Europe’s future after the European Council of June
2007 was discussed by a panel of distinguished economists
at a recent CESifo conference. After the constitutional
process was hindered by the referenda in
France and the Netherlands, the Council has reached
an agreement over a treaty that might serve as a substitute
to a constitution for Europe.While this treaty
has been signed at the recent Lisbon summit, its
implications for policy making in Europe is open for
debate.Whether the Constitutional Treaty is a major
breakthrough which will bring back momentum to
European policy or whether further political steps
will be necessary was discussed by five competent
participants. Massimo Bordignon chaired the panel
and gave an introductory overview of the major elements
of the agreement. This introduction was followed
by brief statements by the panellists on their
individual assessments of the agreement.ô