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Critically assess the EU’s response to the Eurozone crisis

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SSMENT 2: Students will submit a 3000 word essay. This form of assessment counts for 80% of the overall mark. The submission deadline is Tuesday 7 April 2020, 12pm  Essay title: "Critically assess the EU’s response to the Eurozone crisis. To what extent does it resemble certain authoritarian principles of ordoliberalism?” [Answer by taking into account the crisis Treaties of the Fiscal Compact and the European Semester; the key features of ordoliberalism and European integration in a historical perspective; and the way in which ordoloberalism, and to a certain extent neoliberalism, attempt at achieving the de-politicisation of the economic sphere hollowing out democracy at national level]Students are expected to discuss 15-20 sources, which must include books and journal a

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Introduction 

            With time being both financial and political conditions are changing, and this is true all over the globe. European Union (EU) is not an exception to it and is facing several charges in the previous few decades. The Eurozone and financial crisis are one of the most contagious changes that have entrenched several new aspects within this geographical periphery. The same has generated a range of positive and negative impacts on the existing financial and political trend and situation. Utilizing which, several changes had been introduced within the perimeter of the EU. Moreover, these situations have made the responsible authority of the EU to search for better processes and regulatory aspects for controlling the entire changing process.

This study has aimed to produce an understandable account in regards to the crisis faced by Eurozone along with a critical assessment of the response provided by the EU towards this calamity. On the other hand, the involvement of authoritarian principles of ordoliberalism is also analysed here in illustration of each component associated with the Eurozone crisis.

Analysis and discussion on Eurozone crisis and authoritarian principles of ordoliberalism 

Background of the euro zone crisis

The euro zone crisis did not erupt in the clear skies, and before emerging the disaster, there were different

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