A global response

The need for a global response to a global problem was advocated by Durão Barroso who pointed to an international leadership vacuum which in his opinion and under other circumstances would naturally be taken on by the United States America.

On the issue of the existential crisis facing the European Union, Durão Barroso said it was more down to a lack of coordination and understanding between the countries that made up the EU but admitted that from his point of view were responding to the crisis as fast as they could within a structure as complex as the EU.
“Complex systems take time but are more effective and sustainable than alternatives. The EU is facing an existential crisis but at the end of the day, if there is leadership there will be a commitment. What we have now isn’t ideal, but it is what it is” he said.
The Former Finnish Prime Minister, Alexander Stubb who spoke on the Economy panel said that the crisis that the world was going through did not have a parallel with previous crises.
“This crisis touches everyone, it has a global, national, regional, local and personal dimension and it is this which makes it unique” he said highlighting three phases of the problem: “the crisis, the chaos and the less than effective solution that the European Union, “as always” comes up with after the initial reaction of each country.
“Countries react by turning inwards and protecting themselves by taking a nationalist stance,” he said.
“We should never underestimate the capacity of European leaders to not communicate or communicate poorly, but credit lines and support measures have already been announced and I think we are now starting to see the European Union beginning to act,” said the former Finnish prime minister.
Researcher Marina Costa Lobo warned of a looming crisis of nationalism and populism among fragile EU countries. “Governments are not controlling the economic policies of their countries which calls for a common economic policy that is solid and correct asymmetries. The economic crisis that has been predicted could be worse (than the previous one) and the EU must not ignore its responsibilities and lose direction” she said.