economic and monetary union and political integration.Cooperation between Ukraine and the EU in the field of horizontal policies is carried out in the context of the implementation of the Association Agreement between Ukraine and the EU and is presented in SECTION IV «TRADE AND TRADE-RELATED MATTERS» (in particular, in Part 2 «State Aid» and Chapter 10 «Competition», in part 1, «Antitrust and mergers» (Articles 253–261), as well as in Chapter V «ECONOMIC AND SECTORAL COOPERATION» (in particular, in chapter 4 «Taxation» (Articles 349–354), in chapter 6 «Environment» (Articles 360–366) and in Chapter 21 «Cooperation on employment, social policy and equal opportunities» (Articles 419–425).Key words: common policies of the EU; horizontal policies of the EU; regional policy; social policy; tax policy; competition policy; environmental protection policy; Association Agreement between the EU and Ukraine. ; Досліджено місце та роль горизонтальних політик ЄС у системі спільних політик ЄС. З'ясовано теоретико-методологічні основи їх формування та реалізації. Проаналізовано їх значення для належного функціонування Європейського Союзу та реалізації основних завдань ЄС на сучасному етапі. У контексті реалізації Угоди про асоціацію охарактеризовано співпрацю між ЄС та Україною в цих сферах.Ключові слова: спільні політики ЄС; горизонтальні політики ЄС; регіональна політика; соціальна політика; податкова політика; політика конкуренції; політика охорони навколишнього середовища; Угода про асоціацію між Україною та ЄС.

After the financial crisis economies with existing deficits usually are in danger to go to default due to uncontrolled borrowing paces. All the members of the European monetary union have violated treaty limits on allowable budget deficits – some of the members have four times larger deficit. Such a development clearly suggests that some countries in European Union might become insolvent, since their net external debt is really large measure to the size of their economies. After financial crisis economies back to the recovery after a period of 3 or 4 years. Therefore economies are shrinking or growing rate is very slight. Due to these processes it is really big challenge to bring these deficits back to satisfactory level. Governments then have to go to the market and ask for additional debt to cover its deficit. These countries, if not aided, will possibly default and will be forced to restructure their debt. This argument is the reason why European Commission and prime ministers of European Union make a lot of play on discussions about present and future sovereign debt issues, not only regarding the certain countries, but the entire EU. The Italian finance minister Giulio Tremonti and Luxembourg's Prime Minister Jean-Claude Juncker, in an article which appeared in the Financial Times on 5 December, launched the proposal to issue the "European bonds". In this paper authors follow this idea and appeal to obvious arguments showing, that "European bonds" would be great cooperation to control Euro zone debt. Also authors consider "European bonds" as a tool to solve EU debt crisis and ensure future financial stability of all EU countries. The "European bonds" idea is not new. The first one goes back to Jacques Delors in the 1980s. Jacques Delors proposed the issue similar bonds in addition to European Investment Bank loans to finance infrastructure investments, so the initial idea was intended to provide a new debt instrument for financing pan-European infrastructures, but recently "European bonds" idea became the ...

Статья посвящена изучению роли международных политических институтов в интеграционных процессах евразийского региона. Автор рассматривает Организацию Договора о коллективной безопасности, Шанхайскую организацию сотрудничества и Организацию за демократию и экономическое развитие. В статье отмечена существующая проблема дублирования функций интеграционных объединений евразийского региона. Также автор приходит к выводу о том, что опыт, накопленный государствами евразийского региона в сфере военно-политического сотрудничества, необходимо использовать при формировании отдельных структур будущего Евразийского союза. ; The article is devoted to studying the role of international political institutions in the integration processes of the Eurasian region. The author examines the Collective Security Treaty Organization, the Shanghai Cooperation Organization and the Organization for Democracy and Economic Development. The problem of duplication of integration associations of the Eurasian region is noted in the article. Also the author makes the conclusion that the experience of the Eurasian region in the sphere of military-political cooperation should be used in the process of formation of individual structures of the future Eurasian Union.

"Geldregal bedeutet das hergebrachte Vorrecht des Staates, in seinem Hoheitsbereich die
offizielle Währung zu bestimmen und die gesetzlichen Zahlungsmittel in dieser Währung
zu schöpfen und in Umlauf zu bringen. Daraus erwächst dem Staat ein Geldschöpfungsgewinn. Dieser wird als Seigniorage bezeichnet. Die Seigniorage besteht in der Differenz zwischen den Produktions- und Bereitstellungskosten der Zahlungsmittel einerseits und ihrer Kaufkraft andererseits, die der Staat realisiert, indem er neu geschöpfte Zahlungsmittel durch öffentliche Ausgaben in Umlauf bringt. Vor der Währungsunion betrugen die Produktionskosten eines 1-Mark-Stücks 16 Pfennige.
Die Seigniorage, hier als Münzgewinn, betrug damit 84 Pfennige oder 84% abzüglich
der Verwaltungs- und sonstigen Transaktionskosten. Die Produktion einer deutschen
Banknote kostete durchschnittlich 15 Pfennige. Auch die Herstellungskosten für
die jetzigen Euro-Banknoten betragen im Durchschnitt 7–8 Cent pro Geldschein. Dabei
handelt es sich zumeist um 10, 20 und 50 Euro-Scheine (Figna 2004). Bei Banknoten ist
die Seigniorage also noch höher als bei Münzen, und bei unbaren Sichtguthaben am
höchsten, da die Herstellungskosten (nicht die Transaktionskosten) in diesem Fall nahe
null liegen – oder richtiger gesagt, sie wären es, würde dieses Geld durch Staatsausgaben in Umlauf gebracht und nicht, wie heute, durch Kredit der Zentralbank an die Banken bzw. der Banken an das Publikum." (Textauszug)

Calling into question the meaning of "independence" in contemporary central banking, the present article investigates the social origins and post-crisis persistence of the European Central Bank's (ECB) core macroeconomic model, despite broad acknowledgement of its failure to anticipate the financial crisis. We trace the making of the model; the process by which it became dominant in European central banking and beyond; criticism in the wake of its failure to predict the financial-cum-Eurozone crisis; and its persistence, nonetheless, in the crisis' aftermath. We argue that the formation, meanings, and persistence of the ECB's model cannot be understood as effects of the bank's independence or the model's intrinsic qualities. Rather, the model's trajectory is best understood in light of the ECB's transnationally embedded social location in international finance, professional economics, and European governing institutions. The necessity of calculating Europe, irrespective of the accuracy or predictive strength of the model being used, has less to do with the ECB's independence from domestic politics and more to do with its transnational embeddedness - or, stated differently, that the ECB is, in a sense, too embedded to fail.