This interdisciplinary volume probes the economic and political impact of both, the 2008-09 financial-economic crisis and the subsequent sovereign debt crisis in Europe. Basing their analysis on a well-researched depiction of the origins and scope of the crisis, leading experts from Europe and North America critically examine its potentially destabilizing political effects. These include questions on the capacity of the European Union to respond swiftly and effectively, challenges to key EU policy commitments (such as climate change and anti-protectionist trade policies), and the manner in which potentially discontent electorates hold their leaders to account. This volume is unique in devoting special attention to the post-communist states, both those that have joined the European Union as well as Russia, and suggests that a global crisis of this type does not respect traditional political or economic boundaries, but rather that it has effects at the regional, national and supranational level. By extending the geographic scope, the authors address important questions about why some countries have suffered more that others and what the crisis will mean for the future shape of Europe.

The financial crisis of 2008-09 took an unexpected turn upon challenging a core symbol of Europe's integration project, the Euro. In this volume, leading experts tackle questions on the capacity of the EU to respond, the manner discontent electorates will hold their leaders to account, and the implications for Europe's future relations with Russia.