Geopolitics of the European Union: Are Steps Backward the Way Forward?
Jovanovic, M., and J. Damnjanovic (2013). ‘Geopolitics of the European Union: Are steps backward the way forward?’, Economia Internazionale/International Economics, vol. LXVI, November 2013, pp. 455-482.
29 Pages Posted: 14 Feb 2014
Date Written: November 1, 2013
The principal goal of integration in Europe in the post-Second World War period has always been the safeguarding of peace through economic integration. The European Union (EU) has overseen splendid economic achievements. A sign of that great success has been the EU's continuous enlargement. However, geopolitics in Europe is transforming as Germany, France, Britain, Russia and Turkey explore ways to return to a version of the ‘old’ geopolitical equilibrium in which these countries, rather than the EU, call the tune in Europe. The eurozone is the crown jewel in the process of European integration, but it is also its weakest component. The eurozone is now synonymous with harsh austerity measures, protests and no prospect of any remarkable growth in many countries for a good many years to come. Obvious rifts between the EU's countries are shaking its foundations like never before. The EU passed through many crises (approximately one a decade), and it always exited stronger. This time may be different. The EU may weather the storm. It may, however, end up as a big and important group, but not a very happy family of nations. The first decade of the 21st century was ‘lost’ for the EU, while the second decade may prove to be the epoch of its diminished global relevance. This is a pity as Europe has taken the reins in many global issues (e.g. environment).
Keywords: geopolitics, European Union, Germany, France, Britain, Russia, eurozone
JEL Classification: F15, F53, F55
Suggested Citation: Suggested Citation