By Svein S. Andersen, Andreas Goldthau, Nick Sitter
This ebook contributes to an ongoing debate concerning the ecu as an international actor, the organization’s skill to talk with one voice in power affairs, and the exterior size of the regulatory country. Investigating no matter if the strength Union quantities to a primary shift in the direction of Europe's new 'Liberal Mercantilism', it gathers high-level individuals from academia and the coverage global to make clear the altering nature of the EU's use of strength in a single of its most important coverage fields. It argues that the power Union epitomizes a metamorphosis within the EU’s method of coping with its financial strength. when the ecu continues to be devoted to a liberal method of foreign political financial system, it kind of feels able to advertise rules for the aim of augmenting its personal strength on the rate of others, particularly Russia. This edited assortment will attract political scientists, economists and effort experts.
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Additional info for Energy Union: Europe's New Liberal Mercantilism?
We will see later how and why it went more or less wrong. These landmark Conclusions had then to be translated into binding legal instruments and these were proposed by the Commission in July 2007, negotiated by the Council and the European Parliament during almost 18 months and finally adopted at the end of 2008 under the French Presidency of the Council. VINOIS months to reach an agreement with 27 Member States and was a major success. As usual, many compromises had to be reached which later will appear as weaknesses of the legal texts agreed upon.
Regional cooperation was very much encouraged to develop common solutions. European standards for infrastructure (the famous N-1 providing that in case of disruption of the main infrastructure for whatever reason, the remaining infrastructures should be able to compensate for the loss of supply) and for supply (with the obligation to protect households as long as possible) were made mandatory to ensure that sufficient alternative infrastructure would be available in case of a major disruption and that protected consumers would continue to receive supply during a certain period.
This European Agency is not a European regulator, like the European Central Bank has become in the banking sector as the result of the financial crisis. The THE ROAD TO ENERGY UNION 33 question is often put whether ACER should become such a European regulator. In the words of the European Council, it is “an independent mechanism for national regulators to cooperate” and it has the legal personality. Up to now, its role consists of issuing opinions and recommendations to TSO’s, to regulatory authorities and to the three European institutions (Commission, Council and the European Parliament).