Dimitris Sotiropoulos notes quite rightly that the Euro is not just a currency, but a mechanism: “It has set up a particular form of symbiosis among different capitalist economies” (Sotiropoulos 2012, 66). But what is the material nature of this “symbiosis among different capitalist economies”?
This key issue had already been raised by John Grahl in 2003. He stressed that globalisation and the associated process of European integration More
The long credit crunch that began in the Atlantic world in August 2007 is strange in its extraordinary scope and intensity. Mainstream discourse, referring to a ‘sub-prime’ crisis, implies that the credit crunch has been caused, rather than triggered, by a bubble in the real economy. This is at best naïve: after all, the bursting of an equally large bubble in the Spanish housing market led to no such blow-out in the domestic banking system More