© 2020

Walking the Highwire

Rebalancing the European Economy in Crisis


Table of contents

  1. Front Matter
    Pages i-xxv
  2. Setting the Scene

    1. Front Matter
      Pages 1-1
    2. Olli Rehn
      Pages 3-24
  3. Managing the Crisis

    1. Front Matter
      Pages 45-45
    2. Olli Rehn
      Pages 47-67
    3. Olli Rehn
      Pages 69-81
    4. Olli Rehn
      Pages 103-122
    5. Olli Rehn
      Pages 123-142
    6. Olli Rehn
      Pages 143-154
    7. Olli Rehn
      Pages 155-167
    8. Olli Rehn
      Pages 169-179
  4. Turning the Tide

    1. Front Matter
      Pages 181-181
    2. Olli Rehn
      Pages 201-215
    3. Olli Rehn
      Pages 217-234
    4. Olli Rehn
      Pages 257-266

About this book


Walking the Highwire tells the story of the Eurozone Crisis from the perspective of the former Vice-President of the European Commission who was responsible for Economic and Monetary Affairs in 2010-2014. It is a comprehensive European account that covers both events and decisions in Brussels and Frankfurt and in the member states, both in distressed countries and creditor states. It also provides an economic-political analysis of the crisis and its management, recognising that the Euro was created politically, and saved politically. 

Thoroughly researched and based on economic analysis of the time, reports on various meetings and the author's own speaking notes and diary, this book begins with a narrative of crisis management 2009-2012, before moving on to address the beginning of the recovery from 2013-2014. It concludes with the lessons learnt from the crisis and a programme for reform of the Eurozone in the 2020s, with contemporary policy relevance.

This is an entertaining and engaging account which will be of interest to a wide audience: scholars and students, practitioners and commentators of the Eurozone. 


The Euro Crisis Eurozone reform Rebalancing of the European economy The European Union European Financial Stability Facility Intergovernmentalism European Economic Recovery Plan Global Financial Crisis Sovereign debt Grexit Economic governance Brexit Populism in Europe European Stability Mechanism Macroeconomic imbalances Economic and Monetary Union Financial accelerator theory Comprehensive Crisis Response

Authors and affiliations

  1. 1.HelsinkiFinland

About the authors

Olli Rehn is former European Commissioner for Economic and Monetary Affairs and the Euro (2010-2014). He was the European Commissioner for Enlargement from 2004 to 2010, in charge of the accession process of prospective new member states to the European Union (EU) and stabilisation in the Western Balkans. He served as Minister of Economic Affairs (2015-2016) and is a former Member of European and Finnish Parliaments. Since July 2018, he is the Governor of the Bank of Finland. He holds a doctorate from the University of Oxford in international political economy.



Bibliographic information