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The Future of the Euro$
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Matthias Matthijs and Mark Blyth

Print publication date: 2015

Print ISBN-13: 9780190233235

Published to Oxford Scholarship Online: March 2015

DOI: 10.1093/acprof:oso/9780190233235.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 21 September 2021

European Integration Past, Present, and Future

European Integration Past, Present, and Future

Moving Forward Through Crisis?

(p.210) 10 European Integration Past, Present, and Future
The Future of the Euro

Craig Parsons

Matthias Matthijs

Oxford University Press

This chapter tests the claim that “European integration always moves forward through crisis.” After reviewing the historical record, the authors conclude that no major step in the EU’s institutional development responded in any clear way to a crisis. Rather, the major steps that led to today’s EU followed from a positive organizational project and a meeting of minds. The chapter further argues that while the EU suffered its first “real” crisis in 2010–2012, its response has been reactive, slow, ad hoc, and minimalist. And while the EU has made itself somewhat better able to respond to similar crises in the future, it has not actually addressed the euro’s underlying vulnerabilities. Successful projects of reform in huge political organizations rarely arise as technically necessary responses to crisis. The authors posit that only a positive vision of new goals will allow the EU to recapture a sense of forward movement.

Keywords:   European integration, history, EU, crisis, euro

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