“If you want to make your dreams come true, the first thing you have to do is wake up.” ~J.M. Power
1. Does Europe Need a “European New Deal”?
(photo © European Parliament)
Europe is struggling under the continuous pressure of the economic and financial crisis. The French-German stewardship followed a strict austerity policy in order to reduce the huge amount of state deficit. Since the economic situation didn’t improve so far, an alternative way of crisis-handling emerged promising economic growth through investments. After the socialist victory in the French presidential elections, the question is still open whether the new French policy approach could generate economic growth. If the socialist-fashioned political leadership gains majority in most of the Member States, the whole European crisis management will turn to a completely new direction.
2. What is the Fate of the Euro?
(photo © EuImages of money)
The Euro is one of the most important symbols of the European Integration. If it failed, the whole integration would fail and Europe would remain only a free-change economic zone. Through the Golgotha of Greece, the weaknesses of the euro-zone came out (a monetary union without a fiscal union). Therefore, it is clear that no common currency is imaginable without some level of economic governance in the future. Nevertheless, Greece has chosen another way on the last parliamentary elections and it is highly questionable, if it could maintain the euro after the results of the upcoming new elections.
Comment: May I draw the attention to a legal aspect of the country’s potential leave from the euro-zone. Such a move would probably need the appropriate change of the primary law of the Union which would imply a formal Treaty change. This legal process would require a long and complicated procedure involving every Member States the outcome is questionable of.
3. What European Perspective Will the EU Give to its Neighbourhood (Balkan, Turkey and the Mediterranean Region, Eastern Partnership)?
(Official photo opportunity of the Eastern Partnership Summit, 30 September 2011 © President of the European Council)
There are several potential EU candidate countries in the Balkan region (not to mention the already in-door country Croatia). We may not forget that this region gave place to several bloody armed conflicts in the past (Srebrenica, Vukovar).
Turkey is another key-player for Europe who has been provided with a candidate status for a half century without having the real opportunity to join the EU in the near future. Turkey might serve as some kind of facilitator or focus point between the EU and the Arab Spring hit Mediterranean region.
Last, but not least the 6 countries of the Eastern Partnerships deserve special attention. We can find among them the last remaining dictatorship of Europe (Belorussia) and the most important power due its size – (Ukraine – see further details about the Tymosenko-case here). Nevertheless, the European or Asian future of these 6 countries is still pending since they are currently balancing between the EU and Russia.
I remain at your disposal.
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Related earlier updates:EU ZMK's Diary