The Social Impact of the Eurozone Crisis in Southern Europe: The EU Response and the Challenges Ahead
As the ongoing eurozone crisis continues to threaten the European single market and endanger the global economy, it has unleashed uncertainties about Europe’s political and institutional durability. The economic crisis has also become increasingly a social crisis, especially in the heavily-indebted states of Southern Europe, where austerity measures and high unemployment have led to questions about the sustainability of the current situation.
On May 3, the Center on the United States and Europe at Brookings (CUSE) and the European Parliament’s Liaison Office, hosted a discussion with European Parliament Vice-President Gianni Pittella. In his remarks, Mr. Pittella discussed the social impact of the crisis and how the European Parliament has responded to address these challenges.
Gianni Pittella has been the first vice-president of the European Parliament since July 2009 when he was re-elected for the third time with the Democratic Party from the Southern Italy electoral district. He was first elected as a member of the European Parliament in 1999. Mr. Pittella is the author of numerous books, including most recently, Federalismo Avvelenato (Fondazione Zefiro, 2011) and A Brief History of the Future of the United States of Europe (Fazi, 2013), which he coauthored with Elido Fazi.
Brookings Nonresident Fellow Clara Marina O’Donnell provided introductory remarks and moderated the discussion.
“The 21st century has revalued these small geographies. That’s what the 21st century demands,” Katz said, noting that these days, “[w]e aren’t innovating in isolated business parks” in the suburbs.