Міжнародні відносини: теоретико-практичні аспекти (Jul 2019)
INTEGRATION OR DISINTEGRATION: EURO-ZONE REFORM LESSONS
Abstract
Мain objective of the study is to analyze endogenous destabilizing and disintegration tendencies within the framework of the European Monetary Union crisis, which grew into a crisis of a real economy, which simultaneously involved several EU member-states. Achieving this goal requires addressing a number of theoretical and historical lessons that highlight an important dilemma for the survival of the European project in the future. Research methods are systematic, procedural and situational approaches to the study of the Euro-zone countries, participants in the integration project and disintegration influences; institutional approach to the detection and analysis of dysfunctional institutional configuration within the framework of the European Monetary Union. Of great importance for the study of the economic integration and disintegration’s problems is the use of the universal scientific methodology principles, including an integrated approach to problem solving, envisaging a general vision of the movement of capital in the context of the European integration project, as well as the application of methods of logical models, induction and deduction, the unity of logical and historical in the development of a research object confirming the synergistic effect of historical and theoretical lessons. The main results and conclusions of the study are to formulate a clear and important dilemma for the survival of the European economic project: the creation of a political union with a functioning institutional configuration of the federal states, or the re-nationalization of many political spheres (financial control and restrictions, monetary sovereignty, trade policy, etc.). Taking into account the history of the Euro-zone, it is important to understand that there is a situation that more closely resembles a non-conflict but latent disintegration, which, instead of a single outbreak of conflicts, has been observed and lasted for a long period.
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