3. Eurocrisis. The sovereign debt crisis spread only within the Eurozone. Explain why and then describe how European institutions
have evolved to protect the euro.
• This question relates to Lecture 6 and 8, but not exclusively.
• Your answer must show understanding of the EMU’soriginalsin(s) – which led to external imbalances and a
sovereign debt crisis. You can – but need not to - critically compare the experiences of EMU and non-EMU members of the EU
to develop your argument.
• Finally, you should draw on the latest EU institutional developments - thus, referring to other topics studied in this course - to
gauge whether they are effective in protecting the single currency from future shocks.
4. EU Fiscal Policy: Develop the case for (or against) a fiscal union.
• This question is mainly, but not only, based on Lecture 7.
• Your answer should problematise fiscal policymaking in the context of European integration, with its pros and cons, to
develop an informed opinion on the best way forward in the management of public finances.
• You can analyse the evolution of this policy area, in light of past challenges and opportunities for change. In doing so, you can
touch on other policy areas and draw examples from different countries.
• Building on existing scholarship to form. your view is crucial.
• Your conclusions need to be bold as well as mindful of their own limits.