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Progressive European Governance: How Eurobonds relate to European Integration

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FEPS Young Academic Network Policy Paper, Foundation for European Progressive Studies, Brussels, (April 2013)

Abstract

Mainstream discourse on the European financial and economic crisis seems stuck on the international divide between “core” and “peripheral” Eurozone countries, with the former advocating for more, the latter for less austerity. By contrast, the three authors of the FEPS Young Academics Tetwork believe that it is at least equally relevant to frame the contrast in political terms, i.e. between conservatives and progressives. The former increasingly advocate for a ‘singularisation’ of nations within Europe while (perhaps not without contradictions) the latter try to formulate ideas of solidarity. Solidarity is indeed fundamental, for it is a major political goal to make Europe and the Eurozone further integrate both as economic unities and as political as well as social communities. However, it should be recalled that ‘more Europe’ and therefore political solidarity would also bring about economic benefits. Thus, the aim of this paper is to highlight the interrelation of this dual order of benefits from solidarity – the community building and the strictly economic one – and the resulting double nature of the European debate, which seems at once highly technical and de-politicised as well as in the same time emotional and ‘over-politicised’.

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