Bulletin n. 1-2/2014
November 2014
CONTENTS
  • Section A) The theory and practise of the federal states and multi-level systems of government
  • Section B) Global governance and international organizations
  • Section C) Regional integration processes
  • Section D) Federalism as a political idea
    • Eaton Jonathan
    Italy and the European crisis: panel discussion
    in Journal of Modern Italian Studies , Vol. 19, n°4 ,  2014 ,  396-403
    The Crisis of 2008/2009 brutally ruptured a fault line that had separated northern European countries and countries to the east, south and west. The trade deficits of the not-north of Europe rapidly reversed. This reversal came hand in hand with drastic increases in unemployment. The north's pre-crisis trade surpluses continued into the post-crisis era with Europe as a whole replacing China as the largest surplus bloc in the world. Unemployment in the north has also largely returned to pre-crisis levels. This fissure between the two parts of the continent exposed serious contradictions in the financial architecture of Europe. Some are design flaws fixable within the existing institutional framework and are being addressed. But these fixes cannot overcome the harm imposed by stretching a currency union over what remains a very diverse and disconnected continent. But while Italy was on the wrong side of the fissure, a closer look at the data reveals that it was not among the most critically wounded. Rather the crisis exacerbated problems that had been simmering in Italy for some time.
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