The European Rescue of the European Union?
The Existential Crisis of the European Political Project
Edoardo Chiti, Agustín José Menéndez and Pedro Gustavo Teixeira (eds)
RECON Report No 19
ARENA Report 3/12, Oslo, February 2012
This report analyses the many dimensions of the existential crisis of the political project of European integration unleashed by the financial crisis of 2007-2008. The contributions to this volume consider the nature of the European crisis, and in particular, its manifold character – a crisis of the economic model, of the fiscal structure, of the financial sector and finally and foremostly, a deep political crisis. The causal roles played by the twin projects of the single market and of asymmetric monetary integration leading up to the crisis, and the erosion of the tax capacities of European states at the root of the financial troubles of the Sozial Rechtsstaat are also dealt with. The volume moreover contains the reprint of a classical text by Lionel Robbins on the political philosophy of market integration in Europe, which reveals a rather surprising streak in the thought of the LSE professor. It also includes the English translation of the ruling of the German Constitutional Court on the Greek assistance package of September 2011.