Number: RS22468
Title: Europe: Rising Economic Nationalism?
Authors: Raymond J. Ahearn, Foreign Affairs, Defense, and Trade Division 
Abstract: Several members of the European Union (EU) over the past two years have been erecting barriers to cross-border mergers and acquisitions, possibly in violation of their Single Market commitments. The main focus of these anti-competitive actions, often dubbed economic nationalism or economic patriotism by the press, is on corporate control, particularly in the banking, steel, and energy sectors. Unlike in the 1980s, when the main opposition to creation of the Single Market for goods, capital, labor, and services came from companies resistant to being exposed to more international competition, the main opposition to liberalization today comes from some member state governments (and or politicians) fearful of losing national prestige and jobs as a result of merger activity. This report examines the nature and significance of rising economic nationalism, as well as how U.S. interests may be affected.
Pages: 6
Date: January 18, 2007