Europe’s moments of truth: wicked crises, good and badconsequences

Sonja Puntscher Riekmann

Chapter 3 in Structural Reforms for Growth and Cohesion, 2018, pp 21-31 from Edward Elgar Publishing

Abstract: How are the multiple crises haunting the European Union (EU) since 2008 to be interpreted? In particular, who are the actors wielding the power of interpretation and thus of framing policy-making? The focus here is on the financial and fiscal crisis. The chapter, first, discusses the problem of crisis definitions promoted by political and economic actors; second, it outlines how (controversial) definitions came about in the EU; and third, it describes the resolution mechanisms as a result of specific definitions. It argues in more abstract terms that crises, however ‘wicked’, open windows of opportunities not only for more integration but also for differentiation if not for disintegration. While Brexit is an instance of disintegration, the story of integration as deepening, while that of differentiation is still open.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2018
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