The political economy of the “Euro-system”
This article seeks to show how the current crisis of the Euro zone stems from the original design faults of the “Euro-system”, whose contradictions, revealed by the financial crisis, are of a structural nature. This demonstration is carried out through a statistical and analytical methodology which gives this study a “technical” nature. But it is a necessary stage for the development of a more solid diagnosis of possible exits from the current crisis, or rather from its specifically European dimension. This crisis has deeper roots than the symptom through which it has been expressed, namely a sovereign debt crisis. Thus, there are only two responses adapted to the structural nature of the European crisis: either the breakup of the Euro-system, or its radical refoundation. The others confine themselves to staggering the contradictions over time or programming a socially unacceptable regression.
<a href="http://www.internationalviewpoint.org/spip.php?rubrique198" rel="directory">IV451 August 2012</a>
<a href="http://www.internationalviewpoint.org/spip.php?mot10" rel="tag">Europe</a>,
<a href="http://www.internationalviewpoint.org/spip.php?mot49" rel="tag">Economy</a>,
<a href="http://www.internationalviewpoint.org/spip.php?mot297" rel="tag">European Union</a>