The Great Eurozone Disaster

Resumen del libro

The last couple of years have seen the eurozone lurch from crisis to calamity. With Greece, Portugal and Ireland already driven to the brink of economic catastrophe, and the threat that a number of other countries in the EU are soon to follow, the consequences for the global economy are potentially dire. In Disaster in Euroland, Heikki Patomaki forensically dissects the current crisis, revealing its origins lie in the instability and crises that have 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 orthodox responses of the Commission and leaders of the surplus countries, especially Germany. Providing a coherent and captivating narrative about how Europe ended up in its present predicament, Patomaki avoids the usual choice between nationalist criticism of the EU and mainstream Europeanism that takes for granted the current EU design. Instead, the book argues that we can learn from Third World debt experiences, and presents a democratic cosmopolitan alternative to all forms of parochialism.