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The Great Eurozone Disaster: From Crisis to Global New Deal
Author(s): Heikki Patomaki (Author)
- Publisher: Zed Books
- Publication Date: 14 Mar. 2013
- Edition: Illustrated
- Language: English
- Print length: 288 pages
- ISBN-10: 1780324790
- ISBN-13: 9781780324791
Book Description
In
The Great Eurozone Disaster, Heikki Patomäki dissects the current crisis, revealing its origins lie in the instability that has driven the process of financialisation since the early 1970s. Furthermore, the public debt crises in the European deficit countries have been aggravated rather than alleviated by the responses of the Commission and leaders of the surplus countries, especially Germany.Providing a captivating narrative about how Europe ended up in its present predicament, Patomäki presents a radical new vision for ‘global economic democracy’ as the only viable way out of the current crisis.
Editorial Reviews
Review
In The Great Eurozone Disaster, Heikki Patomäki has given us an indispensable book about the twin crises of Europe and of global capitalism. Its overview of the Eurozone crisis shows how reliance on the financial theory of market efficiency both guided the Eurozone’s construction and led to the current sovereign-debt scare. Its clarity will benefit newcomers to this topic; experts will appreciate its institutional nuances. By sketching out three future scenarios for Europe, the book initiates a sorely needed debate about the twin futures of global economic governance and Keynesian policy. –Gary Dymski, Leeds University
‘Analyses of the euro crisis need to take full account of the role of both the economics and politics of Economic and Monetary Union. This book meets these needs beautifully, in an original and easy-to-understand manner.’ –Pekka Sauramo, Senior Researcher, Labour Institute for Economic Research
