The Political Economy of Monetary Disunion

This book reassesses the Eurozone financial crisis of the 2010s, and critically compares EU strategies for addressing it with those adopted during the Covid-19 and economic crises of the 2020s. Whilst it has been broadly accepted amongst academics and policymakers that the Eurozone turmoil originated in the banking sector and then deterritorialized towards peripheral Economic and Monetary Union countries, the mechanisms implemented for this transformation remain understudied. Using a non-performative reading of Deleuze and Guattari's concept of the assemblage, the book analyses the mechanisms used in Greece and the Economic and Monetary Union to transfer the financial and moral responsibility of the crisis from the private to the public sector. Combining insights from political economy, economics and social studies of finance, this investigation critiques the austerity policies imposed by European institutions, and identifies the 'green and just transformation' as the best way forward to address the ongoing Eurozone problems. The book will appeal to students and scholars of political economy, public administration, economics, and European politics.

Compares different EU strategies for addressing economic crises in 2010 and 2020 Analyses mechanisms used during the Eurozone crisis to transfer financial responsibility Assesses green transformation as a possible solution for several Eurozone challenges

Autorentext

Radman elmi is an institutional advisor and academic specialized in green and circular economy. He has previously worked at the Birmingham Business School, University of Birmingham and the University of Leicester, UK.

Klappentext

This book is an exciting and original exploration in the political economy of collective responsibility. Paradoxically but revealingly, it largely owes its global reach to the author's sympathetic portrayal of a small European country buffeted by enduring geopolitical inequality.

Michael Herzfeld, Professor, Harvard University, USA, and Leiden University, The Netherlands.

This book reassesses the Eurozone financial crisis of the 2010s, and critically compares EU strategies for addressing it with those adopted during the Covid-19 and economic crises of the 2020s. Whilst it has been broadly accepted amongst academics and policymakers that the Eurozone turmoil originated in the banking sector and then deterritorialized towards peripheral Economic and Monetary Union countries, the mechanisms implemented for this transformation remain understudied. Using a non-performative reading of Deleuze and Guattari's concept of the assemblage, the book analyses the mechanisms used in Greece and the Economic and Monetary Union to transfer the financial and moral responsibility of the crisis from the private to the public sector. Combining insights from political economy, economics and social studies of finance, this investigation critiques the austerity policies imposed by European institutions, and identifies the 'green and just transformation' as the best way forward to address the ongoing Eurozone problems. The book will appeal to students and scholars of political economy, public administration, economics, and European politics.

Radman elmi is an institutional advisor and academic specialized in green and circular economy. He has previously worked at the Birmingham Business School, University of Birmingham and the University of Leicester, UK.

Inhalt

Chapter 1: Introduction.- Chapter 2: Post-Structuralist Critical Political Economy in the Epoch of Sovereign Debt.- Chapter 3: EMU, Crisis and Different Explanatory Narratives.- Chapter 4: The ECB and the Greek Public Sector.- Chapter 5: Attacks on the Eurozone Sovereign Bonds.- Chapter 6: Ordoliberal Legacies in the Eurozone: Sovereignty and Governmentality.- Chapter 7: Austerity Assemblage: Compensating the Rich and Discipline the Poor.- Chapter 8: Conclusion.