The project offers an analytical account of the Eurozone crisis that goes beyond existing explanations linked to ‘domestic constraints’ and ‘systemic problems’. It combines a critical assessment of our assumptions about the policy context (EMU fragility, fiscal laxity) and the ideas that guided policy design in response to the crisis with a positive analysis of structural weaknesses of policy delivery, linked to two key analytical ideas concerning policy learning (for domestic adaptation) and transformation under conditionality (for rule-transfer). By this, it frames the crisis as a unique combination of government failure (ineffective policies) and failed government (ineffective governments).
