After Brexit: Consequences for the European Union

438 Pages·2017·4.738 MB·English

by  Nazaré da Costa Cabral, José Renato Gonçalves, Nuno Cunha Rodrigues (eds.)

AFTER BREXIT
Consequences for the European Union
Edited by
Nazaré da Costa Cabral,
José Renato Gonçalves
and Nuno Cunha Rodrigues
After Brexit
Nazaré da Costa Cabral
José Renato Gonçalves
Nuno Cunha Rodrigues
Editors
After Brexit
Consequences for the European
Union
Editors
Nazaré da Costa Cabral José Renato Gonçalves
CIDEEFF - School of Law, Univ of Lisbon CIDEEFF, University of Lisbon School of
University of Lisbon Law - Faculdade de Direito da Universidade
Lisbon, Portugal de Lisboa
Alameda da Universidade - Cidade
Nuno Cunha Rodrigues Universitária
CIDEEFF, University of Lisbon School of Lisbon, Portugal
Law - Faculdade de Direito da Universidade
de Lisboa
Alameda da Universidade - Cidade
Universitária
Lisbon, Portugal
ISBN 978-3-319-66669-3 ISBN 978-3-319-66670-9 (eBook)
https://doi.org/10.1007/978-3-319-66670-9
Library of Congress Control Number: 2017955290
© The Editor(s) (if applicable) and The Author(s) 2017
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Acknowledgments
The editors are grateful to the leading scholars and experts in European
affairs that have contributed to the chapters of this book.
v
Contents
1 Introduction 1
Nazaré da Costa Cabral, José Renato Gonçalves, and Nuno
Cunha Rodrigues
Part I Brexit’s General Effects: The Future of the European
Integration Process 9
2 Brexit: Origins and Future Perspectives 11
Pompeo Della Posta and Scheherazade S. Rehman
3 Brexit and the European Union in the Context
of Globalization 35
José Renato Gonçalves
4 Brexit and the Future of the EU: Move Back or Move
Forward? 65
Nuno Cunha Rodrigues
vii
viii Contents
5 Brexit and the Risk of European Disintegration 83
Pauline Schnapper
6 A Qualitative Change in the Process of European
Integration 101
Annette Bongardt and Francisco Torres
7 Brexit and the Reform of Economic and Monetary
Union 129
Federico Fabbrini
8 Brexit as an Exceptional Change of Circumstance? 147
A. B. Menezes Cordeiro
Part II Brexit’s Sectorial Effects (I): Trade and Free
Movement of Goods and Citizens 165
9 Which Model for Brexit? 167
Michael Emerson
10 Economic Implications of Alternative Trade
Relationships: Post-Brexit Options for the UK 189
Mark Baimbridge and Philip B. Whyman
11 The Position of EU Citizens in the UK and of the UK
Citizens in the EU27 Post- Brexit: Between Law and
Political Constitutionalism 215
Samo Bardutzky
12 Post-Brexit Models and Migration Policies: Possible
Citizenship and Welfare Implications for EU Nationals
in the UK 245
Ioanna Ntampoudi
Conten ts ix
13 New Forms of Social Security for Persons Moving
Between the EU and the UK? 271
Yves Jorens and Grega Strban
Part III Brexit’s Sectorial Effects (II): Free Movement of
Capital and the Financial Markets 323
14 Free Movement of Capital and Brexit 325
Ana Paula Dourado
15 Free Movement of Capital: Could the CJEU Smooth
Brexit? 343
Marco Lamandini and David Ramos Muñoz
16 Policy Uncertainty and Spillovers into International
Financial Markets 351
Ansgar Belke
17 EU Financial Markets After Brexit 385
Karel Lannoo
18 H ow Brexit May Affect Banks’ Business Models
and the Financial System in the UK and EU:
Opportunity to Revitalise the Existing Banking
Structures? 397
Claudio Scardovi and Rabia Deniz Agaoglu
Index 421
Contributors
Mark Baimbridge is a Senior Lecturer in Economics at the University of
Bradford, UK. His main research area is the political economy of European inte-
gration focusing on monetary union and the UK-EU relationship. He has pub-
lished over 40 articles in journals, while his 16 books include: The Impact of the
Euro (Macmillan, 2000); Economic and Monetary Union in Europe (Edward
Elgar, 2003); Current Economic Issues in EU Integration (Palgrave, 2004);
Implications of the Euro (Routledge, 2006); Britain, the Euro and Beyond (Ashgate,
2008); The Political Economy of the European Social Model (Routledge, 2012);
Crisis in the Eurozone (Palgrave, 2015). During the late 1980s and early 1990s
he worked with various think tanks to co-author a series of publications that
initiated the critical examination of Britain’s membership of the EU, the ideas of
which are now central to the current debate.
Samo Bardutzky studied law in Ljubljana and Greifswald. In 2013, he obtained
his doctorate from the Faculty of Law of the University of Ljubljana, where he
taught Constitutional Law and European Constitutional Law and coordinated
a legal clinic for refugees and foreigners. After passing the Slovenian state exam
in 2009, he was a legal advisor to the Ministry of Justice of Slovenia. In
2012/2013, he was a Fulbright Research Scholar at the University of Michigan.
Since 2013, he works as a Postdoctoral Research Associate at the University of
Kent within an ERC-funded project on the role and future of national constitu-
tions in European and global governance. He was also a Teaching Fellow at
SOAS, University of London, School of Law, and Visiting Researcher at the
xi
xii Contributors
Walter Hallstein Institute for European Constitutional Law at the Humboldt
University of Berlin.
Ansgar Belke is a Full Professor of Macroeconomics and Director of the
Institute of Business and Economic Studies (IBES) at the University of Duisburg-
Essen. Since 2012 he is a (ad personam) Jean Monnet Professor. Moreover, he is
a member of the Adjunct Faculty Ruhr Graduate School in Economics (RGS
Econ) and visiting professor at the Europa-Institut at Saarland University,
Saarbrucken, and the Hertie School of Governance, Berlin. Ansgar Belke was a
visiting researcher at the IMF in Washington, DC, CentER Tilburg, CEPS
Brussels, IfW Kiel, DIW Berlin and OeNB Vienna. Furthermore, he was
Research Director for International Macroeconomics at the German Institute
for Economic Research (DIW), Berlin, and now is Research Professor at the
Centre for European Policy Studies (CEPS), Brussels. He is President of the
European Economics and Finance Society (EEFS) and a member of the
“Monetary Expert Panel” of the European Parliament, the Scientific Advisory
Council of IAW Tubingen, the Councils of “Arbeitskreis Europäische Integration”
(AEI), the “Institut für Europäische Politik” (IEP), the Executive Committee of
the International Atlantic Economic Society (IAES) and the Scientific
Committee of the International Network for Economic Research (INFER). He
is also a Research Fellow of IZA Bonn and CELSI (Bratislava), member of the
professional central bank watchers group “ECB Observer”, member of the
Bureau of European Policy Analysis (BEPA) Visitors Programme of the European
Commission, external consultant of DG ECFIN of the European Commission,
external consultant of the European Union Committee of the House of Lords
(UK) and he successfully conducted research projects on behalf of the German
Federal Ministries of Finance and of Labour and Social Affairs. He serves as
editor-in-chief of Credit and Capital Markets—Kredit und Kapital and
Konjunkturpolitik—Applied Economics Quarterly and as co-editor of International
Journal of Financial Studies, Empirica, International Economics and Economic
Policy, Journal of Economic Studies, Vierteljahreshefte für Wirtschaftsforschung,
Aestimatio—The International IEB Journal of Finance, E-conomics (Kiel Institute
for the World Economy), as editor of the book series Financial and Monetary
Policy Studies, Springer, and as co-editor of the book series Quantitative
Ökonomie, Eul Verlag. He has published widely in international refereed jour-
nals and other outlets and has regular appearances in the printed press and in
national as well as international TV broadcasts. He is ranked on the 11th place
of the research ranking of the Handelsblatt which incorporates 3600 German-
speaking economists. In the worldwide ranking of the largest bibliographic