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THE ECONOMIC SUMMIT AND THE EUROPEAN COMMUNITY

PASCAL LAMY

Bissell Paper Number Five
Centre for International Studies, University of Toronto
March, 1988

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V Conclusion

This brief overview of topics that have been on the agenda of every Summit and are always at the centre of the stage for the European Community has allowed us to look both at recent developments and at working methods.

This examination leads to several conclusions.

First, it shows quite clearly why there are eight participants rather than seven. The European Community is a full member, playing a leading role in areas that have been, and will remain, on the Summit's agenda. It is not there just to represent some other important European nations. It is there because it makes decisions and is formulating policies on the subjects concerned.

Second, the Summit process has shown itself to be most useful when it is giving guidelines and an impulsion to work that is being undertaken elsewhere in other bodies like the OECD, and the GATT. It is not a forum for making decisions on specific issues.

Third, both the Summit and the European Community are evolving rapidly as they learn progressively to manage interdependence. There are fundamental differences between them and their approach. but their parallel developments should be mutually supportive. Stronger and more integrated regional blocks are likely to positively contribute to a more stable global economy as it learns to manage multi-polarity. Canada's motto is "ad mare usque mare" An appropriate motto for the summits could be hanging together"; and for the EC "l'union de la force". In the future, Europe's increasing integration will imply a growing external role and on increased presence on the world scene. This will enhance its ability to contribute to the peaceful solution of world problems.

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