The repositioning of the euro area in the world system: Political and economic dimensions
This article advocates a comprehensive approach to the current crisis in the Euro Area - and, namely, the joint consideration of the economic and political issues at stake. The European integration - whose greatest development is, to present time, the Monetary Union - is a political project...
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Economists' Association of Vojvodina
2014-01-01
|
| Series: | Panoeconomicus |
| Subjects: | |
| Online Access: | http://www.doiserbia.nb.rs/img/doi/1452-595X/2014/1452-595X1405571S.pdf |
| Summary: | This article advocates a comprehensive approach to the current crisis in the
Euro Area - and, namely, the joint consideration of the economic and
political issues at stake. The European integration - whose greatest
development is, to present time, the Monetary Union - is a political project:
a matter of will and action. Surely, this political project has a strong and
specific economic component. Still, it is political. Therefore, political
variables are critical. They must be included in any analysis of the
financial and economic circumstances, and they must be considered in any
strategy to overcome the current roadblock. The Euro Area has to cope, not
only with excessive indebtedness, fiscal unbalances and financial markets,
but also with the democratic restrictions to austerity and economic
recession, and with the democratic requirement to respect social rights, to
look for public support and to engage in political dialogue and compromise.
In liberal democracies, as ours, the employment, social protection,
citizenship and the right to believe and hope are full goals for the public
policies, including the economic and fiscal ones. |
|---|---|
| ISSN: | 1452-595X 2217-2386 |