The article discusses the incentives, economic effects and risks of the European Neighbourhood Policy (ENP). The ENP should support growth provided that integration with the EU internal market is concrete and wide-ranging. It should not endanger macro stability but involves two specific risks: over-regulation and fragmentation of the internal market.The article is organized as follows. Section I describes the ENP's historical and political context and the institutional mechanisms for its implementation. Section II is dedicated to presenting the constituent elements of the policy in the economic domain. Section III explains the potential growth-enhancing effects of the ENP. Section IV lists the expected economic impact across the 'four freedoms' of the EU internal market. Section V discusses the possible risks posed by ENP implementation. Finally, it recapitulates the main findings and draws some policy conclusions.-this article is based on the assumption that in the medium term most of them will participate in the ENP.The ENP's design draws from the experience of EU integration, including successive EU enlargements and from the history of relations with non-EU European neighbours. The approach rests on progressive political and economic integration of the NCs with EU policies as well as on increased social and Source: Commission (2006).

We assess a country's influence on decision-making in the Council not merely on the basis of the number of its votes, but based on a novel measure that also takes into account the voting behaviour of other countries. A country that is likely to receive support from other countries will be more influential than a country with more votes, but which tends to be isolated in its policy preferences. We apply the methodology to a novel dataset and use it to assess whether changes in voting weights in the Lisbon Treaty influence the odds of whether countries get what they want when decisions are taken in the Council. We show that large Member States are less successful in getting support from others for their positions, while the changes in voting weights increase large Member States' influence, but statistically significant decrease it only for a subgroup of small Member States.

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