Performance and Risks in the European Economy
European Integration between Equity, Efficiency and Welfare
Abstract: Throughout this article I tried to highlight the path for improving the Europeans standards of
living. Poverty, inequality and efficiency are the key concepts of the welfare economic. Similar to many other
articles about equity, efficiency and welfare, this article offers a n acc ount of the challenges facing the
European Union welfar e in a context of global economy assessing the ability of different c omponents of the
welfare governance to respond to these challenges. The welf are of European Union is analyzed under t he
multidimensional aspects of integration, such as: internal versus external integration and multilevel
integration. Aging, changes in the labor market, increased mobility are particular aspects that characterize EU
and under the fundamental reform of Europe 2020 Strategy, welfare economic becomes a priority even if the
political integration comes first to the economic one. As Europe gr ows more diverse, the welfare economic
translates from desire to necessity.
Keywords: enlargement; internal convergence; multilevel governance; Europa 2020 Strategy.
JEL Classification: I38; R13; R58.
European integration is a very long and complex process that is interested to be analysed in terms of
the effects on regional development and standard of living.
European integration process proves to be a permanent game between economics and politics. The
challenges produced by European enlargement over time, demonstrate that cohesion policy is an
important tool of EU in creating equilibrium between the internal convergence and the
On European integration path, the economic motivation turned to be adjacent to the political one so
that the rethinking of cohesion policy was carried out with aim of achieving and maintaining political
unity of Member States.
This article tries to argue the role of cohesion policy in designing the future of European Union.
2 Theoretical Approach of the European Union integration
European Union is a dynamic process that occurs in three sequential phases, which stimulate and
influence each other: enlargement which consist in the increasing of Member States, deepening which
refers to economic liberalization, common policies and rules for Member States and widening, in
terms of the scope of policy areas and freedoms (of movement).
The enlargement permanently redefines the map of EU and economic, social and territorial cohesion
become a moving target of EU integration. Since these three phases are not simultaneous, the effects
are delayed and are felt with different degrees of intensity.
At the same time, the globalization that is internationalization of business and finances, together with
the intense interconnection of Member States, generated by the Single Market achievement, as a proof
Senior Lecturer, PhD, Danubius University of Galati, Faculty of Ec onomic Sciences, Romania, Address: 3 Galati Blvd,
Galati, Romania, tel: +40372 361 102, fax: +40372 361 290, Corresponding author: email@example.com