|Author (Person)||Lewicki, Grzegorz|
|Publisher||Polish Economic Institute|
|Publication Date||January 2019|
Faced with numerous crises, the EU must reinvent its grand economic plan. With Brexit, which will have economic repercussions across Europe, the matter is urgent. Following the breakdown of Franco-German cooperation on the Eurozone, the Netherlands and other northern EU countries formed the New Hanseatic League (or the Hansa 2.0) – a coalition of smaller states that advocates a free-trade oriented and fiscally conservative Eurozone.
There are striking structural similarities between the Hansa 2.0 and another successful intra-EU project: the Three Seas Initiative initiated by Poland and Croatia. Both represent a new organisational adaptation of the megatrend known as the “neo-medievalisation” of Europe. Drawing on the wisdom of the medieval merchants of the original Hanseatic League, the Hansa 2.0 does not focus on a common currency, but rather on pragmatic projects to make the European market more competitive and growth-oriented.
The Hansa 2.0’s economy accounts for 13.7% of the EU-28’s GDP, almost twice as much as the Three Seas Initiative’s. If Poland joined, it would boost the Hansa’s economic weight by more than 3%. The original League started modestly, as a trust-based association focused on economic freedom. Based on a similar trust, the Hansa 2.0 could inspire policymakers as they start a new chapter of European integration.
|Subject Categories||Politics and International Relations|
|Subject Tags||Regional Dimension|
|Countries / Regions||Denmark, Estonia, Finland, Ireland, Latvia, Lithuania, Netherlands, Sweden|
|International Organisations||European Union [EU]|