The European Union and Achieving Peace in Ukraine

Giacomo Corneo

Peace Economics, Peace Science, and Public Policy, 2023, vol. 29, issue 4, 289-299

Abstract: The war between Ukraine and Russia does not only harm their respective populations: the rest of Europe is heavily affected. While some welfare losses for the EU are salient, the most significant one is not: it is the risk that the war escalates into a major nuclear conflict. A promising policy to minimize those losses exploits the desire of both Ukrainians and Russians to join the EU. I propose that they should if they immediately cease all fighting and subscribe to a distinctive, incentive-compatible, peace agreement brokered by the EU. Such an agreement would come at small costs to the EU, costs that would vanish in comparison to the risk of nuclear holocaust.

Keywords: Ukraine war; European Union; Nuclear risk (search for similar items in EconPapers)
JEL-codes: H56 H70 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1515/peps-2023-0055

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