Will the euro crisis kill the single market?

Shahin Vallée, Waltraud Schelkle and Sebastian Dullien will discuss the impact of the recent crisis developments on Europe’s single market and how new integration initiatives alter the cost and benefits for countries such as Britain.


Shahin Vallée, Economic Adviser to President Herman Van Rompuy, European Council

Sebastian Dullien, Senior Policy Fellow, ECFR

Waltraud Schelkle, Senior Lecturer in Political Economy, LSE

Chaired by

Simon Nixon, European editor, Heard on the Street, Wall Street Journal

The euro crisis is threatening not only Europe’s common currency, but also the single market as we know it. Already, the euro crisis is fragmenting credit markets at national borders and transnational supply chains are breaking. Moreover, as the eurozone moves ahead with further integration measures, such as the single supervisory mechanism, discontent with the European Union is growing in non-euro countries such as Britain. This dissatisfaction increases the likelihood of a multi speed Europe but also the risk of an exit from the EU, which would weaken the single market significantly.

The panel will discuss the impact of the recent crisis developments on Europe’s single market, how new integration initiatives alter the cost and benefits for euro-out countries such as Britain and the risks and chances ahead.

Shahin Vallée is an Economic Adviser to Herman Van Rompuy, President of the European Council, working on economic and monetary affairs, macro-economic developments in the euro area, financial sector reform and country programmes. He used to be an Associate Fellow at Bruegel and worked at BNP Paribas where he occupied different roles within the research department.

Sebastian Dullien is a professor of International Economics at HTW Berlin and a Senior Policy Fellow at ECFR. From 2000 to 2007 Sebastian worked as a journalist for the Financial Times Deutschland, first as a leader writer and then moved to the Economics desk. Sebastian currently writes a monthly column in the German magazine “Capital” and is a regular contributor to Spiegel Online. He is the co-author of Decent Capitalism. A Blueprint for Reforming our Economies (with Hansjörg Herr and Christian Kellermann) and the author of several ECFR publications including Why the euro crisis threatens the European single market (2012).

Waltraud Schelkle is a Senior Lecturer in Political Economy at the London School of Economics. Dr Schelkle is also a (non-resident) Senior Fellow at the American Institute for Contemporary German Studies (AICGS), Johns Hopkins University, Washington D.C. and Chair of the Advisory Board of the Centre for Social Policy Research (Zentrum für Sozialpolitik) in Bremen.

Simon Nixon has been European editor of the Wall Street Journal’s Heard on the Street column since 2008. Before that, he was executive editor of financial commentary service breakingviews.com, City editor of The Week and a founder editor of Moneyweek. He has written for a wide variety of publications including The Spectator and Prospect. Before becoming a journalist, he worked for five years in investment banking.

This event is part of the Europe at the Crossroads initiative, a project aiming at looking at the state of the debate in the UK on the Euro crisis and the future of Europe. For more information, visit https://ecfr.eu/crossroads/home