International Relations blog, May 18, 2012
By R. Daniel Kelemen in www.foreignaffairs.com
Professor of Political Science, Jean Monnet Chair and Director of the Center for European Studies at Rutgers University. His research interests include the politics of the European Union, law and politics, comparative political economy, and comparative public policy. He is the author of two books - Eurolegalism: The Transformation of Law and Regulation in the European Union (Harvard University Press, 2011) and The Rules of Federalism: Institutions and Regulatory Politics in the EU and Beyond (Harvard University Press, 2004), as well as numerous book chapters and articles in journals including World Politics, International Organization, Comparative Political Studies, West European Politics, Journal of Public Policy and Journal of European Public Policy. He is also co-editor of the Oxford Handbook of Law and Politics (Oxford University Press, 2008). He serves on the editorial boards of the Journal of European Public Policy and West European Politics and is a former member of the Executive Committee of the European Union Studies Association.
The eurozone’s troubles no longer qualify as a crisis, an unstable situation that could either quickly improve or take a dramatic turn for the worse. They are, instead, a new normal — a painful situation, to be sure, but one that will last for years to come. Citizens, investors, and policymakers should let go of the idea that there is some magic bullet that could quickly kill off Europe’s ailments. By the same token, despite the real possibility of Greek exit, the eurozone is not on the brink of collapse. The European Union and its common currency will hold together, but the road to recovery will be long...continue reading in IE's International Relations blog, May 18, 2012
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