BOOK
Breaking Up Is Hard To Do: Britain and Europe’s Dysfunctional Relationship
Patrick Minford | J. R. Shackleton | Philip Booth | Martin Howe | Philippe Legrain | David G. Mayes | Kristian Niemietz | Gwythian Prins | Séan Rickard | Martin Ricketts | Matthew Sinclair | Christopher Snowdon | Rachel Tingle | Roland Vaubel | Richard Wellings | Geoffrey Wood
(2016)
Additional Information
Book Details
Abstract
In the noise of the debate about the EU, it is rare for fundamental questions to be asked. For example, for what purposes should we have international institutions at all? Does the EU meet those purposes and, if not, is reform possible? This book considers these questions. An international team of renowned authors looks at each area of economic policy in which the EU has an interest, as well as at the governing structures of the EU, and asks what, if anything, the EU should be doing. In most cases, this is then compared with the status quo and against the possibility of Brexit in order to help the reader make a judgement, in each policy area, about which would be the best direction for Britain to take. As well as providing a fine contribution to the Brexit debate, the authors of this book provide a framework for evaluating the results of renegotiation together with a long-term programme for reform. The usefulness of this timely book will long outlive the referendum debate. The book asks – and answers – the fundamental questions that are rarely considered by the political classes.
Table of Contents
| Section Title | Page | Action | Price |
|---|---|---|---|
| _Ref337633482 | 138 | ||
| Ref_XBasel%3Areprcb | 272 | ||
| Ref_XGoodhartC%3Afisbsc | 273 | ||
| Ref_XTurnerA%3Aturnrr | 273 | ||
| Ref_XCihakM%3Acasebc | 273 | ||
| Table 1\tEstimates of tariff equivalents on manufactured goods resulting from all trade barriers (in per cent) | 123 | ||
| Table 2\tEffects of UK and EU tariff of 10 per cent on agriculture and manufacturing: percentage changes from base | 128 | ||
| Table 3\tA survey of costs from EU membership | 138 | ||
| Table 4\tKey European employment directives | 146 | ||
| Figure 1\tUK membership of international bodies | 75 | ||
| Figure 2\tLevel and composition of producer support in OECD countries | 121 | ||
| Figure 3\tHistory and reforms of the CAP | 169 | ||
| Figure 4\tScale and dependency | 171 | ||
| Figure 5\tEmissions intensity, Europe versus the US | 281 | ||
| The authors | xii | ||
| Foreword | xix | ||
| Summary | xxii | ||
| Tables and figures | xxv | ||
| 1\tIntroduction | 1 | ||
| Patrick Minford and J. R. Shackleton | 1 | ||
| Principles | 4 | ||
| Policies | 8 | ||
| Change has to come | 19 | ||
| References | 22 | ||
| 2\tAssigning responsibilities in a federal system | 23 | ||
| Martin Ricketts | 23 | ||
| Introduction | 23 | ||
| Public goods and interjurisdictional spillovers | 25 | ||
| Competition between jurisdictions | 30 | ||
| The race to the bottom | 33 | ||
| Conclusion | 36 | ||
| References | 39 | ||
| 3\tInstitutions for European cooperation | 40 | ||
| Roland Vaubel | 40 | ||
| The renegotiation | 40 | ||
| Which institutions does European cooperation require? A summary | 44 | ||
| Cooperation – for what? | 45 | ||
| The institutions of a common market | 47 | ||
| Institutions for joint policies regarding external and scale economies | 51 | ||
| Institutions for redistribution among member countries | 55 | ||
| Conclusion | 55 | ||
| References | 56 | ||
| 4\tBeyond the ghosts: does EU membership nourish or consume Britain’s interests and global influence? | 58 | ||
| Gwythian Prins | 58 | ||
| Economic measurements are insufficient to judge this question | 58 | ||
| How best to nourish British interests: two paradoxes | 58 | ||
| Why the EU and its fears are older than you think | 60 | ||
| The transforming consequences of the euro | 65 | ||
| The flaw in Europeanism | 67 | ||
| What the ghosts did | 70 | ||
| To the July crisis: the hollowing out of European politics | 71 | ||
| Gulliver and the balance of competences | 74 | ||
| Successful negotiation requires informed statesmanship | 78 | ||
| References | 79 | ||
| 5\tTransforming the UK’s relationship with the EU: the legal framework | 82 | ||
| Martin Howe | 82 | ||
| How to transform our relationship with the EU | 82 | ||
| How UK withdrawal from the EU would work | 83 | ||
| Renegotiation from within | 97 | ||
| References | 100 | ||
| 6\tFreedom of movement | 101 | ||
| Philippe Legrain | 101 | ||
| Why freedom of movement is the right policy | 103 | ||
| Why EU membership offers the best of both worlds | 113 | ||
| References | 115 | ||
| 7\tEvaluating European trading arrangements | 117 | ||
| Patrick Minford | 117 | ||
| What trade theory has to say about the EU customs union | 117 | ||
| The cost of EU protection | 120 | ||
| The CGE model | 124 | ||
| Considerations of ‘Brexit’ | 132 | ||
| What about a trade agreement with the EU? | 133 | ||
| Opposing views | 135 | ||
| Conclusions | 139 | ||
| References | 140 | ||
| 8\tUK employment regulation in or out of the EU | 142 | ||
| J. R. Shackleton | 142 | ||
| Europe’s reach | 142 | ||
| European law and the labour market | 145 | ||
| Why intervention? | 149 | ||
| European political economy | 153 | ||
| Would repatriation of powers over the labour market make enough of a difference? | 156 | ||
| A minimum level of regulation? | 160 | ||
| References | 161 | ||
| 9\tProspects for a reformed agricultural policy | 164 | ||
| Séan Rickard | 164 | ||
| Introduction | 164 | ||
| A politically driven policy | 165 | ||
| An inefficient and ineffective policy | 168 | ||
| Prospects for radical reform of the CAP | 172 | ||
| Visualising a reformed UK agricultural policy outside the EU | 175 | ||
| End piece | 180 | ||
| References | 180 | ||
| 10\tFreedom for fisheries? | 184 | ||
| Rachel Tingle | 184 | ||
| 1957–69: the conception and early development of the CFP | 186 | ||
| 1970–82: the establishment of common Community waters | 187 | ||
| 1983–92: the development of a fisheries management system | 191 | ||
| 1993–2002: the introduction of vessel licensing and effort controls | 195 | ||
| 2003–13: reform of the CFP | 196 | ||
| 2014 onwards: last chance for the CFP? | 201 | ||
| Appendix: the UK system for apportioning national fishing quotas | 204 | ||
| References | 207 | ||
| 11\tStuck in Brussels: should transport policy be determined at EU level? | 209 | ||
| Kristian Niemietz and Richard Wellings | 209 | ||
| Introduction | 209 | ||
| The aims of EU transport policy | 210 | ||
| Key policy initiatives | 211 | ||
| Economic impact | 212 | ||
| Centralisation versus competition and discovery | 220 | ||
| Regulatory scale as market discovery process | 222 | ||
| Conclusion | 226 | ||
| References | 227 | ||
| 12\tBank regulation: starting over | 229 | ||
| David Mayes and Geoffrey Wood | 229 | ||
| Banks and bank failures | 230 | ||
| Liquidity and the lender of last resort | 232 | ||
| Loss of capital in the nineteenth century | 236 | ||
| Banking in the twenty-first century | 238 | ||
| Size and structure | 240 | ||
| Incentives | 241 | ||
| Cross-border | 242 | ||
| Capital | 243 | ||
| Depositors | 244 | ||
| The EU response | 246 | ||
| Concluding remarks | 249 | ||
| References | 252 | ||
| 13\tYoung, single, but not free – the EU market for financial services | 253 | ||
| Philip Booth | 253 | ||
| Introduction | 253 | ||
| The regulation of insurance companies pre-1970 | 255 | ||
| The EU, the single market and free trade | 256 | ||
| The beginning of the end of mutual recognition and deregulation | 258 | ||
| From common market to single market, harmonisation and centralisation | 260 | ||
| Single market or free market? | 261 | ||
| The costs and benefits of uniform EU regulation | 263 | ||
| Other areas of EU financial regulation | 267 | ||
| Conclusion | 269 | ||
| References | 272 | ||
| 14\tBetter energy and climate policy | 274 | ||
| Matthew Sinclair | 274 | ||
| The problem | 276 | ||
| The EU response | 280 | ||
| Targets for emissions reduction | 281 | ||
| Emissions trading | 284 | ||
| Renewable energy subsidies | 286 | ||
| Green taxes | 287 | ||
| An alternative | 290 | ||
| Resilience | 292 | ||
| Adaptation | 292 | ||
| Technology | 294 | ||
| Conclusions | 295 | ||
| References | 297 | ||
| 15\tEU lifestyle regulation | 301 | ||
| Christopher Snowdon | 301 | ||
| Introduction | 301 | ||
| Competence and EU law | 302 | ||
| Ad hoc prohibitions | 307 | ||
| State-funded activists: pushing the envelope | 311 | ||
| Implications of a ‘Brexit’ | 312 | ||
| Conclusion | 314 | ||
| References | 316 | ||
| About the IEA | 320 |