Between Responsibility and Solidarity: COVID-19 and the Future of the European Economic Order

Max Planck Institute for Comparative Public Law & International Law (MPIL) Research Paper No. 2020-39

in Heidelberg Journal of International Law/Zeitschrift für ausländisches öffentliches Recht und Völkerrecht, Issue 4/2020 (forthcoming)

13 Pages Posted: 5 Nov 2020

See all articles by Michael Ioannidis

Michael Ioannidis

Max Planck Institute for Comparative Public Law and International Law

Date Written: November 5, 2020

Abstract

Is the shock of COVID-19 pushing the EU macroeconomic constitution to a new equilibrium between fiscal responsibility and fiscal solidarity? Only a few years after the Eurozone crisis required the rearrangement of the EU economic order, COVID-19 brings the EU to another critical juncture. Already from the beginning of the COVID-19 crisis, most actors recognized that this was no story for national economies alone. The EU had to step in – and so it did, using an impressively broad pallet of instruments. Unlike in the Eurozone crisis, however, when political and legal debates were basically structured around the idea of ‘(national) responsibility’, the structuring role is now claimed by the principle of ‘solidarity’. This Editorial Comment presents some evidence of this shift, discusses its justification, and touches upon the related promises and risks.

Keywords: NextGenerationEU, EU economic governance, solidarity, responsibility, conditionality, COVID-19

Suggested Citation

Ioannidis, Michael, Between Responsibility and Solidarity: COVID-19 and the Future of the European Economic Order (November 5, 2020). Max Planck Institute for Comparative Public Law & International Law (MPIL) Research Paper No. 2020-39, in Heidelberg Journal of International Law/Zeitschrift für ausländisches öffentliches Recht und Völkerrecht, Issue 4/2020 (forthcoming), Available at SSRN: https://ssrn.com/abstract=3725458 or http://dx.doi.org/10.2139/ssrn.3725458

Michael Ioannidis (Contact Author)

Max Planck Institute for Comparative Public Law and International Law ( email )

Im Neuenheimer Feld 535
69120 Heidelberg, 69120
Germany

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