After the Euro Crisis: A New Paradigm on the Integration of Europe
This paper examines the constitutional system of the European Union, and how it has radically been called into question by the euro crisis. Fabbrini argues that the EU has entered a constitutional conundrum, and that a paradigm shift is required in order to escape from it.
The Lisbon Treaty is the outcome of several constitutional compromises. These compromises were considered the price to be paid for preserving the unitary character of the project of integration. The euro crisis has dramatically called into question these multiple constitutional compromises. The balance between supranational and intergovernmental views has been upset in favour of the former. The approval of new intergovernmental treaties has made crystal clear the separation of interests between the European Monetary Union and the opt-out member states. The European Union has entered a constitutional conundrum, and a paradigm shift is required in order to escape from it. The historical challenge facing Europeans is to promote the integration of the continent in the context of a plurality of institutional and legal arrangements.