After 21 consecutive quarters of positive evolution of the eurozone, one might think that the euro crisis is permanently over. But the eurozone has been playing with fire for too long. It has imposed policies with large economic and social costs, while ignoring fundamental and long lasting weaknesses in the design of the euro architecture.
The Come-Back of Portugal; Greece’s Attempt to Stand on its own Feet again; Macron’s Reform Proposals and Germany’s Lukewarm ResponseThe Come-Back of Portugal; Greece’s Attempt to Stand on its own Feet again; Macron’s Reform Proposals and Germany’s Lukewarm Response
Since the financial crisis erupted in 2008 the need for a Eurozone reform became obvious. The article discusses the creation of a European Monetary Fund (EMF) or the deepening of the Banking Union as possible solutions.
The outcome of the Italian election is another wake-up call. Former centre-left and socialist voters now are being caught by 'modern' populist parties who claim to defend citizens' rights and fight against a corrupt political class as well as social and economic injustice.
How to redesign the Eurozone in order to enhance its chances of survival? There are many alternatives that can and should be considered. A contribution on how to change the European Union's economic policy.
Is there still time to convince enough citizens, especially the young, to give their support to the European project, however bruised and battered it may look at the moment? What are the main challenges to be mastered if, at the end of the year, the European Union and its supporters will be able to look back with contentment, pride and relief and forward with confidence?