"This paper applies a recently developed ‘structural-political economy' (SPE) framework to study centrifugal and centripetal forces in two of the crises that impacted on the European integration process: the financial crisis of 2008/9 and its aftermath and the Covid-19 crisis. It emphasises that the cumulative nature of the impact of these two crises forces shifts in interest positions of important political actors (countries, sectors, social constituencies) to address issues of ‘systemic instability' which pushes innovations in the policy instruments that become available at the EU level. Bargaining processes that characterise the negotiations and outcomes of these crisis responses are complex, they reflect differences in size and urgencies to come to agreements, and they have themselves differentiating impacts on relevant political actors."

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