The implosion of Greece's party political landscape and the victory of François Hollande in France transformed the political debate in Europe. Moreover, both events act as a catalyst for a political reinvention of the eurozone and an emergence of a transnational political space.
Since the beginning of the euro crisis, there has been much discussion of actual or potential German “hegemony” in Europe. But Germany's self-centeredness and short-term thinking disqualify it as a hegemon.
The European financial crisis has refocused the debate on the nature of Europe’s political union. Emma Bonino and Marco de Andreis make the case that a ‘lite’ version of federation may provide a viable and practical solution to the euro crisis.
The coming season of grand international summits means the problems of the Eurozone will once again be thrust upon the global stage. But at least this time European leaders don't have to worry about Silvio Berlusconi.
How does the Fiscal Compact shape fiscal policy and austerity in the euro area and what can be done to make austerity in Europe less brutal? The development of a meaningful 'Growth Compact' may provide the best way forward.
Examining the Fiscal Compact & the growth/austerity debate
Citizens across Europe are being asked to replace politics and economics with a sheer act of faith in austerity. But it's clear that they are starting to feel the need to stop this nonsense, and European leaders need to take this seriously.
The prospect of a victory by François Hollande may be causing nervousness in Berlin and elsewhere, but the socialist candidate in the French presidential elections is a natural compromise-builder, and Europe should have no real reason to fear his victory.
As France votes in the first round of its presidential elections, the French people have been denied an analytically, politically honest and comprehensive engagement by the politicians with the real issues at hand in France and Europe.
As part of the ‘Reinvention of Europe’ project, ECFR is publishing a series of papers on the national debates within EU member states about the crisis and the future direction of Europe. The second paper in the series examines the Czech situation.