The European Union (EU) and the Eurozone became the economic integration example to follow for years. However, the worldwide economic crisis that unfolded in 2007 put the whole economic integration process in question, the European project in jeopardy and the euro under pressure, with serious doubts that it can survive its first crisis.
The core argument of this book is twofold. First, it seeks to explain the difficult political, economic and fiscal idiosyncrasies of all member states in order to put the reasons for the economic crisis into a new and clear perspective. Second, it argues that the institutional response put forward to explain this tremendous crisis is flawed and dangerous because it does not solve the main underlying problem: the deep differences among member states on their understanding of economic and financial behavior. This study counters the leading institutional explanation for the economic crisis that has impacted the entire EU.
It presents a unique and provocative explanation of why the EU and the Eurozone are still immersed in an economic crisis and will be of key interest to students and scholars of European Politics and Economics.
PART I: HISTORICAL AND THEORETICAL INTRODUCTION TO THE EU
1: The European Union and the Eurozone: United We Stand, Divided We Fall
2: The Birth of the European Union and the Eurozone: History, Myths, Truths, and Lies
PART II: THE EUROPEAN UNION AND THE ECONOMIC CRISIS: THE CHALLENGE
3: The Economic Crisis: Political and Economic Problems
4: Fiscal Austerity or Government Spending
5: The Transatlantic Trade and Investment Partnership in Times of Crisis: The Euro and the Price of Crude Oil
PART III: EU COUNTRIES: DIFFERENT POLITICAL, SOCIAL, AND CULTURAL IDIOSINCRACIES
6: Germany: The Big Brother of the European Union
7: Spain: Before and after the Euro
8: Greece and the Battle of Ideas
9: The United Kingdom and Turkey: It’s Complicated
10: Trends in Migration between the EU and Africa: History and Challenges
PART IV: THE EUROPEAN UNION AND THE CHALLENGES BENEATH THE SURFACE
11: The Future of the European Union