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Dinan argues that the period from the late 1970s to the early 1980s

    1. Dinan argues that the period from the late 1970s to the early 1980s “formed a critical bridge” for the Community, between its early achievements and its later progress (p. 53). But it was not clear at the time that the EU had a future. Drawing on your readings for this week, and my lecture, what were the problems the EU was facing in this ‘malaise’ period? First, describe some of the key figures of this era, and their agendas. In your view, were individual personalities central to the problems of the time, or were more structural issues at work? Support your answer with concrete reference to the assigned reading. Second, to what extent do you think it is possible to say that ‘events’ were instrumental in pushing (or, at least, creating opportunities for) the further the development of the EU, from the 1970s onwards? (Devote 50% of your journal to this question).
      2.    Now we move to Part II of Stiglitz, and his views on why the euro might have been a flawed project from the beginning. While the debts of the PIGS have been singled out by the powerful countries in Europe as the issue, Stiglitz himself appears to think that blaming the deficits is a red herring that distracts from the deeper issues of the euro overall. Why? Among the questions you can consider here are: why is it that the United States can function as a common currency area, but the eurozone can’t? Similarly, why is it that the eurozone could not address its persistent trade deficits, and why did they matter? Be sure to back up your answer with reference to the text (Devote no more than 25% of your journal to this question).
      3.    As we move into Part III of the Stiglitz book, Stiglitz appears to be upset at what he sees as a studied ignorance (a better word might be hubris?) on the part of the eurozone’s policymaking elite. Now, of course, these policymakers have vested interests — clearly, were the peripheral economies to have declared themselves insolvent, banks in the core economies would have been significantly exposed! But even that doesn’t quite account for the ham-fisted nature of the Troika’s actual strategy for recovery. Relating to Chapters 7 and 8 then, please identify the key points that stand out for you as good examples of how the Troika’s management of the crisis actually made it worse. Elaborate your argument with support from the text (Devote no more than 25% of your journal to this question).
      the book from chapter2-chapter3

    “formed a critical bridge” for the Community, between its early achievements and its later progress (p. 53). But it was not clear at the time that the EU had a future. Drawing on your readings for this week, and my lecture, what were the problems the EU was facing in this ‘malaise’ period? First, describe some of the key figures of this era, and their agendas. In your view, were individual personalities central to the problems of the time, or were more structural issues at work? Support your answer with concrete reference to the assigned reading. Second, to what extent do you think it is possible to say that ‘events’ were instrumental in pushing (or, at least, creating opportunities for) the further the development of the EU, from the 1970s onwards? (Devote 50% of your journal to this question).
    2.    Now we move to Part II of Stiglitz, and his views on why the euro might have been a flawed project from the beginning. While the debts of the PIGS have been singled out by the powerful countries in Europe as the issue, Stiglitz himself appears to think that blaming the deficits is a red herring that distracts from the deeper issues of the euro overall. Why? Among the questions you can consider here are: why is it that the United States can function as a common currency area, but the eurozone can’t? Similarly, why is it that the eurozone could not address its persistent trade deficits, and why did they matter? Be sure to back up your answer with reference to the text (Devote no more than 25% of your journal to this question).
    3.    As we move into Part III of the Stiglitz book, Stiglitz appears to be upset at what he sees as a studied ignorance (a better word might be hubris?) on the part of the eurozone’s policymaking elite. Now, of course, these policymakers have vested interests — clearly, were the peripheral economies to have declared themselves insolvent, banks in the core economies would have been significantly exposed! But even that doesn’t quite account for the ham-fisted nature of the Troika’s actual strategy for recovery. Relating to Chapters 7 and 8 then, please identify the key points that stand out for you as good examples of how the Troika’s management of the crisis actually made it worse. Elaborate your argument with support from the text (Devote no more than 25% of your journal to this question).
    the book from chapter2-chapter3

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