This paper argues that EMU has been and continues to be a politically driven process. In this perspective, it examines the issues and the implications of potential Euroexit and Euro break up: it underlines that these processes would have a prominent political dimension, as was the case for the...

The Economic and Monetary Union (EMU) is examined according to a network (complex-system) approach. Problems of idiosyncratic, endogenous and systemic risks are addressed. In this perspective, six economic paradoxes of the Eurozone are identified: inflation, liquidity, saving, de-leveraging,...

The suspension of the fiscal rules in Europe and the enactment of NGEU provide an opportunity to rethink the inherited budget orthodoxy. The issue at stake is not only of political economy and institutional changes in the EU. It is also of economic analysis and theory. The coronavirus crisis...