Remarks on the Future of the European Union: Domestic and Global Challenges Ahead

This paper highlights the main consequences that the crisis has put on the European Union, regarding four major areas: financial, macroeconomic, social and mental-ideological. Also, it aims to tackle some key challenges for the European Union: the revival of international trade; the prevention of the rise of protectionism on the global scale; the need to find a solution to the dilemma between continued stimulus and financial consolidation in general, and between the ambitious goals of the Europe 2020 project and the current fiscal restrictions; the growth of public support across Europe for a financial consolidation strategy based on cutting spending; the impact of the financial and macroeconomic crisis on several sectors; and the deficiencies of the European construction” indicated by the global crisis. Furthermore, it proposes four main questions for which EU has to provide clear answers in order to become a real global player. The questions concern the European identity”, the European values”, the EU strategy paper establishing its mission for the next period and the importance of a strong leadership implementing the strategy. In the end, the most important challenge seems to be how the EU can remain a global economic actor and become a more influential political player in the network of rapidly changing international power relations.