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European Institute

European Affairs
c/o The European Institute
1001 Connecticut Avenue
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Washington, DC
20036-5531
Tel: (202) 895-1670
Fax (202) 362-1088
info@europeanaffairs.org
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Winter 2000 Volume 1 - Number 1
Leader in Focus
A New Leader for Europe?

Prodi on Europe
Romano Prodi,
President of the European Commission

The European Union is undertaking the biggest expansion in its history. It is as if the United States were to be enlarged to take in Mexico and the whole of Central America. The EU must reform its institutions so that it can function with up to 30 members, at the same time as it forges new common foreign and security policies. It will be a long, difficult, but intensely exciting, process.
European Integration
Europe's Single Currency: One Year On

The Euro as an International Currency
Eugenio Domingo Solans,
Member of the Executive Board, European Central Bank

One year after its launch, the euro has already established itself as the world's second most widely used currency. Its international use is bound to grow, but the EU will not thrust its new currency belligerently on the world economy. There is ample room for two leading currencies - the euro and the dollar - which do not need to be antagonistic to each other.

The Revolution in Europe's Stock Markets: A View from Paris
Alain Monod-Broca,
Advisor to the Chairman, Paris Markets, Inc.

New technology in Europe and the United States is enhancing competition, and should eventually lead to a consolidation of the European stock exchanges. Several major exchanges are working to harmonize market rules and to build a pan-European market for the most actively traded securities.
Special Report
NATO and the New Europe

NATO has defied predictions that it would not survive the end of the Cold War, but the Alliance now faces difficult new problems. They include learning the lessons of the crisis in Kosovo, deciding whether to admit more members in Central and Eastern Europe, and adapting to the European Union's new drive to create its own defense identity. In a special report on the Alliance at the beginning of the 21st century, five leading experts assess its chances of successfully meeting these new challenges.

US Leadership Is Still Essential - for Europe Too
Alexander Vershbow,
US Permanent Representative on the North Atlantic Council

The United States cannot expect to be a leader, or reap the benefits of a strong Transatlantic partnership, on the cheap.

The Transatlantic Link Remains Vital
Klaus Naumann (General Ret.),
former Chairman of the Alliance's Military Committee

Europe's efforts to play a greater, joint security role could help reduce the US defense burden, but it is not yet sure that the Europeans will muster the necessary political will.

The Alliance And The EU Must Work Together More Closely
Jamie Shea,
Spokesman and Deputy Director of Information and Press, NATO

There is now, for the first time, a chance of building a European political union that would actually strengthen the Alliance.

Importance of Shared Values in a Successful Half-Century
Gordon H. Smith (Rep. - Ore.),
Chairman, US Senate Foreign Relations Subcommittee on European Affairs

It is still just as important for NATO to defend the West's common values, in today's Europe, as it was during the Cold War.

How Cell Phones Drive Today's Diplomacy
James Dobbins,
Special Assistant to the President and Secretary of State for Kosovo and Dayton Implementation

Modern communications technology is quickening the pace of diplomatic initiatives and blurring some of the distinctions between the EU and NATO.
In The News
The Agricultural Challenge

As agricultural negotiations resume under the aegis of the World Trade Organization in Geneva, three prominent policymakers assess the chances of agreement between the EU and the United States, the key to any meaningful reform of world agriculture.

An American Perspective: Time to Put A Human Face on Farm Trade
Calvin Dooley,
US House of Representatives (D-California)

One way forward would be to define farm trade issues in terms of food security.

Two views from Europe: A Need for Better Transatlantic Understanding
Jean Glavany,
French Minister of Agriculture and Fisheries

The role of agriculture in protecting the environment, creating employment and maintaining food quality standards must be taken into account.

Social Role of the European Farmer Must Be Acknowledged
Karl-Heinz Funke,
German Federal Minister of Food, Agriculture, and Forestry

Europe must keep up a high level of agricultural production, even if it is not strictly justified economically.
Industry and Technology

Global Energy Policies Must Be Updated for the 21st Century
James Bond,
Director and Chair, Sector Board for Energy, Mining, and Telecommunications, The World Bank

Policy makers must resist "the urge and itch" to regulate the energy industry if they are to succeed in ensuring cheap, clean and reliable energy as the global industry enters a period of revolutionary change.

Connecting Through Smart Networks
Mark Bregman,
General Manager, Pervasive Computing Division, IBM Corporation

"Pervasive" computing will allow businesses all around the world to extend their reach to millions of new customers. It will change forever the way we think about the Internet and foster the emergence of a new information infrastructure that will be as easy to use as the telephone.
Opinion
Reconstructing the Balkans

Ten Principles for Balkan Recovery
Christiaan J. Poortman,
Country Director for Bosnia-Herzegovina, and Regional Coordinator for Southeast Europe, Europe and Central Asia Region, The World Bank

The reconstruction and development of Southeast Europe presents major opportunities, both for the region and for Europe as a whole. The Balkans must be progressively integrated into the rest of the continent.
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