Scotland and International Trade Organisations

Feb 03, 2014 1 Comment

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One Response to “Scotland and International Trade Organisations”

  1. @paterson_b says:

    There is an interesting piece here on the current instability of the EU because the Lisbon Treaty commited the EU members to finacialization, and this is still being pursued even after the financial crisis. “The result of this assumption was the emergence and expansion of finance as an increasingly dominant sector of the European economy, over and above the knowledge-based and high-tech sectors it was supposed to support. This meant that far from enjoying innovation-driven growth, Europe has embedded a finance-driven regime in which rising financial speculation, financial employment and financial wages represent the key transformations of the 2000 […] The Lisbon Agenda is thus implicated in the financialization of the European economy because it provided the strategic direction for liberalization and integration of European financial markets. Such financial restructuring has not necessarily been beneficial, however; for example, it has led to growing inter-dependence between European countries, thereby increasing systemic risk as financial instability in one country can now quickly cross borders from one country to another […] With the end of the Lisbon Agenda in 2010 the EU created a new strategy called Europe 2020 (or EU2020). It aims to achieve “smarter, more sustainable and more inclusive” growth—or, something for everybody—but we’ll have to wait and see whether, like its predecessor, it creates more problems than it solves (Kean Birch Assistant Professor at York University< Canada)

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