The Future of the Euro: A Comparative Analysis of Five Policy Options The European Christian Political Foundation in co-operation with the Dutch ChristenUnie and its Scientific Institute commissioned a research into the euro crisis.
The Future of the Euro: A Comparative Analysis of Five Policy Options
The European Christian Political Foundation in co-operation with the Dutch ChristenUnie and its Scientific Institute commissioned a research into the euro crisis. The research is a reflection from the Dutch perspective with profound conclusions for the whole eurozone. An independent working group set to work under the supervision of Prof. Dr. Johan Graafland, which has resulted in the following report: 'The Future of the Euro: A Comparative Analysis of Five Policy Options'. The last six months, the crisis has deteriorated and the call for perspective has intensified. Unemployment increases and benefits are cut back. Economic policy measures are really affecting us now. And it gets worse. As this study makes clear, whatever path we will take to combat the euro crisis, it is always be very costly. But there is more to this crisis than money and property alone. The added value of this report is at least twofold: the scientific foundation of the claim that there are good alternatives to the current path (of further integration) and the connection that is made between economic and political-cultural factors.
This report explicitly chooses an open approach, in which alternative views are studied as well. The report outlines five policy options that are worth to be examined with an open mind: 1) further integration of the euro-zone, 2) exit of Greece, 3) exit of some southern European countries, 4) splitting the euro into a neuro and a zeuro, and 5) leaving the euro altogether.
Which option will be the best one? If you are looking for a ready-made answer, you will be disappointed. This report does not provide a simple solution; the crisis is too complex and there are too many uncertain scenarios to be able to do this. What becomes apparent, is that there are more and less obvious options.
The central question to be considered is: what is, in the long term, the best option for the EU as well as for countries that will possibly leave the euro-zone? Thus, the research question of this report will be: which policy option provides the best guarantee of a sustainable economic development of all the countries of the EU?
For the European Christian Political Foundation and the ECPM, the EU has always been more than a euro project alone; it also considers the EU as a community of peace and public justice, of values and standards (in the beginning of 2013, the ECPF will publish a detailed research on this subject matter, executed by Dr. Sander Luitwieler). In this framework of solidarity and social justice we hope that this report can offer a valuable contribution to a solution for the eurocrisis.
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The Future of the EURO
A comparative analysis of five Policy Options
by Prof. Dr. J.J. Graafland
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