The recent years have shown that national sovereignty is difficult to combine with European stability. During and after the crisis, however, debate has raged on what level of budget cuts is appropriate and on whether leaving the currency union might be the lesser evil in some cases. Whether or not the currency union needs an emergency exit was last intensely discussed in connection with the third bailout package for Greece in 2015.
What can be done if a Eurozone country does not recover and the population grows tired of cutting back and implementing reforms? Our "Europa Briefing" draws up three scenarios on how to deal with the dilemma between stability and sovereignty in the euro area in the future, and whether there are alternatives to the "exit" in a crisis.