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Faculty: Loukas Tsoukalis
The course is intended to familiarize students with key policy issues and choices at the European Union (EU) level from a political economy perspective. It will start with a brief historical background in order to identify those factors that contributed to the European success story during the second half of the 20th century. It will concentrate on the big crisis of European monetary union following the bursting of the international financial bubble of 2007-08, highlighting fundamental weaknesses of the euro construction and individual country failures. The crisis is testing the limits of the European integration model of joint management of ever increasing interdependence. It is linked to globalization as well as to underlying trends within national political systems. Has European integration reached the end of the road, and if so, does it matter and for whom? The course will conclude with alternative scenarios and strategies for the future.