The Euro Crisis was the inevitable result of the Global Crisis which I set out to discuss in my Global Minotaur. However, the way Europe’s leadership mishandled it gave it a significance all of its own. In particular, Europe’s denial that there was something terribly wrong with the Eurozone’s architecture underpinned the stubborn commitment to austerity coupled with new institutions that proved toxic because they were constructed in the image of the Eurozone’s initial, highly problematic, architecture.
- EURO CRISIS & EUROPE’s DENIAL: A series of posts cataloguing the comedy of cruel errors that amplified the Euro Crisis, with hideous effects for the people of Europe
- THE MODEST PROPOSAL FOR RESOLVING THE EURO CRISIS: Presenting this proposal (co-authored by Stuart Holland, James Galbraith and myself) was the original reason for creating this blog. It constitutes our answer to those who, with no rhyme or reason, claim that there was/is no alternative to the combination of Bailouts & Austerity that has put Europe on a path to deconstruction
- EUROPE’S DEMOCRACY IMPERILLED: As in the 1930s, a large-scale, systemic financial crisis, when followed by a spectacular political failure to address it, has the potential of badly damaging liberal democracy. It is not just Golden Dawn in Greece. The spectre of authoritarianism, verging on totalitarianism, is all over Europe – as hapless politicians are struggling to impose impossible policies upon Europe’s disheartened peoples.