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The Geopolitical Implications of the Eurozone Crisis: The Case of the Common Security and Defence Policy

Daniel Fiott

The eurozone crisis is not only calling into question the European Union's economic strength but also its ability to be a global player. Austerity measures in many European countries are seeing cuts being made to defence budgets, and the need to control sovereign debt means that players such as China have increasing importance alongside traditional partners such as the United States. The eurozone crisis, raising the prospects of a "two-track" European Union should a treaty change be necessary, also raises important questions for EU foreign policy. In short, there are numerous threats to both EU foreign, security and defence policies coming from the eurozone crisis at a time when international crises such as the Arab transition continue. This paper proposes to analyse the longer-term geopolitical consequences of the eurozone crisis. Will the eurozone crisis jeopardise EU foreign policy or, if a stronger eurozone core should emerge, will it lead to more unity? What are the foreign policy and defence implications of the crisis: will CSDP have to give way to NATO in the face of defence cuts, or will a truly European solution to European geopolitical concerns emerge?

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