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ResearchGroupattheInstituteofEuropeanStudies,CICIR
ImpactoftheSovereignDebtCrisisonE.U.
Forelg‘nPPoolliicc~y
ResearchGroupattheInstituteofEuropeanStudies,CICIR
1rl1hesovereigndebtcrisishasbeenEurope’Smostseriousfinancialcrisis.
_--Overthepasttwoyears,ithashad adrasticimpactontheE.U.’S
economic,socialand politicaldevelopment,and hasbroughtprofound
changes.Manyscholars,athomeandabroad,havefocusedtheirattention
onthecrisisitselfanditsimpactsontheglobaleconomy andEuropean
integration.Thispaperanalyzestheimpactofthesovereigndebtcrisison
E.U.foreignpolicyandwhatchangeshaveensued.
ThesovereigndebtcrisisiSfirstofallaneconomiccrisis.Themost
obviousimpactof也ecrisisonE.U.’Sforeignaffairsarisesfrom economic
reasons.ThecrisishasbadlyhittheE.U.economy,and inresponseE.U.
memberstateshave largely adopted fiscalausterity policiesto reduce
deficitsanddebtsandsuppressconsumption and governmentspending.
Thesehaveinhibitedeconomicgrowth.TheGreekeconomyhasbeen in
recession forfourconsecutive years since 2008.The entire eurozone
economy,madeup 0f17memberstates,isexpectedtoexperienceonly
minorgrowthin2012.Overthesameperiod.theE.U.unemploymentrate
hasbeenrising.TheunemploymentrateinM arch 20l2reachedarecord
highof10.9% .andunemploymentratesof “troubledcountries”suchas
Theresearchgroup consistsofsixmembers:ZhanJian,AssociateResearchProfes—
sorandDeputyDirectoroftheInstituteofEuropeanSutdies,CICIR,WangLi,Asso—
ciateResearchProfessorattheInstituteofEuropeanSutdies,CICIR,andfourre—
searchersattheCICIR:WangJiannan,YangFang,QuBingandLiChao.
86 C 、,01.22 No.4
万方数据
ImpactoftheSovereignDebtCrisisonE.U.ForeignPolicy
Greece SpainandPortugalareevenhigher.‘Becauseofthis,theE.U.and
itsmemberstateshaveal1steppedupeffortStopromoteeconomicgrowth
andeaseunemployment.Sinceencouragingexportshasbeen theprimary
meansofpromotingeconomicgrowth,theE.U.hasalsobeensteppingup
itscommercial
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