Greek PM Alexis Tsipras talks to Italian PM Matteo Renzi after the EU-Med summit in Athens. PAimages/Petros Giannakouris. All rights reserved.The European Union is faced with a huge existential crisis, probably the most serious one in its history, as a result of the neoliberal policies that have been pursued during the last decade.
The austerity policies that have been implemeted in many Eurozone member-states since the mortgage crisis in the United States, have further damaged the already fragile economies of the European South, deteriorating major macroeconomic indicators and the social pillars of the welfare state.
After six years of continuous spending cuts and shrinking of national economies, Europe and its political leadership are called to find convincing solutions for the future status of the European establishment. The threat of dissolution is more imminent than ever before, with conservative and far-right forces seeking to revive national and inter-state tensions that the founding fathers of the EU tried to mitigate in the 1950s with the creation of the European Communities.
