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Mark Copelovitch @mcopelov
, 13 tweets, 9 min read Read on Twitter
Today is the #Euro's 20th birthday. It's been a turbulent second decade for the single currency. While the Euro has survived, and in many ways been successful, the fundamental political and economic problems laid bare by the Euro crisis remain 1/ #EUROat20
In 2011, I discussed the economic and political reasons for European monetary integration, as well as the political economy of the crisis. The core problems and barriers to real policy solutions I discussed then largely remain today 2/…
In 2015, I wrote about the Euro crisis in the wake of the Greek referendum. While the Euro has survived and Grexit, thus far, has not happened, the existential threats to EMU in the long term remain 3/…
In 2016, @stefwalter__ @jafrieden & I edited a CPS special issue on the political economy of the Euro crisis, w/ some amazing collaborators, incl @jfalbertos @realDLeblang @fgenovese86 @mhallerberg @SophieLMeunier @Erik_Jones_SAIS & @rdanielkelemen 4/
As we summarize here, the underlying problems of the EZ remain & the long-term future of EMU remains unclear. The challenge of the Euro's third decade is to overcome these barriers, most of which are primarily about domestic & international politics 5/…
I talked more in 2018 with @DavidBeckworth on how policymakers botched the response to the global and Eurozone crises and turned them into a Lost Decade. Unfortunately, there is little reason yet to believe that next time will be any different 6/
One of the best things about Twitter is how it has helped me connect w/ so many smart people writing about the Euro, including @ashokamody @adam_tooze @M_C_Klein @AndrewWattEU @nicolas_veron @BrigidLaffan @BJMbraun @DanielaGabor @miotei @m2matthijs & more. Twitter at its best 7/
So, happy birthday #Euro! Here's to the next decade of political economy challenges & domestic/international political struggles over the distributional consequences of policies to manage one money for 19 very different countries 8/
Let's hope there is a 30th birthday in 2029. But, just in case, here is the map we'll need to describe the countries that leave 9/
And, of course, any good IPE topic deserves appropriate music. My favorite songs for pondering European integration and the Euro crisis:

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