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Southern Europe in the EU Study Group

Eurozone Reform, a Spanish Perspective


September 20, 2018
2:30pm - 4:00pm
Hoffmann Room, Adolphus Busch Hall
September 20, 2018
2:30pm - 4:00pm
Hoffmann Room, Adolphus Busch Hall

During the Eurozone debt crisis, Spain's voice was missing in European affairs. The country's focus was on internal reforms. Over the past years, however, Spain's economy has been growing above average and the new socialist Government of Pedro Sánchez is keen to play a more proactive role in European debates. The European Commission welcomes this. When it comes to reforming the Eurozone, the discussions in the media and among academics are too focused on the possible Franco-German compromises, the blocking capacity of the so-called Hanseatic League led by The Netherlands, and the disrupting potential of the new Italian Government. In this context, Spain, still strongly pro-European, could be the necessary broker. However, is it capable of performing this mediating and constructive role? Are the structural reforms undertaken during the crisis enough to underpin its growth, and therefore its credibility? Can Spain become the leader of the South and convince the partners of the North that a fiscal union is necessary to strengthen the Euro? Can Spain influence the upcoming new Franco-German “Elysée Treaty” negotiations (that will include a chapter on the future of the European Economic and Monetary Union), which are anticipated to conclude by the end of 2018? These and other questions will be discussed in this seminar.

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