The EU responded to the financial crisis in an uncoordinated fashion. ++ When stimulus plans are implemented on the national level, governments will go out of their way to keep the money in the national economy and bend competition rules. ++ Three effects follow: stimulus plans are compromised, the single market is adversely influenced, and an “existential threat to monetary union”
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The motor force behind the development of the EU has been economic interdependence and the creation of a common internal market. ++ If member states respond to the crisis by putting their national interest first, measures like state aid — especially banking and automotive industries — will upset the workings of the internal market and put European prosperity at risk. ++ The review process of
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