Coronacrisis in the EU: a knock-down or a jump-off for integration?

Author:

Chupina D.1

Affiliation:

1. Institute of Economics of the Ural Branch of RAS, Moskovskaya Str., 29, Ekaterinburg, 620014, Russian Federation

Abstract

Received 25.10.2020. The spread of the new coronavirus infection and the ensuing lock-down dealt a devastating blow to the EU economy. The depth of the crisis, as well as the difficulties of developing a common recovery program, put under question the EU ability to overcome this challenge. As long as the first wave of COVID‑19 is over, the stage of urgent measures responding to unexpected threats is over, the long-term anti-crisis program is negotiated, it is possible and necessary to summarize the interim results of the impact of the COVID‑19 outbreak on the European economy. The purpose of this article is not only to assess the impact of the first wave of the pandemic on the European economy and systematize the anti-crisis measures taken, but also to analyze the role of the coronacrisis in the further development of the EU through the prism of the main integration theories. The study revealed that the coronavirus crisis has not (yet) brought the European integration to its final. Faced to a huge threat to security and well-being, European leaders managed to negotiate a recovery plan. The disadvantages of the deal are the risk of erosion of the supranational governance and the threat of politicization due to belated decisions with limited potential. However, the majority of EU citizens still support further strengthening of the integration. To maintain this momentum, it is important to quickly finalize the mechanisms for implementing the recovery program in order to reduce public discontent and prevent the replacement of supranational governance by intergovernmental interaction.

Publisher

Primakov Institute of World Economy and International Relations

Subject

Political Science and International Relations,Economics and Econometrics

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