Euroland’s travails

Here is the url of the webinar. You will have to copy and paste to get on to the site.

I talk about the Euro, and argue that the crisis is much deeper than the discussions in “Brussels” allow for. For the Euro to succeed, the internal market has to be completed, in other words, all goods and services across the union have to be tradable without hindrance; labour movement has to be free, and no labour protection allowed; and there has to be a single federal government, with tax and spend powers to transfer resources from one end of Euroland to the other. That requires the consent of all the peoples of the various nation states to surrender their national sovereignties to the new centre, based in Brussels. To achieve the creation of a federal state, the EU has to be able to pass the test of being a democratic and constitutional state.

Meanwhile, the authorities have embarked on the long and arduous task of negotiating a banking union, while unemployment rises to heights unprecedented since the 1930s. Polls reveal the widespread unpopularity of the great and the good in the European project, and growing disenchantment with the EU. This is not good news. In some of my comments on this blog, I indicate what an alternative route may be, but this will require a longer position paper.

About Jonathan Story, Professor Emeritus, INSEAD

Jonathan Story is Emeritus Professor of International Political Economy at INSEAD. Prior to joining INSEAD in 1974, he worked in Brussels and Washington, where he obtained his PhD from Johns Hopkins School of Advanced International Studies. He has held the Marusi Chair of Global Business at Rensselaer Polytechnic Institute, and is currently Distinguished Visiting Professor at the Graduate Schoold of Business, Fordham University, New York. He is preparing a monograph on China’s impact on the world political economy, and another on a proposal for a contextual approach to business studies. He has a chapter forthcoming on the Euro crisis. His latest book is China UnCovered: What you need to know to do business in China, (FT/ Pearson’s, 2010) ( His previous books include “China: The Race to Market” (FT/Pearsons, 2003), The Frontiers of Fortune, (Pitman’s, 1999); and The Political Economy of Financial Integration in Europe : The Battle of the Systems,(MIT Press, 1998) on monetary union and financial markets in the EU, and co-authored with Ingo Walter of NYU. His books have been translated into French, Italian, German, Spanish, Chinese, Korean and Arabic. He is also a co-author in the Oxford Handbook on Business and Government(2010), and has contributed numerous chapters in books and articles in professional journals. He is a regular contributor to newspapers, and has been four times winner of the European Case Clearing House “Best Case of the Year” award. His latest cases detail hotel investments in Egypt and Argentina, as well as a women’s garment manufacturer in Sri Lanka and a Chinese auto parts producer. He teaches courses on international business and the global political economy. At the INSEAD campus, in Fontainebleau and Singapore, he has taught European and world politics, markets, and business in the MBA, and PhD programs. He has taught on INSEAD’s flagship Advanced Management Programme for the last three decades, as well as on other Executive Development and Company Specific courses. Jonathan Story works with governments, international organisations and multinational corporations. He is married with four children, and, now, thirteen grandchildren. Besides English, he is fluent in French, German, Spanish, Italian, reads Portuguese and is learning Russian. He has a bass voice, and gives concerts, including Afro-American spirituals, Russian folk, classical opera and oratorio.
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1 Response to Euroland’s travails

  1. David Fielding says:

    Very impressive Jonathan! Don’t know how you find the time to dig so deep and so widely.
    David Fielding


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