The Currency of Solidarity

Vestert Borger is Assistant Professor of European Union Law at Leiden University and was previously Niels Stensen Fellow at Yale Law School between 2019 and 2020. He specialises in the law on the single currency and constitutional law and received the 2019 European Law Faculties Association Thesis Award for his dissertation on the transformation of the euro.

• Prologue; Part I. Solidarity between the Member States: 1. The concept of solidarity; 2. Solidarity between the member states; Part II. The Original Stability Conception: 3. Committing to stability; 4. Law and economic wisdom; Part III. The New Stability Conception: 5. The shift in solidarity; 6. Contractual change and central bank action; 7. Reconciling the contract with the treaties; 8. Conclusion: Preserving the contract in an emergency; Bibliography; Index.

'The Currency of Solidarity … aims to contribute to the academic analysis and debate on EU constitutional change through a set series of cumulative events that took place in Brussels, Luxembourg, and many other EU capitals in response to critical market developments when many feared the end of the European project. At times, the narrative of the book moves out of the law together, and helps the reader understand the historical and political backdrop. For ardent lawyers … this weaving in and out of the law is unnatural. Yet, this style of Borger's writing through which a particular narrative is adopted is a considerable achievement … This is one of the most 'in context' books in EU law that has been published to date. It will be interesting to see if EU legal scholarship continues going down this path.' Dr Graham Butler, European Law Review