European union economic diplomacy: The role of the EU in external economic relations

Abstract

The European Union (EU) is a central player in international economic diplomacy but how it goes about making decisions and negotiating is only poorly understood both inside and especially outside of the EU. The exact role of the EU is much debated. On some issues such as international environmental policy or trade - but not yet investment - policy the EU has aspirations of leadership. On other issues such as international financial and monetary policy including regulation of financial markets, the external policy of the EU is carried out by a combination of the European Central Bank with full legal competence for Euro monetary policy and the more or less coordinated actions by the Member States. In development policy the EU and its Member States taken together represent the largest donor community. In energy policy greater efforts to integrate the 'domestic' EU market go hand in hand with national policies on security of supply. The EU is thus clearly a complex actor in international economic relations. This book provides, in one volume, a comprehensive explanation of how the EU goes about decision making and negotiation in a number of topics central to international economic relations. © Stephen Woolcock 2012. All rights reserved.