Book contents
- The Crisis behind the Eurocrisis
- The Crisis behind the Eurocrisis
- Copyright page
- Dedication
- Contents
- Contributors
- Preface
- Acknowledgements
- Introduction The Elephant in the Room
- 1 There Is No (Legal) Alternative
- Part I The Crisis as a Crisis of the EU’s Identity
- Part II The Crisis as a Crisis of the EU’s Political and Democratic Legitimacy
- Part III The Crisis as a Crisis of the EU’s Economic Model
- Part IV The Crisis as a Crisis of the EU’s Social Character
- Part V Joining the Dots and the Way Forward
- 16 The European Crisis of Economic Liberalism
- 17 With Time to Prepare
- 18 Brexit and the Imperial Constitution of Europe
- Conclusion
- Index
17 - With Time to Prepare
Planning an Exit from the EMU
from Part V - Joining the Dots and the Way Forward
Published online by Cambridge University Press: 07 July 2019
- The Crisis behind the Eurocrisis
- The Crisis behind the Eurocrisis
- Copyright page
- Dedication
- Contents
- Contributors
- Preface
- Acknowledgements
- Introduction The Elephant in the Room
- 1 There Is No (Legal) Alternative
- Part I The Crisis as a Crisis of the EU’s Identity
- Part II The Crisis as a Crisis of the EU’s Political and Democratic Legitimacy
- Part III The Crisis as a Crisis of the EU’s Economic Model
- Part IV The Crisis as a Crisis of the EU’s Social Character
- Part V Joining the Dots and the Way Forward
- 16 The European Crisis of Economic Liberalism
- 17 With Time to Prepare
- 18 Brexit and the Imperial Constitution of Europe
- Conclusion
- Index
Summary
Two dates help place the eurozone crisis in historical time, even though historical events are almost impossible to delineate with great precision. The sharp phase of the crisis began in May 2010 as the Greek government was shut out of the international markets, and was forced to accept the country’s first bailout. By 2012 the sharp phase was over but the crisis continued for considerably longer, especially in the peripheral countries. In August 2018, a different Greek government, after fully submitting to the demands of the official lenders and completing the course of the bailout programmes, began to regain a form of regular access to the international markets. The eurozone crisis had been formally pacified.
- Type
- Chapter
- Information
- The Crisis behind the EurocrisisThe Eurocrisis as a Multidimensional Systemic Crisis of the EU, pp. 403 - 418Publisher: Cambridge University PressPrint publication year: 2019