The economic crisis triggered by the COVID–19 pandemic once again raises doubts about the eurozone's ability to deal with joint economic problems given its dissimilar dynamics and asymmetries. This chapter contributes to a paradigm shift in the governance of the euro area towards a more...

The economic crisis associated with the COVID-19 pandemic leads to a substantial potential loss of personal incomes and jobs. European countries have given different answers to the rising challenge, which nevertheless point to the same direction. We give three examples of such courses of action,...

Although Euro Area member states agree on the need to protect the Economic and Monetary Union against the threat posed by the Covid-19, they differ on how to do it. These differences are the result of competing strategies of representation and legitimization that aim to establish specific ways...

The chapter engages in a comparison between the Eurozone crisis and the pandemic crisis. The cartography of both crises follows two axes: endogeneity versus exogeneity, and symmetric versus asymmetric effects. It then focuses on the reactions of EU institutions to the pandemic crisis and their...

In 1999, the euro was launched on the basis of treaties structured around the new economic orthodoxy that replaced Keynesianism. The Great Recession, the Euro Crisis and now the Pandemic Crisis, all of them deflationary demand crises which are incompatible with such an orthodoxy, have had a...