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Beyond the CrisisThe Governance of Europe's Economic, Political and Legal Transformation$
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Mark Dawson, Henrik Enderlein, and Christian Joerges

Print publication date: 2015

Print ISBN-13: 9780198752868

Published to Oxford Scholarship Online: March 2016

DOI: 10.1093/acprof:oso/9780198752868.001.0001

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Making the Euro Thrive for the Next 100 Years: What Is Needed, and What Is Missing?

Making the Euro Thrive for the Next 100 Years: What Is Needed, and What Is Missing?

(p.24) 3 Making the Euro Thrive for the Next 100 Years: What Is Needed, and What Is Missing?
Beyond the Crisis

Marcel Fratzscher

Oxford University Press

There is hardly a more controversial debate in Europe than that about the advantages, disadvantages, and future of the euro. Has the euro been a success? What role does it play in the current European crisis? What are the prospects for the future? This chapter addresses these questions, as they are essential for understanding whether we are on the right path of European integration and what policy‐makers should do. The chapter starts by analysing why the euro was created in the first place. It then discusses the experience of the euro in the first ten years of its existence and asks whether the euro is a culprit that shares responsibility for the European crisis. The final part of this chapter then analyses what Europe has to do to make the euro not only sustainable but also successful in the long run.

Keywords:   economic integration, euro, European crisis, European integration, European Union

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