[The EU's Precarious Old Normal and the Need for Reform].

Area of Science:

• Political Science
• European Studies
• Economics

Context:

• The European Union (EU) has experienced continuous crises since 2008.
• The COVID-19 pandemic has exacerbated the need for a future strategy beyond returning to the pre-crisis status quo.
• There is a notable absence of a forward-looking concept for the EU's future political and economic architecture.

Purpose:

• To analyze the internal dynamics of successive crises within the EU since 2008.
• To identify potential reforms for the EU's structure, particularly in fiscal and monetary policy.
• To warn about the risks of escalating crises and the potential global marginalization of the EU.

Summary:

• The article examines the EU's persistent crisis mode since 2008, highlighting the inadequacy of aiming for a return to the past.
• It critiques the lack of a future vision for the Union, especially after the COVID-19 pandemic, posing an existential threat.
• The analysis delves into the internal context of these crises and proposes reforms in fiscal and monetary policy.

Impact:

• Provides a critical assessment of the EU's current trajectory and the challenges to its long-term stability.
• Offers insights into necessary reforms in economic governance to ensure the EU's resilience.
• Raises awareness about the potential for increased internal instability and diminished global influence if strategic changes are not implemented.