Hansa 2.0 – A Return to the Golden Age of trade?

Summary:

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.

• Alternative Source 1

ESO Records

New Hanseatic League https://www.europeansources.info/record/new-hanseatic-league/

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