- Preface
- New to this edition
- Brexit Late News
- List of figures
- List of boxes
- List of tables
- List of contributors
- List of abbreviations
- How to use the online resources
- 1. Introduction
- Part 1 The Historical Context
- 2. The European Union: Establishment and Development
- 3. From the Constitutional Treaty to the Treaty of Lisbon and Beyond
- Part 2 Theories and Conceptual Approaches
- 4. Neo-functionalism
- 5. Intergovernmentalism
- 6. Theorizing the European Union after Integration Theory
- 7. Governance in the European Union
- 8. Europeanization
- 9. Democracy and Legitimacy in the European Union
- Part 3 Institutions and Actors
- 10. The European Commission
- 11. The European Council and the Council of the European Union
- 12. The European Parliament
- 13. The Court of Justice of the European Union
- 14. Interest Groups and the European Union
- 15. Citizens and Public Opinion in the European Union
- Part 4 Policies and Policy-making
- 16. Policy-making in the European Union
- 17. Trade and Development Policies
- 18. Enlargement
- 19. The European Union’s Foreign, Security, and Defence Policies
- 20. The Single Market
- 21. The European Union’s Social Dimension
- 22. The Area of Freedom, Security, and Justice
- 23. Economic and Monetary Union
- 24. The Common Agricultural Policy
- 25. Environmental Policy
- Part 5 Issues and Debates
- 26. The Euro Crisis and European Integration
- 27. Brexit
- 28. The Future of the EU
- Glossary
- References
- Appendix—Brexit supplement
- References
- Index
(p. 387) Part 5 Issues and Debates
- Author(s):
Michelle Cini
and Nieves Pérez-Solórzano Borragán
This chapter discusses the European Union’s (EU) response to the euro crisis that emerged in late 2009, two years after the global financial crisis struck. It identifies the challenges this crisis has posed to the existing institutional set-up of economic and monetary union (EMU) and shows that it had a lasting impact on discussions over the EU’s future well beyond its most dramatic moments. A timeline of the euro crisis is provided and the main changes to the institutional framework of European economic governance at the time of writing are reviewed. The chapter considers whether the crisis was caused by a deficit of centralized decision-making and whether it has served, in turn, as a catalyst for deeper economic and political integration in the euro area and the Union more generally. The consequences of the crisis for the EU’s legitimacy are also explored from competing theoretical perspectives.
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- Preface
- New to this edition
- Brexit Late News
- List of figures
- List of boxes
- List of tables
- List of contributors
- List of abbreviations
- How to use the online resources
- 1. Introduction
- Part 1 The Historical Context
- 2. The European Union: Establishment and Development
- 3. From the Constitutional Treaty to the Treaty of Lisbon and Beyond
- Part 2 Theories and Conceptual Approaches
- 4. Neo-functionalism
- 5. Intergovernmentalism
- 6. Theorizing the European Union after Integration Theory
- 7. Governance in the European Union
- 8. Europeanization
- 9. Democracy and Legitimacy in the European Union
- Part 3 Institutions and Actors
- 10. The European Commission
- 11. The European Council and the Council of the European Union
- 12. The European Parliament
- 13. The Court of Justice of the European Union
- 14. Interest Groups and the European Union
- 15. Citizens and Public Opinion in the European Union
- Part 4 Policies and Policy-making
- 16. Policy-making in the European Union
- 17. Trade and Development Policies
- 18. Enlargement
- 19. The European Union’s Foreign, Security, and Defence Policies
- 20. The Single Market
- 21. The European Union’s Social Dimension
- 22. The Area of Freedom, Security, and Justice
- 23. Economic and Monetary Union
- 24. The Common Agricultural Policy
- 25. Environmental Policy
- Part 5 Issues and Debates
- 26. The Euro Crisis and European Integration
- 27. Brexit
- 28. The Future of the EU
- Glossary
- References
- Appendix—Brexit supplement
- References
- Index