Template-Type: ReDIF-Article 1.0

Author-Name: Gyorgy Szapary
Author-Workplace-Name: Magyar Nemzeti Bank
Author-Email: szaparygy@mnb.hu
Author-Person: psz20

Title: Centripetal and Centrifugal Forces in the European Union

Abstract: The economic crises of the 21st century have challenged the unity of the European
Union. The initially strong centripetal forces started to be weakened by new,
unexpected centrifugal forces. What does the future hold for the European Union,
and how can it face the unforeseen challenges? Currently the most important
divisive, centrifugal forces within the EU include the management of mass migration,
the debates surrounding the EU budget, the lack of a common foreign policy and
the issue of sovereignty versus federalism. The essay addresses these topics one by
one, because a strong, influential and unified Europe cannot exist without a solution
to the migration crisis which is accepted by all Member States, a more coordinated
fiscal and foreign policy and an explicit, uniformly accepted interpretation of the
sovereignty of nation states. These areas are likely to remain divisive, centrifugal
forces hampering the progress of European integration for years to come, but they
should be discussed to identify the most important things to do.

Classification-JEL: N14, F53, H61, H63, H77
Keywords: European Union, migration, EU budget, foreign policy, sovereignty
Pages: 118-129.
Volume: 20
Issue: 4
Year: 2021
File-URL: https://en-hitelintezetiszemle.mnb.hu/letoltes/fer-20-4-ove1-szapary.pdf
File-Format: Application/pdf
Handle: RePEc:mnb:finrev:v:20:y:2021:i:4:p:118-129.