Archiv der Kategorie: Euro crisis

Marica Frangakis: Inequality and Financialisation: The Case of the EU

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After the collapse of the Bretton Woods system and the elimination of the system of fixed exchange rates, global finance made new inroads into the world economy, while the deregulation of financial services marked the beginning of the era of financialisation. Inequality in the distribution of income and wealth feeds the process of financialisation and is fed by it. It is a two-way relationship, which has favoured the meteoric rise of the More

Lutz Brangsch: The “Hard Core” of European Integration

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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

Eric Toussaint: The Euro Crisis and Contradictions between Countries in the Periphery and Centre of the European Union

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The crisis that started in the United States in 2007-2008, hit the European Union head on in 2008, and has been causing major problems in the eurozone since 2010. Banks from the strongest European countries are responsible for spreading this plague from the United States to Europe, because they had invested massively in structured financial products. It is important to explain why this crisis has struck the European Union and the eurozone harder than the United States. More