Perspectives For A Common Stability Culture In Europe
Meeting of Experts Organised by the Konrad-Adenauer-Stiftung in Berlin
Matthias Schäfer, David Gregosz, Berlin, Aug. 22, 2012
Editor: Konrad-Adenauer-Stiftung e.V., ISBN 978-3-944015-04-0
The “euro crisis” has focused attention on the fact the eurozone countries are increasingly interdependent when it comes to economic growth, and it has served to emphasise how, more than ever before, it is important to ensure that every national economy can grow at a similar rate.
The ongoing process of European integration has led to the individual European national economies – that is to say their financial and goods markets – becoming more closely interwoven. As a result, decisions (or failure to take decisions) on economic policy by individual countries no longer simply have an impact on their domestic economies but can also have a significant effect on the growth and economic situation of every country in the eurozone. Today more than ever, the eurozone countries all share a common fate – in good times and bad. On the one hand, they all benefit from a particular country’s economic strength, but on the other hand they are all affected by another country’s economic weakness. For this reason, it is essential to intensify the debate on economic growth in the member states. This will promote a mutual understanding of each country’s growth and open up a common European perspective that will help the member states to be more competitive and to maintain the stability of the single currency.