Dyskusja wokół kwestii konfliktu interesów między funkcją realizacji polityki pieniężnej a funkcją nadzoru bankowego wpływa na rozwiązanie instytucjonalne polegające na włączeniu lub niewłączaniu funkcji nadzoru do zadań banku centralnego. Z tego też względu przez wiele lat Europejski Bank Centralny (EBC) nie sprawował nadzoru w stosunku do instytucji kredytowych. Przy konstrukcji Europejskiego Systemu Banków Centralnych zwyciężyła koncepcja niemiecka całkowitego wydzielenia nadzoru z EBC. Gdyby nie kryzys finansowy lat 2008-2013, prawdopodobnie do dziś EBC nie sprawowałby nadzoru nad instytucjami kredytowymi. Pomimo utworzenia w 2011 r. Europejskiego Urzędu Nadzoru Finansowego dwa lata później zdecydowano się powierzyć EBC nadzór bankowy nad najważniejszymi instytucjami finansowymi na obszarze Unii Europejskiej. Trudno dziś rozstrzygnąć, czy połączenie polityki pieniężnej i nadzoru pod jednym dachem EBC było posunięciem korzystnym, dopiero za kilka lat będzie można ocenić, czy zwiększyła się efektywność nadzoru. ; The discussion involving the conflict of interest between the implementation of monetary policy and banking supervision influences the institutional solution to the question of the inclusion or non-inclusion of the supervisory function among the tasks of the central bank. Consequently, credit institutions were, for many years, left unsupervised. This situation would have probably continued until today, had it not been for the financial crisis of 2008-2013. Despite the appointment of the European Financial Supervision Office in 2011, supervision of the main EU financial institutions has recently been vested in the European Central Bank. Whether this decision was the right move will only be known in (the) years to come, when the effectiveness of this supervisionhas been assessed.
The monetary policy of NBP realized in 1990-2004 has deeply changed. On the one hand the changes were institutional, on the other one – they concerned modifications of the shape of monetary policy, either in its goals and strategies or in its instruments. Among the institutional changes the most significant were the changes of the acts on banking, made in 1989, 1992, 1997 and in 2001. Due to those changes, the realization of the monetary policy in Poland shall be assessed in two characteristic periods, different in qualitative features: 1990-1997 and 1998-2004. At the beginning the monetary policy, meant traditionally, was realized in accordance with the hierarchic structure of goals, so called triad of goals. Later, after coming into force of a new Act on Banking (1997) and appearing of possibility of joining the European Union, the monetary policy started to be realized according to the BCI conception. The paper deals with the critical analysis of the monetary policy realized in existing surrounding in both mentioned periods. ; Polityka pieniężna realizowana w latach 1990-2004 uległa głębokim przemianom. Z jednej strony miały one charakter instytucjonalny, a z drugiej - dotyczyły przeobrażeń kształtu polityki pieniężnej, tak w zakresie celów i strategii, jak i instrumentów tej polityki. Wśród zmian instytucjonalnych najistotniejszą rolę odegrały zmiany prawa bankowego, które dokonały się w 1989, 1992 i 1997 oraz 2001 roku. Stosownie do tych zmian realizację polityki pieniężnej w Polsce można oceniać w dwóch charakterystycznych, odmiennych pod względem cech jakościowych, okresach: 1990−1997 oraz 1998−2004. Początkowo polityka pieniężna, ujmowana tradycyjnie, realizowana była zgodnie z hierarchiczną strukturą celów, tzw. triadą celów. Następnie po wejściu w życie nowego Prawa bankowego (z 1997 r.) oraz w perspektywie członkostwa w Unii Europejskiej – zaczęto realizować ją zgodnie z koncepcją BCI. Artykuł przeprowadza krytyczną analizę polityki pieniężnej w obu tych okresach w kontekście istniejącego otoczenia gospodarczego.
Polityka pieniężna realizowana w latach 1990-2004 uległa głębokim przemianom. Z jednej strony miały one charakter instytucjonalny, a z drugiej - dotyczyły przeobrażeń kształtu polityki pieniężnej, tak w zakresie celów i strategii, jak i instrumentów tej polityki. Wśród zmian instytucjonalnych najistotniejszą rolę odegrały zmiany prawa bankowego, które dokonały się w 1989, 1992 i 1997 oraz 2001 roku. Stosownie do tych zmian realizację polityki pieniężnej w Polsce można oceniać w dwóch charakterystycznych, odmiennych pod względem cech jakościowych, okresach: 1990−1997 oraz 1998−2004. Początkowo polityka pieniężna, ujmowana tradycyjnie, realizowana była zgodnie z hierarchiczną strukturą celów, tzw. triadą celów. Następnie po wejściu w życie nowego Prawa bankowego (z 1997 r.) oraz w perspektywie członkostwa w Unii Europejskiej – zaczęto realizować ją zgodnie z koncepcją BCI. Artykuł przeprowadza krytyczną analizę polityki pieniężnej w obu tych okresach w kontekście istniejącego otoczenia gospodarczego. ; The monetary policy of NBP realized in 1990-2004 has deeply changed. On the one hand the changes were institutional, on the other one – they concerned modifications of the shape of monetary policy, either in its goals and strategies or in its instruments. Among the institutional changes the most significant were the changes of the acts on banking, made in 1989, 1992, 1997 and in 2001. Due to those changes, the realization of the monetary policy in Poland shall be assessed in two characteristic periods, different in qualitative features: 1990-1997 and 1998-2004. At the beginning the monetary policy, meant traditionally, was realized in accordance with the hierarchic structure of goals, so called triad of goals. Later, after coming into force of a new Act on Banking (1997) and appearing of possibility of joining the European Union, the monetary policy started to be realized according to the BCI conception. The paper deals with the critical analysis of the monetary policy realized in existing surrounding in both mentioned periods.
In recent years the euro area has been characterised by a very low rate of economic growth (in some years there was even a real reduction in the volume of production). This has launched a debate among economists about the instruments to be applied in public policy to bolster the economy. In this article the author analysed the possible effects of fiscal and monetary policy on economic growth when economic stagnation in the euro area is accompanied by a high level of public debt as a percentage of GDP and a very low level of the interest rates set by the central bank as well as market interest rates. On the basis of economic theory the author considers whether expansionary fiscal policy will contribute to the growth of real output, or merely enlarge the public debt and increase the risk of sovereign debt default and currency crisis. The author also introduced the concept of quantitative easing as an instrument of expansionary monetary policy.
The subject of this study is the evolution of British public policy between 1900 and 2010 with to the special focus on budgetary, monetary and social policy, as well as policy towards the public sector. This period was characterized by a steady, yet non-linear rise in economic and social activity of the state. Sudden increases were caused by one of three categories of events: wars, economic crises and changes at the highest levels of government. As a result, the history of British public policy in between 1900 and 2010 is divided into the following stages: 1) 1900-1931 - decline of the liberal era; 2) 1931-1951 - steady increase in the state's economic activity; 3) 1951-1979 - systemic stabilization at a high level of state involvement in economic and social issues; 4) 1997-2007 - attempt to return to economic liberalism; 5) 2007-2010 - a period of volatility and the search for new public policy principles.
The main purpose of the article is to assess the efficiency of the policy of economic stabilization, carried out by the EEC member states, and to distinguish the significance of particular instruments of fiscal and monetary policy in these countries. The article consists of two parts. The first part contains the presentation of some categories of the stabilization policy as well as two models of transmitting the impulses of the stabilization policy. The first is based on Keynesian and neoclassical assumptions while the other originates from monetaristic conceptions. The above models indicated main instruments of the stabilization policy, analysed in the second part of the article. The analysis has been carried out by means of the multistage regression method and the degree of "kindness" of correlation of equations has been measured by the corrected determination coefficient R2. The results of the analysis point out to: — the diversified character of national functions of reaction, — the stabilizing influence of the European Monetary System, — the eclectic character of methods applied in the stabilization policy by the governments of the EEC member states. ; Digitalizacja i deponowanie archiwalnych zeszytów RPEiS sfinansowane przez MNiSW w ramach realizacji umowy nr 541/P-DUN/2016
The study investigates genesis of the European Union Social Policy and the changes in common social issue over the years. The European Union is not only economic and monetary integration, it is also unify the activities in the social areas. Integration endeavors are not only based on the European Union further enlargement to new members, but also are based on adoption of new regulations on social issues, with the need to enforce them by the Member States. EU regulations only of an economic nature, without social guidelines may lead to incomplete and unstable functioning of the European Union and Single European Market. Over the past decade, the process of European integration has intensified and included more issues and life areas, therefore the position of social policy has strengthen consistently. The increasing globalization and regionalization of economic and social life causes more important role for international institutions such as the European Union, in solving various social matters. European countries are more acutely affected by problems such as high unemployment, poverty, social exclusion and the progressive aging of the population. Consequently cooperation at EU level can lead to stop these processes and can find ways to eliminate the negative effects that appeared among the citizens of Europe.
The book by Luciano Bardi, Wojciech Gagatek, Carine Germond, Karl Magnus Johansson, Wolfram Keiser, Silvia Sassano, "The European Ambition. The Group of the European People's Party and European Integration" is the result of the six authors' cooperation and research on the evolution and activities of the Christian Democratic Group (CD) and then the European People's Party (EPP). It constitutes a contribution to a series of publications analyzing the evolution of the European political groupings and their unique influence on the politics and development of the European Union. In the first part of the work, Wolfram Keiser characterizes the genesis, nature and evolution of the CD/EPP Group. In this chapter, author does not shy away from showing the political and historical background of the decisions made by the EPP. In the second chapter we find an in-depth analysis of the impact that the EPP had on the development of further institutional reforms and preparation of the EU treaties, including an exceptional impact on the constitutionalization and strengthening of the position of the European Parliament (EP). Carine Germond in the third part analyzes the role of the Group in creating and conducting policy within the European Union. She chose four most important areas: economic and monetary policy, social, ecological/environmental and agricultural policy for her analysis. Chapter four offers considerations on the impact and shaping of another important sphere – the EU's external relations, including foreign security and defense, trade (including foreign trade), development policy and finally the EU enlargement policy. In chapter five, Luciano Bardi deals with the EPP from the perspective a political party and its influence on the development of the European party system. He placed the analysis of the EPP's position as a key actor on the European Parliament's party scene in the context of the EPP's role in relations with EU institutions, in the foreground with the EP, but also with the Commission and the European Council. The work is based on the analysis of program documents, election manifestos of one of the most important political groups at the pan-European level, which have still the greatest influence on political decisions made in the EU. It must be stressed, this is valuable and very interesting work, and the reader will certainly not be disappointed with this publication.
The Polish presidency in the Council of the EU has been determined by a financial crisis. However the question could be solved only by the Member States which belong to the Eurogroup led by its own President Jean-Claude Juncker and at the highest level by the Heads of States or Governments in the framework of the European Council. In addition a form of an international agreement was chosen as an instrument to introduce new solutions in the economic and monetary policy of the EU. Such a form is not foreseen in the Treaty on the European Union, in particular Article 48 TEU. In a doctrine it is called a "Schengen modus", then a way to reform the Union without a long process of ratification of an amending treaty by all the Member States. At the same time the Schengen modus may lead to a creation of different integration centers. All the above mentioned circumstances on the one hand have reduced a spectrum of the Polish activity and on the other hand indicated on a domination of an intergovernmental method, called by the Chancellor Angela Merkel a "Unions method", in the European governance. In this context provisions of the Article 12.3 of the Treaty on Stability, Coordination and Governance which allows the Contracting Parties, other than those whose currency is the euro to participate in discussions of Euro Summit meetings concerning competitiveness for the Contracting Parties, the modification of the global architecture of the euro area and the fundamental rules that will apply to it in the future, as well as, when appropriate and at least once a year, in discussions on specific issues of implementation of the Treaty, may be regarded as a certain success of the Polish presidency.
The mission of the European Community and later the European Union was to take all actions that reduce disparities in economic development among Member States and their regions. These objectives were achieved through creating a customs union, a single European market and economic and monetary union, and the introduction and implementation of trade, agricultural, cohesion, competition policies. The problem of obtaining financial resources that would allow the EU to fulfill the tasks assigned to it by treaties and other legal acts is inseparable from the functioning of the European Union. The EU needs to raise new own resources. In recent years there have been proposals for the introduction of new own resources in the form of a uniform VAT which would apply equally to all Member States and in the form of a tax on financial transactions. The principal disadvantage of the new methodology for calculating own resource based on VAT on supplies of goods and services, acquisitions and imports subject to the standard rate of VAT in each Member State is its complexity. Despite the efforts made, the abovementioned taxes still will not be typical own resource that directly supplies the budget of the European Union. They will still be transferred through state agencies or economic entities for tax on financial transactions and they will continue to be dependent on the systems and tax rates of each Member State.
The Eastern Partnership (EaP) is undoubtedly a key project of the European Union's eastern policy. It is being implemented by the EU in cooperation with six partner countries, three of which (Ukraine, Georgia and Moldova) are more committed to establishing integration ties with the EU, while others are more restrained. The article tries to show that the functioning of EaP is influenced not only by its direct implementers, but also by various external actors. The most important of these are global and regional powers such as Russia, the United States, Turkey and China, as well as international financial institutions (including in particular the International Monetary Fund) and, to some extent, the North Atlantic Alliance. Their positions towards the Eastern Partnership may take the form of opposition, support or ambivalence. The analysis carried out allows us to conclude that while the impact of these actors on the functioning of the Eastern Partnership should not be overestimated, it should not be underestimated, especially in the light of possible scenarios for the future.
Official Development Aid as an idea is an implement of assistance, a kind of redistribution of the global income on the governmental level. Nevertheless, it is also a source of influence and as a result peculiarly understood imperialism. The opposition between political vision and reality is the factor which backs up this thesis. Political plans and prospects of the EU aid policy, such as "The European Consensus of Development" or "The EU and Africa: Towards a Strategic Partnership", are concerned about supporting good governance and providing fair conditions of international trade. On the other hand, introducing this policy often, more or less, increases dependency of poor economies on the rich. It is also not eradicated from the European Union policy, for example in the case of the European Development Bank. However, EU development aid, coming to 49 billions euro, could be named munificent when compared to the United States. U.S. Official Development Aid amounts to only 0,19% of GDP, when the obligations confirmed by the government in a few declarations, among which is the Millennium Declaration of the United Nations, are about 0,7% of GDP. Secondly it is commonly shaped as an interrelated aid, which augment dependency of the recipient country. International institutions established in Bretton Woods, like International Monetary Fund and World Bank Group, have also a huge impact on the way of development of poor countries. There are a lot of groups of interest whose opinions are clear – above-mentioned institutions are the U.S. instruments of imperialism. It is caused by American predominance in these institutions and the line of policy which it supports. In the XXI century imperial aspirations are also present in recently developing countries – like China or Brazil. Changing roles in the system of international relations are now coming, creating a diffusion between clubs of rich North and poor, developing South. Leaders of development from developing countries are trying to build a strong position in relations with recipients of ODA. It is easier for them than for the West, mostly because of the lack of bad, colonial past relations. Their imperialism is not linked with history whatsoever, making their role of foreign relations easier to build up. Despite these cases of using development assistance in order to build up an imperium, there are a lot of non-governmental institutions whose perception of aid is beyond politics and burdens of imperialism. Best example of that is Grameen Bank – an institution founded by M. yunus, a Noble Prize winner. Its way of helping people is mainly intended to being unprofitable. There are a lot of ideas about how to describe development aid – more like a charity or kind of imperialism. Some aspects of business are desirable in ODA, partly because of increasing efficiency. It is economically proved that the return of capital in any way of benefit will strengthen willingness to providing aid. On the other hand, people are naturally liable to help and perform activities which do not give them any interest or gain. What is most interesting – nowadays developing countries are strengthening and they are evaluating theirs powers as equal partners of the rich, developed world. It comprises change in the system of international relations. Moreover United Nations should find a way of enforcing obligations of donors – like 0,7 percent of GDP for ODA to 2015. If the line of politics is steady, similar to current line, this goal will not be reached, so ODA will be more seen as a way of imperialism than help. In general, there are a lot of aspects of development which indicate that ODA is an implement of imperialism. On the other hand – some kind of interest improves the willingness of donors to provide aid. Besides that question – imperial or not – development aid is still increasing the number of people whose conditions of living are better because of ODA.
