The European Union and the Eurozone under Stress | springerprofessional.de

Springer Professional

nach oben

2017 | Buch

Kapitel lesen Erstes Kapitel lesen

The European Union and the Eurozone under Stress

Challenges and Solutions for Repairing Fault Lines in the European Project

verfasst von: John Theodore, Jonathan Theodore, Dimitrios Syrrakos

Verlag: Springer International Publishing

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Wirtschaft"

Einloggen, um Zugang zu erhalten

Über dieses Buch

This book explores the political and economic issues currently challenging EU member states affecting both the core Eurozone and non-core states. It analyses and explains how its own economic, and political, relationships have been critically influenced by fierce competition from its rivals in other major global economies, as well as by the systemic weaknesses in the economic and financial model it created. The book provides insight into both the underlying and more immediate economic and social challenges created by: its post-2007 enlargement to 28 countries - excluding the Balkan remnants of former Yugoslavia; the nature of the regulatory regime centralized in Brussels, and the host of issues and critiques this fosters; its ‘open borders’ policy and precious guiding principle, crystallized in the Schengen agreement; security weaknesses exacerbated by increasing volumes of migration; and the ongoing debt crises as the greatest existential challenge to the EU project. Featuring interviews with high profile key players from inside and outside Europe the book will examine new and underlying stresses - political and economic - to guide a greater understanding of the EU plan.

Anzeige

Inhaltsverzeichnis

Frontmatter

1. Introduction

Abstract

In the introduction, we argue that the 2008–2009 global financial crisis has morphed into a Eurozone crisis since 2010, a migration crisis since 2015 and the political convulsions that culminated in 2016 with Brexit. The manifold crises of the social and economic order of Europe – and the political elites clustered at their apex – will therefore be at the heart of this book. As these obstacles are all deeply intertwined, potential solutions need to be based on a comprehensive approach. Was the creation of the Euro the crucial factor that provoked the EU’s perils? Or is it simply reflective of deeper institutional fault lines, economic issues and social and politics ills? In seeking to approach the European crisis as an integrated whole, this book draws on reflection vital for pursuing the ‘right’ remedies.

John Theodore, Jonathan Theodore, Dimitrios Syrrakos

2. Europe at a Crossroad

Abstract

In this chapter, we explore the key economic problems the European Union (EU) is facing, namely the crises of the Eurozone and its inability to promote economic growth in the wider Single Market. Here, we go back to the political and economic foundations of the Euro in the Maastricht Treaty, the creation of a ‘two-tier’ EU, and the background of the European debt crisis – with its epicentre in Greece.

John Theodore, Jonathan Theodore, Dimitrios Syrrakos

3. The Eurozone Debt Crisis

Abstract

This chapter deals with the debt crisis in further detail and the problematic austerity measures taken to contain it – most notably, the Greek bailout. It also explores the inherent problem of fixed exchange rate regimes in the European Monetary Union.

John Theodore, Jonathan Theodore, Dimitrios Syrrakos

4. EU Migration

Abstract

Here, we examine how the migration crisis has surpassed the economic turmoil of the Eurozone to become the European Union’s (EU’s) greatest existential threat. With the migrant crisis, the very boundaries over which free movement should be allowed are being debated – and even what can be meant by the ‘free’ movement or migration of peoples, both from without and within Europe and the EU.

The rising tide of anti-EU and anti-immigrant populism across the continent has made it clear that the problems of migration pose the greatest challenge and potential threat to the stability of the European project.

John Theodore, Jonathan Theodore, Dimitrios Syrrakos

5. Brexit and the Referendum Vote

Abstract

This chapter deals with the seismic impact of the Brexit referendum, and the consequences of the impending British exit – both for the nation and the EU as a whole. It looks at the growing mood of Eurosceptism since the ongoing Eurozone and migration crises of the region – coupled with a general discontent with an economic order perceived as rigged by business and political elites. Millions of UK (and EU) citizens have for a long time felt disenfranchised from both the political decision-making processes and the supposed benefits of globalisation; and, in tandem with this, voters of all major parties have grown ever more hostile towards the free movement of peoples. Brexit is discussed as a culmination of these forces, and its likely consequences are examined in detail.

John Theodore, Jonathan Theodore, Dimitrios Syrrakos

6. Brexit and the Economy

Abstract

The chapter looks at the economic impact of Brexit, both immediately and as hypothesized in the longer term. This is combined with a review of the state of the British economy since 2010. We look at the impact of the Quantitative Easing programme deployed by the Bank of England, the impact of the plunge in sterling since the Referendum and the issues surrounding low-negative interest rates.

John Theodore, Jonathan Theodore, Dimitrios Syrrakos

7. The EU and China, Russia and Security Strategy

Abstract

This chapter looks at relations between the European Union (EU), Russia and China - framed in terms of both trade and security. The relationship between China and the EU is explored in terms of the mutual commercial interests developed over a number of years. This is all in marked contrast to the EU’s relations with Russia. Europe has been dominated by Russia’s occupation of Crimea – for which the EU maintains a policy of economic sanctions – also Russia’s part in fuelling the crisis in Ukraine, and its military sabre rattling alarming the EU ‘Visegrad’ and Baltic States

John Theodore, Jonathan Theodore, Dimitrios Syrrakos

8. The EU, Taxation and the Multinationals

Abstract

This section analyses the EU’s relationship with the multinationals and its member states regarding corporate tax avoidance and tax evasion policy within the Single Market. Brussels is now taking a robust approach in leading the fight against tax avoidance by the world’s multinationals in an effort to stem the flow of tax revenues escaping to offshore tax havens within the EU.

John Theodore, Jonathan Theodore, Dimitrios Syrrakos

9. Conclusion

Abstract

In the light of the social and economic convulsions of the last decade, the project for a unified Europe has come increasingly under attack. Our analysis, however, bears out that the picture may be more complex than many suppose, that membership of the European club is still valued by most of the electorates of Europe and that the region has strengths to help endure its manifold challenges. We review the two key issues of the debt crisis and the ‘democratic deficit’, and look at the need, demands and possibilities for change.

John Theodore, Jonathan Theodore, Dimitrios Syrrakos

Backmatter

Titel: The European Union and the Eurozone under Stress
verfasst von: John Theodore
Jonathan Theodore
Dimitrios Syrrakos
Copyright-Jahr: 2017
Verlag: Springer International Publishing
Electronic ISBN: 978-3-319-52292-0
Print ISBN: 978-3-319-52291-3
DOI: https://doi.org/10.1007/978-3-319-52292-0

Weitere Formate
Fachgebiete
Bücher
Zeitschriften
Themenseiten
Jetzt Einzelzugang starten
Zugang für Unternehmen
Referenzkunden
SLX-Digitalkonferenz: Zukunftswerkstatt 2024