Nearly ten years into the crisis, after the EU opted for austerity and deregulation, the member states are still looking for the way out. The repercussions include the rise of ultra-right wing political forces across Europe which feeds into the anti-European popular sentiment they cultivate. Exiting the EU has been gaining ground and will soon be the case for Britain. This represents a turning point in the history of the EU, against an ‚ever closer union‘.
Can the EU still be saved? This is a difficult question indeed. The White Paper on the Future of Europe produced by the European Commission details five scenarios. However, these tend to overlook inherent tensions in Europe, e.g. heightened insecurity relating to labour markets, the role of finance in the post-crisis era, and the rise of a subaltern class across Europe. The EuroMemorandum 2018 critically analyses recent developments in Europe and emphasises the strong need for alternative policies. The economic system imposed in the aftermath of the crisis must be changed through a shared European process. The future of European integration will depend on the deepening of democracy in the interests of stability, solidarity and social justice.
Almost 250 economists and social scientists from all over Europe and beyond have expressed their support for the EuroMemorandum 2018. More details and the full document can be found.
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