Excerpt
Excerpt
The Political Economy of the Euro Crisis. Jeffry Frieden, 2016, Paper. "The euro crisis has developed into the most serious economic and political crisis in the history of the European Union (EU). By 2016, nine years after the outbreak of the global financial crisis in 2007, economic activity in the EU and the Eurozone was still below its precrisis level. At this point, the joint effects of the global financial crisis and the euro crisis have caused more lasting economic damage in Europe than the Great Depression of the 1930s (Crafts, 2013). The political consequences have also been severe. Conflict among EU member states has threatened the progress of European integration, while polarization and unrest have unsettled domestic politics in a host of European countries." Link