This chapter examines the euro crisis. It examines its pre-history, the euro crisis, its aftermath and offers an analysis by looking to its origins. The chapter focuses first on internal... Show moreThis chapter examines the euro crisis. It examines its pre-history, the euro crisis, its aftermath and offers an analysis by looking to its origins. The chapter focuses first on internal developments that have shaped the European integration process in the area of economic and monetary integration in order to provide an analysis of the euro crisis. The next section looks at the origins and developments of the euro area crisis as they unfolded and what responses political leaders gave. The fourth section examines the creation of some of the institutional structures that were created or conceptualised to develop EMU further, (such as European Financial Stability Facility, European Stability Mechanism, Banking Union, Capital Markets Union) and road maps (Four Presidents’ Report; Five Presidents’ Report) and the plans of 2017 (the March 2017 White paper on the Future of Europe and May 2017 Reflection Paper on EMU). The penultimate section provides an overarching analysis of these developments. It provides a summary of the ‘historiographical debate’ on the why and how of the euro-crisis. This dimension of historiography and theory is offered to contribute to ongoing scholarly debates of the euro-crisis and thereby contribute to a better understanding of the understanding of the history of the euro-crisis. The final section concludes and speculates about the road ahead. Show less
