Neofunctionalism revisited: integration theory and varieties of outcomes in the Eurocrisis

The Euro crisis has produced a plethora of new institutions, policies, and projects to reform the Euro Area. This paper offers a theoretical and empirical contribution in the study of the New Economic Governance. By building on insights from classical Neofunctionalism and Liberal Intergovernmentalism, the paper revisits the static component of Philippe Schmitter’s ‘Neo-Neofunctionalist’ framework. Static Neo-Neofunctionalism is then applied as a means to provide a systemic interpretation of crisis-led integration in the Euro crisis. The large majority of episodes of crisis-led integration in the 2011–2016 years is included in the analysis. In assessing Neo-Neofunctionalist expectations on the New Economic Governance, the paper matches analysis of legal documents with the results of a dedicated Expert Survey on the EMU governance fielded in October 2018.