그리스 채무드라마와 유로위기: 유로위기의 구조적 배경과 유럽연합의 위기 대응 변화 = Greek Debt Drama and Euro Crisis: Structural Background of Euro Crisis and Changes in Response of EU

다국어 초록 (Multilingual Abstract)

This paper aims to reveal the immanent structural tensions and dilemmas of the European Union(EU) through analyzing structural background of the Euro crisis. And also, through evaluating the EU’s maneuvering of the Euro crisis, this paper confirms that the package of tough measures of the EU on Greece has been carried out partly as an extension of the consistent logic of its own step.
For these aims, two tasks are taken in this paper. Firstly, it analyzes the structural background of the Euro crisis on which Greek debt drama is staged now. The Euro crisis is not simply a debt crisis of the countries, though it erupts out as a kind of fiscal crisis of periphery countries of the EU. Three kinds of structural factors like integrated financial market of the EU, structural imbalance of the Eurozone, and institutional defect of the EU as a transnational entity, function in a complex way as a background of the Euro crisis. Study on these factors helps us to understand the background of the Euro crisis and simultaneously identify the contradictions and tensions that the EU faces today. Secondly, it analyzes the response of the EU to the Euro crisis in two stages. At the first stage of crisis, emergency bailout funds for banks and economic policies for boosting growth have been introduced at the individual level of member countries while re-regulation of financial market was considered at the EU level. However, as the Euro crisis entered upon its second stage since the year of 2010, financial crisis moved toward fiscal crisis and, as a result, the EU took another actions targeting for stabilizing the Eurozone, intensifying fiscal tights and enhancing competitiveness and structural reform. From this perspective, therefore, the package of tough measures of the EU on Greece can be rightly understood not as an accidental outcome but as a consistent and extended response of the EU toward the Euro crisis.

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