Recovery of the Eurozone and a New Dynamic in European Integration: Implications for Member States outside the Monetary Union
Recovery of the Eurozone and a New Dynamic in European Integration: Implications for Member States outside the Monetary Union

Summary/Abstract: In the last few years, the division of the EU between Member States inside and outside the eurozone has begun to stabilise. Those that intended to adopt the single currency as early as possible have done so and the others either did not wish to join the eurozone or could not do so quickly. This stability was supported by several factors, in particular the economic weakness of the eurozone, the relatively high political and economic weight of countries on the outside (which guaranteed) their influence in the EU, and the general stagnation of EU integration processes. However, it is becoming clear that by 2017, these factors are becoming less influential, which may translate into a change in the relationship between Member States inside the eurozone and those outside. Neither a new enlargement dynamic of the single currency area nor a deepening of divisions in the EU can be ruled out.

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