Is the Eurocrisis Over?

After years of turbulence in the Eurozone that at some point led to existential fears about the survival of the monetary union, peace and tranquility seem to have returned in 2014. This leads to the question of whether the Euro crisis is over. In official circles the view prevails that this is the case and that the return of tranquility is the result of the institutional changes that have been introduced since the start of the sovereign debt crisis in 2010. Prominent among these institutional changes is the setup of tighter discipline in fiscal policies, the monitoring of macroeconomic imbalances and the banking union.