June 28th, 2012 - The European debt crisis is at a critical juncture and it becomes more apparent where the roots of this crisis are: a few European countries are facing the results of the global recession and the partnership among Euro member states is challenged. While Greece, Spain and Italy are needing more financial support and debating a potential departure from the Euro zone, world leaders such as Obama and Harper criticise the EU Commission to finally handle the crisis during the G20 summit. The European Commission is now under enormous pressure to come up with major reforms in order to rescue the Euro and, more broadly, the ambitious project of European integration. " The challenges that the European Union is facing are grounded in politics as much as economic. Do these issues illustrate the end of the Economic and Monetary Union and that perhaps other key features of the EU are ultimately unworkable? Or will the European Monetary Union emerge from this crisis stronger than before?"
Dr. Mark Brawley specializes in international political economy (IPE), but he is also interested in trade and international financial relations. Moreover, his interests in IPE often make connections between issues in political economic and international security. Dr. Mark Brawley is available for comments this Thursday, June 28th and Friday, June 29th.