Eurozone

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    A double bind: Cameron urges non-discrimination in one policy area, while wanting to discriminate in another

A double bind: Cameron urges non-discrimination in one policy area, while wanting to discriminate in another

The UK government has entered the final stages of its negotiations with the EU. The issues of immigration control and the refugee crisis seem to overshadow the debate. Yet, as Waltraud Schelkle points out, the “Dear Donald — Yours David” letter of Prime Minister Cameron to European Council President Tusk reveals that the other leading issue is financial integration in a European Union with […]

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    What a fair relationship between ‘euro ins’ and ‘euro outs’ could look like

What a fair relationship between ‘euro ins’ and ‘euro outs’ could look like

The relationship between Eurozone members and non-euro states has been cited by David Cameron as one of the key issues in his attempted renegotiation of the UK’s EU membership. Nicolai von Ondarza writes that while some actors have proposed stronger blocking powers for non-euro states, a far better arrangement would be to simply give these countries the power to […]

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Britain’s risky euro-out strategy

In his letter to Donald Tusk, David Cameron stressed the importance of Eurozone and non-Eurozone members being on an equal footing. Iain Begg argues that this request is problematic. Among the issues raised, he writes that it would be a mistake to think that the interests of the nine member states that are out of the Eurozone are closely aligned and that […]

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    The Eurozone crisis has deeply eroded the EU’s accountability structures

The Eurozone crisis has deeply eroded the EU’s accountability structures

The Greek referendum highlighted an accountability conundrum: if a Grexit would have significant consequences for the future of the Eurozone, who should be consulted? Mark Dawson writes that this dilemma points at a wider problem within the EU’s accountability structures, which are riddled with paradoxes. He argues that, at least in the economic field, no legitimate structure for ensuring […]

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    Rumours of the euro’s likely demise are greatly exaggerated

Rumours of the euro’s likely demise are greatly exaggerated

To what extent do the problems illustrated by the Greek debt crisis threaten the future of the Eurozone? Iain Begg writes that while the prospects for Greece continue to be deeply uncertain, the wider reforms that have been pursued across the Eurozone since the crisis still give reason for optimism about the future of the single currency.

Since 2009, when […]

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    The absence of national adjustment tools is the reason why Eurozone countries continue to struggle

The absence of national adjustment tools is the reason why Eurozone countries continue to struggle

The Eurozone continues to experience low growth, while unemployment remains a substantial problem in several European states. Alison Johnston and Aidan Regan write that despite these issues, the European policy response has remained broadly similar since the crisis: reducing public spending and imposing structural reforms in periphery states to try and improve their competitiveness. They argue that there are […]

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