Suchergebnisse

AbstractA financial activities tax (FAT) and a financial transactions tax (FTT) are the main alternative ways of recouping some of the public money used to bail out the financial sector after the great crisis of 2007–08. In preparing a common proposal for the European Union, the European Commission initially appeared to favour the FAT, but then swung its weight behind the FTT in late 2011. Its rationale was that in addition to generating revenue, this tax could also help to stabilize the financial markets by curbing excessive speculative trading. This article takes a different position. Its central argument is that the FTT would amplify rather than dampen market instability by interfering with the functions of important financial institutions. Its chief conclusion is that the FAT is superior to the FTT.

Labour market institutions in most European countries are caught mid-stream between flexibility and coordination. On the one hand, most countries fail to capture the positive externalities that may arise from the mutual interdependence of institutions and ground level labour market behaviour. Productive and commercial changes make it exceptionally difficult to create such coordination arrangements. At the same time, there has not been a widespread rejection of labour market institutions. This can be seen in the cautious and pragmatic manner with which most European countries approach the themes of flexibility and deregulation. The common pattern has been to mesh flexibility and regulation. Thus whilst institutions still matter their role should not be overstated. In many ways, a governance gap is emerging in the European labour market.

ABSTRACTThe market orientation of the 1992 European Community programme has given way to a range of other projects involving institutional integration. Issues such as European Monetary Union and the EC Social Charter now dominate the Community's policy agenda. Inducing this shift from 'negative' to 'positive' integration was a growing realisation that institutional interventions are required to secure and coordinate the integration process. This paper examines the nature of the EC Social Charter as a positive coordination mechanism. First the controversies surrounding the adoption of the Charter are outlined. Then an appraisal is made of how the clauses of the Charter' accompanying action programme and recently published draft Directives affect existing national systems of labour market regulation. The conclusion is that although the Charter does not constitute a move towards a harmonised employment regime, it is a serious attempt to bring about greater coherence in Community labour markets.

Examines its potential role in changing labor conditions towards a harmonized employment regime.