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The EU response to the eurozone crisis: Democratic contestation and the New Fault Lines in European Integration

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  • Glencross, Andrew

Abstract

This paper analyses the EU's response to the Eurozone sovereign debt crisis. It examines the background to the crisis and how the threat to the single currency taxed the decision-making capacity of the EU, while also exposing long-standing fears about an absence of democratic legitimacy. In particular, the paper reflects on the democratic credentials of the EU response, examining the important role that continues to be played by democratic politics at the national level. This role will continue to be important since this is the level at which enforcement of debt brakes will occur. In addition, the analysis highlights the political fault lines that became apparent, notably the North/South split and the separation between countries inside and outside the Eurozone. Consequently, the paper concludes that these fault lines will characterize the future of integration, thereby complicating the search for a consensus on how to complete the banking union or pursue a free trade deal with the US.

Suggested Citation

  • Glencross, Andrew, 2013. "The EU response to the eurozone crisis: Democratic contestation and the New Fault Lines in European Integration," Discussion Papers 3/13, Europa-Kolleg Hamburg, Institute for European Integration.
  • Handle: RePEc:zbw:ekhdps:313
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    Citations

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    Cited by:

    1. Daniele Schiliro, 2014. "Changes in Eurozone Governance after the Crisis and the Issue of Growth," International Journal of Social Science Studies, Redfame publishing, vol. 2(2), pages 110-119, April.
    2. Zeilbeck, Severin, 2015. "An investment initiative for fiscally constrained EU member states: The role of synergetic financial instruments," IPE Working Papers 58/2015, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    3. Haytham Y.M. Ewaida, 2016. "The European Crisis Without End: The Consequences of European Monetary Integration," International Journal of Business and Social Research, MIR Center for Socio-Economic Research, vol. 6(8), pages 15-30, August.
    4. Haytham Y.M. Ewaida, 2016. "The European Crisis Without End: The Consequences of European Monetary Integration," International Journal of Business and Social Research, LAR Center Press, vol. 6(8), pages 15-30, August.
    5. Selcen ÖNER, 2014. "Influential internal and external factors in German policy towards Turkey’s EU membership: more than ‘privileged partnership’; less than full membership?," Eastern Journal of European Studies, Centre for European Studies, Alexandru Ioan Cuza University, vol. 5, pages 93-116, December.

    More about this item

    Keywords

    Eurozone crisis; legitimacy; Fiscal compact; debt brakes;
    All these keywords.

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