The continuing economic crisis has revealed both the inadequacies and the limits of the process of neoliberal European integration. It is an integration centered on financial liberalization and a monetary union, which is itself enveloped by a mere replica of the German Bundesbank under the title European Central Bank. It is a recession-bias process that […]
Posts Tagged ‘Eurozone crisis’
The Deepening European Crisis
May 22nd, 2013 by Michael Burke.The economies of the European Union and the Euro Area both contracted in the 1st quarter of 2013. The renewed contraction in GDP began in mid-2011 and has now run for 18 months on both cases. But, as Chart 1 (above) shows, the recovery from the depths of the recession in both cases was short-lived […]
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European Socialist leader sees danger in austerity
Apr 22nd, 2013 by Ben Folley.Europe’s social democrats need to recognise the consequences of imposing austerity on their own voters. Support is declining, or at best stagnating, as parties fail to offer an inspiring alternative to spending cuts. But there is evidence in Brussels that some are taking this seriously. In some measured comments, Hannes Swoboda MEP, the leader of […]
