IDEAS home Printed from
   My bibliography  Save this article

On the new economic philosophy of crisis management in the European Union


  • László Csaba

    () (Central European University and Corvinus University of Budapest, Budapest, Hungary)


This essay attempts to go beyond presenting the bits and pieces of still ongoing crisis management in the EU. Instead it attempts at finding the ‘red thread’ behind a series of politically improvised decisions. Our fundamental research question asks whether basic economic lessons learned in the 1970s are still valid. Namely, that a crises emanating from either structural or regulatory weaknesses cannot and should not be remedied by demand management. Our second research question is the following: Can lacking internal commitment and conviction in any member state be replaced or substituted by external pressure or formalized procedures and sanctions? Under those angles we analyze the project on establishing a fiscal and banking union in the EU, as approved by the Council in December 2012.

Suggested Citation

  • László Csaba, 2013. "On the new economic philosophy of crisis management in the European Union," Society and Economy, Akadémiai Kiadó, Hungary, vol. 35(2), pages 121-139, August.
  • Handle: RePEc:aka:soceco:v:35:y:2013:i:2:p:121-139

    Download full text from publisher

    File URL:
    Download Restriction: subscription

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item


    banking union; fiscal federalism; European Monetary System; supranationalism; supervision of banks;

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aka:soceco:v:35:y:2013:i:2:p:121-139. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Vajda, Lőrinc). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.