Understanding the Euro crisis: the new economic governance of the Eurozone

The EU and its system of economic governance has changed between 2010 and 2015. Since the beginning of the crisis a comprehensive revision and extension of the Stability and Growth Pact has been introduced. On the international level the Euro-Plus Pact and the Fiscal Compact Treaty were adopted with the aim of enhancing the coordination of economic policies among the member states. Apart from these initiatives, various mechanisms were introduced to provide conditional financing to member states facing insolvency, including the European Stability Mechanism. Collectively the changes have had a huge impact on European economic governance, although not all of the measures formally belong to the European Union. Robert will describe the evolution of the current system of economic governance and provide insights into the values and principles which underpin it. He will explain the dynamics of the system and show how it provides a basis for anticipating future developments. Robert Mężyk is a Visiting Scholar at the ANU Centre for European Studies. He completed a Master of Law, and a Master of Philosophy, both at Jagiellonian University, Poland, as well as a Magister Legum (LL.M) at Johannes Gutenberg Universität Mainz, Germany. Robert is currently undertaking his PhD at Humbolt University, Germany researching the conditional lending within the European Union during the financial crisis. Before undertaking his PhD he worked as a corporate lawyer.Robert is currently undertaking his PhD at Humbolt University, Germany researching the conditional lending within the European Union during the fi nancial crisis. Before undertaking his PhD he worked as a corporate lawyer. The ANUCES is an initiative involving five ANU Colleges (Arts and Social Sciences, Law, Business and Economics, Asia and the Pacific and Medicine, Biology and Environment) co-funded by the ANU and the European Union. This event is co-hosted with the Australia and New Zealand School of Government (ANZSOG).