Quotation Aiginger, Karl. 2017. This Can Still Be Europe's Century. International Journal of Business and Economic Affairs (IJBEA). 2 (3), 173-182.




The European integration process has been a long-run success model. Europe created an area of peace in a formerly con ict-ridden continent and at the same time the largest common Market of the world and a currency union for most of its countries. However, Europe has su ered from low dynamics since the nancial crisis, and some of the consequences of this are high youth unemployment, the Brexit and the opposition to European solutions for dealing with migration. The study summarizes and evaluates research documents gathered by 28 European research institutions using historical analysis, models, and econometric techniques. One crucial result is that the European integration process has lost its narrative, and as a result also the enthusiasm of citizens for common solutions as needed for a currency union. Consequently, the article develops a new vision for Europe 2050 with seven required game changers. Taking more responsibility in shaping globalization and in stabilizing its politically unstable neighbourhoods would additionally be essential to regaining public support, as well as to boosting investment and consumption. The paper is intended as a contribution to an evidence-based design for Europe and the strategy discussion initiated by the White Paper of the European Commission. Europe still has a narrow window of opportunity for introducing reforms, combating Euro-scepticism and creating a role model for high well-being and broader societal goals.


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Status of publication Published
Affiliation External
Type of publication Journal article
Journal International Journal of Business and Economic Affairs (IJBEA)
Language English
Title This Can Still Be Europe's Century
Volume 2
Number 3
Year 2017
Page from 173
Page to 182
URL http://karl.aiginger.wifo.ac.at/fileadmin/files_aiginger/publications/2017/IJBEA-2017-23002.pdf
DOI na
Open Access Y
Open Access Link https://karlaiginger.wifo-pens.at/fileadmin/files_aiginger/publication


Aiginger, Karl (Details)
Department of Economics DP (Details)
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