| ID | 138206 |
| Title Proper | Europe's twin crisis |
| Language | ENG |
| Author | Cafruny, Alan W |
| Summary / Abstract (Note) | The crisis of the eurozone has accelerated processes of uneven development and political fragmentation in Europe. Once celebrated as a dramatic forward movement in European regional integration, the monetary union has evolved under German leadership into what has been aptly described as "eurozone fiscal colonialism." The Franco-German partnership - the motor force of integration since the early 1950s - has shattered amid Frances resentment of German-imposed fiscal rules and declining competitiveness. Germany's authority over the eurozone is virtually unchallenged. As the EU's response to the war in Ukraine vividly illustrates, Germany has now also emerged as the predominant political power in the EU. |
| `In' analytical Note | Russia in Global Affairs Vol. 13, No.1; Jan/Mar 2015: p.23-34 |
| Journal Source | Russia in Global Affairs 2015-03 13, 1 |
| Key Words | IMF ; OECD ; GDP ; Europe ; EMU ; Economic and Monetary Union ; German Power ; Crisis Management ; Twin Crisis ; Franco - German Partnership |