“Europa 2020”, nuovo governo economico e ri-regolamentazione finanziaria:incentivi o vincoli alla crescita?(“Europe 2010”, a new economic governance and financial re-regulation: incentives or constraints to growth?)


  • Mario Sarcinelli



Parole chiave:

Politica economica europea, Crisi finanziaria, regolazione finanziaria


Despite the launch of a new strategy for growth in Europe (the Europe 2020 strategy) and the ongoing efforts to design a new international financial architecture, prospects for an economic recovery of Europe remain dim. Public deficits and debts will have to be reduced at a faster pace, with contractionary effects unless a strong recovery of private expenditure will materialize. Financial re-regulation is projected to further depress the economy by imposing higher capital ratios, lower leverage, a late (though welcome) discipline of liquidity. The compound effect of the two policy trends pose a serious threat on the social sustainability of the European social market economy.




JEL: H6, F3, O52

Riferimenti bibliografici

AHTONEN A., DHÉRET C.(2010), "Is the new European strategy on target?", EPC, Challenge Europe, vol. 20, pp. 67-73.

ALESINA A. (2010), Fiscal Adjustment Lessons from Recent History, presentazione preparata per il meeting Ecofin tenuto a Madrid il 15 aprile 2010, disponibile online alla URL: http://www.economics.harvard.edu/faculty/alesina/files /Fiscal%2BAdjustments_lessons.pdf.

BALCEROWICZ L. (2010), Il fallimento degli stati sovrani nell’Unione Europea: Una prospettiva comparata, Lectio Marco Minghetti, IBL-Libri, Torino.

BANCA D’ITALIA (2010), Bollettino Economico – appendice statistica, n. 62, ottobre, Roma.

BANCA D’ITALIA (2010), Supplemento al Bollettino Statistico – Bilancia dei Pagamenti e posizione patrimoniale sull’estero, n. 54, ottobre, Roma.

BARBIER C. (2010), "De Lisbonne à Europe 2020: une nouvelle direction pour la stratégie économique de l’Union européenne?", Briefing paper, n. 2, Observatoire social européen, pp. 1-25.

BONGARDT A., TORRES F. (2010), "The Competitiveness Rationale, Sustainable Growth and the Need for Enhanced Economic Coordination", in "Europe 2020 – A Promising Strategy?", Intereconomics, n. 3, maggio-giugno, pp. 136-141.

ERIXON F. (2010), "The Case Against Europe’s 2020 Agenda", ECIPE Policy Briefs, n. 1, pp. 1-9.

ERIXON F. (2010), "The Europe 2020 Strategy: time for Europe to think again", European View, vol. 9, n. 1, pp. 29-37. Disponibile online alla URL: http://www.springerlink.com/content/n6124054p7258135/.

EUROPEAN CENTRAL BANK (2010), Introductory Statement with Q&A by Jean Claude Trichet, 4 novembre, Francoforte sul Meno.

EUROPEAN CENTRAL BANK (2010), "The ECB’s response to the financial crisis", Monthly Bulletin, pp. 59-74.

EUROPEAN CENTRAL BANK (2010), Reinforcing Economic Governance in the Euro Area, 10 giugno, disponibile online alla URL:http://www.ecb.int./pub/pdf/other/ reinforcingeconomicgovernanceintheeuroarea.pdf.

EUROPEAN COMMISSION (2010), Public consultation on the Europe 2020 Strategy, disponibile online alla URL:http://ec.europa.eu/dgs/secretariat_general/eu2020 /contributions_en.htm.

EUROPEAN COMMISSION [COM(2010) 367/2], Enhancing economic policy coordination for stability, growth and jobs – Tools for stronger EU economic governance, disponibile online alla URL:http://ec.europa.eu/economy_finance/articles/euro/ documents/ com_2010_367_en.pdf.

EUROPEAN COMMISSION [COM(2010) 250 final], Reinforcing Economic Policy Coordination, disponibile online alla URL: http://ec.europa.eu/economy_finance /articles/euro/documents/ 2010-05-12-com(2010)250_final.pdf.

EUROPEAN COMMISSION (Economic and Financial Affairs) (2010a), Interim Forecast – September 2010, disponibile online alla URL: http://ec.europa.eu /economy_finance/articles/ pdf/2010-09-13-interim_forecast_en.pdf.

EUROPEAN COMMISSION (Economic and Financial Affairs) (2010b), A new EU economic governance – a comprehensive Commission package of proposals, disponibile online alla URL:http://ec.europa.eu/economy_finance/articles/ eu_economic_ situation/2010-09-eu_eco.

EU COMMITTEE OF THE REGIONS (2010), Survey Your Voice on Europe 2020, disponibile online alla URL: http://portal.cor.europa.eu/europe2020/news/Pages/ Your Voice Contributions.aspx.

EUROPEAN COUNCIL (2010), Conclusions, Euco 25/10, 28-29 ottobre.

EUROPEAN POLICY CENTRE (2010), "Europe 2020: delivering well-being for future Europeans", Challenge Europe, vol. 20, marzo, pp. 1-113.

FORUM (2010), "Drivers and Impediments for Innovation in Europe", Intereconomics, Vol. 45, n. 5, September-October, pp. 264-286, disponibile online alla URL:http://www.ceps.eu/system/files/article/2010/10/264-286-Forum.pdf.

FORUM (2010), "Europe 2020 – A Promising Strategy?", Intereconomics, vol. 45, n. 3, maggio-giugno, pp. 136-170, disponibile online alla URL: http://www. intereconomics.eu/.

FSB (2010), Letter to the G20 Leaders – Progress of Financial Regulatory Reform, disponibile online alla URL: http://www.financialstabilityboard.org/publications/ r_101109.pdf .

G20 (2010), Seoul Meeting, 11-12 novembre, disponibile online alla URL: http:// www.seoulsummit.kr/outcomes.

G20 (2010), Gyeongju Meeting, 22-23 ottobre, disponibile online alla URL: http:// www.g20.org/index.

GOULARD S., BAILEY H. (2010), "Beyond the Open Method of Coordination", EPC, Challenge Europe, vol. 20, marzo, pp. 53-58.

GOVERNMENTS OF FRANCE AND GERMANY (2010), European Economic Governance – A Franco-German Paper, disponibile online alla URL: http://www.kas.de/wf/doc/ kas_20191-1522-2-30.pdf?100722171635.

GUERRIERI P. (2010), "Europa 2020 – Strategia per la crescita, l’UE ci riprova", AffarInternazionali, Newsletter, 22 giugno, pp. 1-3, disponibile online alla URL: http:// www.affarinternazionali.it/stampa.asp?ID=1486.

INSTITUTE OF INTERNATIONAL FINANCE (2010a), The Net Cumulative Economic Impact of Banking Sector Regulation: Some New Perspectives, Washington (DC).

INSTITUTE OF INTERNATIONAL FINANCE (2010b), Interim Report on the Cumulative Impact on the Global Economy of Proposed Changes in the Banking Regulatory Framework, Washington (DC).

INTERNATIONAL MONETARY FUND (2010a), Fiscal Monitor – Fiscal Exit: From Strategy to Implementation, Washington (DC).

INTERNATIONAL MONETARY FUND (2010b), World Economic Outlook – Recovery, Risk, and Rebalancing, Washington (DC), Chapter 3, pp. 93-124.

MORGAN J.P.(2010), Global Banks – Too Big to Fail. Big can also be beautiful, February, disponibile online alla URL: http://www.docin.com/p-44748761.html.

KAY J. (2009), Narrow Banking: The Reform of Banking Regulation, Centre for the Study of Financial Innovation, Londra, settembre, disponibile online alla URL: www.johnkay.com/ 2009/09/15/narrow-banking/.

KING M. (2010), Banking: From Bagehot to Basel, and Back Again, The Second Bagehot Lecture, Buttonwood Gathering, 25 ottobre, New York (NY), disponibile online alla URL:http://www.bankofengland.co.uk/publications/speeches /2010/speech455.pdf.

KOTLIKOFF L.J. (2010), Jimmy Stewart id Dead: Ending the World’s Ongoing Financial Plague with Limited Purpose Banking, John Wiley & Sons, Hoboken (NJ).

KUCLER DOLINAR M. (2010), "Multilevel governance within the European Union", European View, vol. 9, n. 1, giugno, pp. 97-103. Disponibile online alla URL: http:// www.springerlink.com/content/3u16264781328316/.

KUMAR M.S. Woo J. (2010) "Public Debt and Growth," IMF Working Paper, n. 10/174 Washington (DC).

LANNOO K. (2010), "Agenda 2020 and the Financial Crisis", in "Europe 2020 – A Promising Strategy?",Intereconomics, n. 3, maggio-giugno, pp. 156-159.

LEIPOLD A. (2010), "Good Governance for the Euro Area: Proposals for Economic Stability", theLisboncouncil, e-brief, vol. 08, pp. 1-11.

MASERA R. (2010), Reforming financial systems after the crisis: A comparison between EU and Us, mimeo, novembre.

METTLER A. (2010), "If Not Now, Then When? – Using Europe 2020 to Move from Crisis Management to Restoring Confidence and Growth", theLisboncouncil, e-brief, vol. 07, pp. 1-13.

NATALI D. (2010), "The Lisbon Strategy, Europe 2020 and the crisis in between", deliverable, n. 4, European Social Observatory, pp. 1-26.

POCHET P. (2010), "What’s Wrong with Europe 2020?", in "Europe 2020 – A Promising Strategy?",Intereconomics, n. 3, maggio-giugno, pp. 141-146.

RODRIGUES M.J. (2010), "From Lisbon to the Europe 2020 Strategy", EPC, Challenge Europe, vol. 20, marzo, pp. 45-52.

RODRIGUES M.J. (ed.) (2009), Europe, Globalization and the Lisbon Agenda, Edward Elgar, Cheltenham, UK and Northampton (MA).

ROTH F., THUM A.E. (2010), The Key Role of Education in the Europe 2020 Strategy, European Policy Centre, Brussels, ottobre, (CEPS Working Document, n. 338), disponibile online alla URL: http://www.ceps.eu/book/key-role-education-europe-2020-strategy.

SARCINELLI M. (2010), "Passata e futura regolamentazione per prevenire una crisi finanziaria sistemica", Moneta e Credito, vol. 63, n. 249, pp. 7-33.

SARCINELLI M. (2010), "Past and future regulation to prevent a systemic financial crisis", PSL Quarterly Review, vol. 63, n. 253, pp. 103-129.

SARCINELLI M. (2010), "La faticosa ricostruzione della finanza mondiale", AffarInternazionali, Newsletter n. 140, 21 luglio.

SARCINELLI M. (2010), "Economia e finanza mondiale: il ruolo del G20 dopo il vertice di Seul".AffarInternazionali, Newsletter n. 152, 26 novembre.

SARCINELLI M. (2009), "UEM ed Euro: i successi del passato e le sfide del futuro", Studi sull’integrazione europea, anno IV, n. 2, pp. 341-359.

SARCINELLI M. (2008), "L’Europa tra realtà effettuale, volontà popolare e opzioni politiche", Studi sull’integrazione europea, anno III, n. 3, pp. 495-512.

STAHL G., SPINACI G. (2010), "Europe 2020: multilevel governance in action", EPC, Challenge Europe, vol. 20, marzo, pp. 59-66.

TASK FORCE (2010), Strengthening Economic Governance in the EU – Report to the European Council, 21 ottobre, disponibile online alla URL http://www.consilium. europa.eu/uedocs/cms_data/docs/pressdata/eu/ec/117236.pdf.

THEODOROPOULOU S. (2010), Skills and education for growth and well-being in Europe 2020: are we on the right path?, European Policy Centre, Brussels, 22 October, (EPC issue paper, n. 61), disponibile online alla URL:http://www.epc.eu/ pub_details.php? cat_id=2&pub_id=1160.

TILFORD S., WHYTE P. (2010), "The Lisbon Scorecard X – The road to 2020", Centre for European Reform, marzo, pp. 1-101.

VAN RIET A. (2010), "Euro area fiscal policies and the crisis", ECB Occasional Papers, n. 109, aprile.

WOLF M. (2010), "Lamenti sospetti su Basilea 3", Il Sole-24 Ore, 15 settembre, p. 1.

ZULEEG F. (2010), "Europe 2020: better – but still not good enough", EPC, Commentary, pp. 1-2, disponibile online alla URL: http://www.epc.eu/.







Puoi leggere altri articoli dello stesso autore/i

1 2 > >>