The Prospect of a European Federation. How the Euro Crisis is Pushing the EU towards Federalism

    • IMG_6908
    • Presentation speakers
      • Marius Mitrache, Universite Paris-Est, Paris, France

    Abstract:
    Every crisis brings with itself an opportunity for change and reform.Ever since the beginning of the European construction, it always took a crisis to build the European edifice with its institutional architecture even further. As decades went by, Europe has passed many milestones to reach the current form of 27 member states. However, the 2008 recession seriously fragilized the European Union and questions about its future and functionality rose once again. The union that begin with the promise of a dream, started to look like a prison of austerity and For the past years, a plethora of European high-officials have claimed that federalism is the only way forward if the EU desires its survival. Since federalism becomes inevitable, the real question is what type of federalism will be adopted. For instance, the French type emphasizes financial solidarity cemented by Eurobonds, a banking union, and a common industrial policy. On the other hand the German type favors a tighter fiscal surveillance, and a common budget and harsher spending regulations. As for the British, they encourage deeper economical integration of the Eurozone, and the necessity of a Two-Speed Europe. The current crisis, made federalism an unavoidable milestone for the future of Europe. Nevertheless, the main debate of the coming years will be centered on the nature of this federalism. Will one vision prevail over the other, or eventually a combination of different types will shape the European Union for the next century. The aim of this paper is to outline the major federalist projects that are proposed today in the EU and which one is most likely to materialize. It will also deal with the role of the single currency, the restructuring of EU institutions, and the place its founding values will have in the sui-generis construction of a transnational federation.

 

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