Far from endangering European integration, the Eurocrisis has contributed to strengthening EU institutions. Thus, it should be seen as a strategic integrational step, not as a mistake. Nevertheless the social fabric of the emerging European society remains fragile.
Creating a common currency area means replacing indifference by cooperation and conflict. In this sense the Eurozone crisis might not be a deadly challenge to the whole European construct, but rather become a further step towards a European society.
The harmonisation of national economies inside the eurozone is essentially a clash of time horizons – the future might be bright, but the transformation process in hard-hit countries is painful, and unfair. What lessons should we draw from the historical example of German reunification?
Beyond its political and economical ramifications, the euro crisis has had a profound impact on European society. From a distributional conflict perspective, these turbulent times redefine who gets into conflict with whom.
