Vassilis K. Fouskas: Sovereign Debt Crisis and Peripheral Capitalism

This article calls on the need for scholarly studies to compare and contrast the failure of neo-liberal policies in Eastern Europe and the Balkans in the 1990s in view of the sovereign debt crises in the periphery states of the EU today. It explores the way(s) in which “shock therapy” financial statecraft in former Yugoslavia and elsewhere did not alleviate the debt problem but, quite the opposite, augmented it. The international mechanism in operation in the past, as well as today, has not been and is not real development, modernisation More

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