Europe’s Future - The Relevance of Keynes’s Economic Consequences of the Peace

Abstract

The purpose of this paper is to use the analysis and recommendations of The Economic Consequences of the Peace in order to illustrate how Keynes’s approach could be used for an inquiry into the nature of the current euro crisis. The euro crisis should not be separated from the crisis of the European Union itself, since it is almost impossible to assume that the effects of the demise of the euro area would not a be a direct cause of the unraveling of the European Union, the most vast, complex, and tenacious effort of economic and political integration in modern history. Certainly, the conclusions and remedies proposed by Keynes should not be overlooked and it is possible to draw some broad conclusions on how his approach would affect the considerations regarding possible remedies for the current crisis.

Key words: Keynes, European Union, Eurozone crisis, Government debt.
JEL: B41, F02, N44.