Steering the Euro Across the Crises (2008–2019)

Fabio Masini

Chapter Chapter 4 in European Economic Governance, 2022, pp 75-119 from Springer

Abstract: Abstract Critiques from academics to the economic governance architecture of the euro area had been emerging also before the US-led financial crisis burst out. When the global financial crisis turned into a eurozone sovereign debts crisis, they transformed into pressing issues. This chapter dwells on the emergence and evolution of the current architecture of the European economic governance established after those two crises. It shows how increasing intergovernmentalism pushed towards even stricter fiscal rules, thus widening the gap between public sentiment and political decisions. We shall also follow the role of scholarly debates in suggesting compromises that might make the European economy more resilient and collective decision-making more effective in tackling both domestic and global challenges, until Covid-19 obliged to a suspension of fiscal rules and to a dramatic rethinking of the whole European economic institutions, policies, and governance.

Keywords: Crises; European economic governance; Euro-exit narratives; Intergovernmentalism (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-13094-6_4

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DOI: 10.1007/978-3-031-13094-6_4

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