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Nice Try

The Nice summit of December 2000 sought to improve the European Union’s decision-making rules ahead of Eastern enlargement. A new CEPR Report argues that it largely failed in this objective, but that the Treaty should be ratified nonetheless – it can be repaired at the next Intergovernmental Conference in 2004.

James Morgan, talks to Richard Baldwin

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Questions and Answers

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1. What are the biggest failures of the Nice Treaty? [James Morgan]
... Council of ministers reform, made things worse…failed on moving some decisions from unanimity to QMV…too many Commissioners after enlargement…also failed to adapt ECB to enlargement ... [Richard Baldwin]

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2.  Yet you say the Treaty should be ratified [James Morgan]
Non-ratification would delay enlargement…reform will be taken more seriously if ratified…we recommend two relatively easy emergency repairs ... [Richard Baldwin]

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3. How can the politicians get the necessary changes through? [James Morgan]
... Recognise need for efficiency…sometimes decisions will go against you but you have to trust the overall outcome will be favourable to you ... cooperation good for all ... [Richard Baldwin]

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4. What about the ECB numbers problem after enlargement? How does the ECB council agree? [James Morgan]
After enlargement there’ll be maybe thirty members ... impossible to agree rate changes ... must reduce the numbers ... [Richard Baldwin]

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5. How – delegation, representation or rotation? [James Morgan]
... Delegation…need to put someone there for a fixed term, insulate them and let them get on with their job…delegate to an expanded executive board ... [Richard Baldwin]

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6. You are concerned about the Balassa-Samuelson problem [James Morgan]
... Polish prices 40% lower than German because of cheaper services and food… they have to catch up ... adds to inflation but must be allowed to happen and incorporated in ECB inflation range ... [Richard Baldwin]

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7. So the ECB will change its range from 0-2% to 0-3% and that’ll look bad [James Morgan]
... New countries’ GDP is only 5% of present Europe GDP…have to explain it’s the sort of inflation central bankers shouldn’t try to stop [Richard Baldwin]

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8.  How confident can one be that governments will try to solve Nice problem when some might have wanted this outcome, one where big players benefit, the Council of Ministers and Parliament are sidelined? [James Morgan]
... Maybe the bad result came from putting two workable proposals together to make them unworkable…maybe it was all deliberate. But emergency repairs can be put in place at IGC in 2004. [Richard Baldwin]

Nice Try: Should the Treaty of Nice be Ratified? Monitoring European Integration 11 - Report Details

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The Nice summit of December 2000 sought to improve the European Union’s decision-making rules ahead of Eastern enlargement. A new CEPR Report argues that it largely failed in this objective, but that the Treaty should be ratified nonetheless – it can be repaired at the next Intergovernmental Conference in 2004 - Read more in "European Economic Perspectives"
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