Summary of The Future of the European Union

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Economists won’t find the solution to Europe’s debt crisis in extreme economic policies, says economist Michael Wohlgemuth. Evolving the European Union into a “United States of Europe” or dissolving it is unworkable. So where do the answers lie? The 27 member countries have different economies with disparate needs and challenges, making a “one size fits all” strategy unfeasible. This short, intellectual, though imperfectly edited, article examines the conundrum. You won’t discover the final solution in its pages, but getAbstract predicts that you may gain a better understanding of the complex issues.

In this summary, you will learn

  • How the European debt crisis is affecting the EU,
  • Why two proposed radical solutions are unrealistic and
  • Why a “one size fits all” strategy won’t work.
 

About the Author

Prof. Michael Wohlgemuth is an economist and the director of Open Europe Berlin.

 

Summary

Debt crisis in the European Union has prompted radical proposals from both ends of the economic policy spectrum. One side calls for a “United States of Europe,” a fiscal union that an EU finance minister would oversee. In theory, the minister would supervise EU taxes, pension plans and social security...

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