Future Scenarios for the Eurozone: 15 Perspectives on the Euro Crisis
The Eurozone is standing at a crossroads, facing the biggest challenges in its history: the systemic crisis and the political attempts to overcome it have far-reaching consequences for the future of the Economic and Monetary Union, European integration and Europe in the world. By identifying the main driving forces that influence the future development of the Economic and Monetary Union, a number of different scenarios were developed to show what the Eurozone will look like in the year 2020. Four major scenarios are imaginable: (A) Muddling through the Crisis. The Eurozone remains a house without a protecting roof. (B) Break-up of the Eurozone. The Euro house falls apart. (C) Core Europe: evolution of two-level integration with a smaller and stable, but exclusionary Euro house. (D) Completion of the Monetary Union by a fiscal and political union. The roof is repaired and construction completed.
ORBIS is powered by ESPAS, the European Strategy and Policy Analysis System, a unique inter-institutional project aimed at strengthening the EU's efforts in the crucial area of forward planning. ESPAS brings together the European Commission, the European Parliament, the Secretariat General of the Council of the European Union and the European External Action Service to strengthen the Union's collective administrative capacity to identify and analyse the key trends and challenges, and the resulting policy choices, which are likely to confront Europe and the wider world in the decades ahead.