Overview

The euro area sovereign debt crisis has been the greatest threat to the euro since its inception, but the consequences of the crisis go well beyond the realm of macroeconomics: the crisis has cast doubt on the viability of a mechanism of integration such as the one envisaged in Economic and Monetary Union (EMU), and on the future of the European Union as a political project in the face of citizens' growing disaffection. The various responses to the crisis have not only altered the principles underlying EMU; they have also had a profound impact on the constitutional orders of the EU and its Member States.This book focuses on the euro area crisis and its aftermath from a constitutional perspective. It provides a critical analysis of the workings and evolution of Economic and Monetary Union, the changes brought by the crisis and their broader effects, and the constitutional obstacles to integration in this area. Looking forward, it tackles the uncertain future of economic and fiscal integration and the challenges posed. This is a compelling and incisive account of some of the most significant developments and dilemmas facing the European Union since its creation.

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9780198714958

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A wonderfully written, thoughtful contribution to the ongoing discussion of EMU reform... The book is absolute first-class state-of-the-art EMU literature. Developments since its publication (such as Gauweiler and the BVerfG subsequent ruling of 21 June 2016) do not reduce its value at all. Rather, the reader will be in a position to better assess the importance and effects of these decisions. In sum, the work is ideal reading for EU constitutional lawyers interested in how the euro area crisis affects them and for EMU lawyers interested in how constitutional law is relevant to EMU. For both, it is a 'must'! Christoph Herrmann, Common Market Law Review The Euro Area Crisis in Constitutional Perspective by Alicia Hinarejos represents the rich constitutional perspective which has evolved since the eruption of the crisis... As mentioned in the book, one of the most essential lessons the euro crisis has taught us is that fiscal and economic integration is not about numbers and economics only. Quite the opposite: fiscal and economic integration should be reviewed against the wide and manifold constitutional background... The Euro Area Crisis in Constitutional Perspective is a rich constitutional analysis of fiscal and economic integration during and after the euro area crisis. Structural transformations are traced, identified and explicated in a precise manner. The book offers a wide variety of constitutional perspectives which future constitutional scholarship can rely on. Jussi Jaakkola, European Law Review

A wonderfully written, thoughtful contribution to the ongoing discussion of EMU reform... The book is absolute first-class state-of-the-art EMU literature. Developments since its publication (such as Gauweiler and the BVerfG subsequent ruling of 21 June 2016) do not reduce its value at all. Rather, the reader will be in a position to better assess the importance and effects of these decisions. In sum, the work is ideal reading for EU constitutional lawyers interested in how the euro area crisis affects them and for EMU lawyers interested in how constitutional law is relevant to EMU. For both, it is a 'must'! * Christoph Herrmann, Common Market Law Review * The Euro Area Crisis in Constitutional Perspective by Alicia Hinarejos represents the rich constitutional perspective which has evolved since the eruption of the crisis... As mentioned in the book, one of the most essential lessons the euro crisis has taught us is that fiscal and economic integration is not about numbers and economics only. Quite the opposite: fiscal and economic integration should be reviewed against the wide and manifold constitutional background... The Euro Area Crisis in Constitutional Perspective is a rich constitutional analysis of fiscal and economic integration during and after the euro area crisis. Structural transformations are traced, identified and explicated in a precise manner. The book offers a wide variety of constitutional perspectives which future constitutional scholarship can rely on. * Jussi Jaakkola, European Law Review *

Author Information

Alicia Hinarejos is a University Senior Lecturer at the Faculty of Law, University of Cambridge, and a Fellow of Downing College.

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