INTERECONOMICS, Vol 47, No. 6 · November/December 2012

Authors: Michael Hudson, Jean-Christophe Bureau, Stefan Tangermann, Alan Matthews, Davide Viaggi, Christophe Crombez, Louise Knops, Johan Swinnen and Armin Steinbach

Editorial: Austerity’s Internal Contradictions

By Michael Hudson

Forum: The Common Agricultural Policy After 2013

By Jean-Christophe Bureau, Stefan Tangermann, Alan Matthews, Davide Viaggi, Christophe Crombez, Louise Knops, Johan Swinnen

In October 2011 the European Commission presented a set of legal proposals designed to make the Common Agricultural Policy more effective. Pending a debate in the European Parliament and the Council, approval is expected by the end of 2013. This Forum aims to identify the proposals' shortcomings and to offer suggestions for improvement which the Parliament and Council can work to implement. The authors pay particular attention to the future of direct payments, CAP greening and rural development, as well as to the change in the decision-making rules which grants the Parliament more authority over the process.

Article: Towards a European Recovery Programme for the Crisis Countries

By Armin Steinbach

Austerity measures alone will not suffi ce to generate the growth needed for recovery in
Greece, Portugal, Spain and Italy. A European Recovery Programme is necessary to stimulate
growth through structural reforms and fi scal stimulus. This contribution describes policy areas
where non-fi scal instruments are required to boost growth and identifi es fi elds where public
and private expenditures can generate signifi cant positive spillovers for the economy or pave
the way for new growth potentials.

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