Managing Change in an Era of Globalisation
Edited by Bernard Gazier and Frédéric Bruggeman
Chapter 15: Does Europe have Restructuring Policies?
15. Does Europe have restructuring policies? Claude Emmanuel Triomphe Although the construction of Europe can itself be seen as part of a global restructuring process, triggering far-reaching changes in society, the balance of power and the economic life of the continent as a whole, the question is, does Europe itself have a global view on restructuring and if so, is it equipped with the necessary tools to implement it eﬀectively? On this issue, current European policy may be the object of some concern. With the future in mind, it is worthwhile stepping back into and reﬂecting upon the origins of the Union itself and what it has, so far, been able to achieve. However, a detailed exploration of the European construction, its peculiarity, its heterogeneity, its complexity (as a result of institutional compromises), and of the nature of the Union – a community but not a nation, with high ambitions and limited competences, tools and resources – is outside the scope of this contribution. Therefore this chapter will consider some key historical, legislative, political and ﬁnancial developments. We ﬁrst examine how from its inception Europe developed a perspective on restructuring and which economic, ﬁnancial, legislative and social tools were used to engage with this process. We discuss the impact and fate of these instruments following the Amsterdam orientations and in the context of the challenges associated with both enlargement and globalisation (sections 1 and 2). We then review recent advances and limitations, and identify possible areas for progress (sections 3...
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