The application of the principle of European Solidarity: Another victim of the EU Financial Crisis?

Abstract

The focus of this paper is on the application of the principle of European Solidarity in the Euro area through the European Stability Mechanism (ESM), since the beginning of the EU financial crisis. Along this background the paper will inter alia, answer the questions of; whether the principle of solidarity is undermined rather than promoted, ending in being the victim of the Eurozone crisis whose mechanisms, namely the ESM and/or the comprehensive EU strategy, merely grow atomisation and national introversion instead of cooperation and unification.