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Challenges to Representative Democracy

A European Perspective

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Edited By Robert Wiszniowski

Using different perspectives and various approaches, this collection of diagnostic texts aims at presenting all the possible faces of the contemporary Nation-State. Based on political science methodology, this volume is devoted to both theory and practice. The structure of the book is unconventional. The issues presented are extremely contextual, subject to an ongoing discussion and mostly unpredictable. From the scientific point of view, the territorial differentiation in the traditional uniform of the Nation-State is simply reconfigured and reshaped due to the new logic of internal market competition.
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Debt crisis in the euro zone: selected problems of economic and fiscal governance

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Marek Wróblewski

University of Wrocław, Poland

Introduction

The global financial crisis has created a range of negative economic, financial and social implications in different parts of the world. The consequences of the crisis were noticeable (and still are) not only in developing countries, which have been so far more susceptible to various economic shocks, but also in developed countries based on the relatively mature market systems. Paradoxically, the global financial collapse became a serious challenge for the Economic and Monetary Union (EMU), which was widely considered as an elitist club of affluent and stable countries, and was one of the major and direct catalysts of the European debt crisis. Furthermore, the violent events during 2008-2013 show that the above-mentioned challenge referred to the specific countries of the Euro zone, which have directly experienced the economic and financial collapse at different scale and for different reasons (the cases of Cyprus, Greece, Spain, Ireland, Portugal, Slovenia, Italy), and was a significant danger for the durability of the whole project of the European monetary integration. In such a context, some reasonable and crucial questions have appeared concerning the durability of the common European currency, its effectiveness and its future which have been asked by academic, political, business and media communities.

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