Greece, global fault-lines and the disintegrative logics of Germany’s primacy in Europe

Book chapter


Fouskas, V. 2016. Greece, global fault-lines and the disintegrative logics of Germany’s primacy in Europe. in: Subasat, Turan (ed.) The Great Financial Meltdown: Systemic, Conjunctural or Policy-Created? UK Edward Elgar Publishing Ltd.. pp. 328-340
AuthorsFouskas, V.
EditorsSubasat, Turan
Abstract

Post-Keynesian, heterodox and Marxist political economists have rightly argued that the eurozone crisis is not a fiscal crisis but a balance of payments crisis, mainly caused by the pivotal position of Germany in the European Monetary Union (EMU) and its neo-mercantilist model of growth (low wage, low inflation and export-led). This view, however, sees the split between core and periphery in the European Union as something created with the introduction of the EMU in 1999. This chapter contends that this is not the case. By putting forth a global fault-lines historical perspective and focusing on the case of Greece, it is argued that the problem is not the introduction of the EMU but the geopolitical and macroeconomic asymmetries between core and periphery in Europe since the inception of what vaguely – and even inaccurately – can be defined as ‘European modernity’. Global fault-lines offer a macro-historical and macroeconomic understanding of crises seen as structural events generated by the evolving and contradictory tendencies of capitalism as a world system. It is not just a political economy perspective but a perspective that encompasses many instances of the social, especially geopolitical and geocultural structures.

Book titleThe Great Financial Meltdown: Systemic, Conjunctural or Policy-Created?
Page range328-340
Year2016
PublisherEdward Elgar Publishing Ltd.
Publication dates
Print24 Jun 2016
Publication process dates
Deposited06 Oct 2016
Place of publicationUK
Series New Directions in Modern Economics
ISBN9781784716486
9781784716493
Digital Object Identifier (DOI)doi:10.4337/9781784716493.00029
Additional information

This is a draft chapter. The final version is available in, The Great Financial Meltdown: Systemic, Conjunctural or Policy-Created?, edited by Turan Subasat, published in 2016 by Edward Elgar Publishing Ltd. The material cannot be used for any other purpose without further permission of the publisher, and is for private use only.

Accepted author manuscript
Permalink -

https://repository.uel.ac.uk/item/85076

  • 2
    total views
  • 19
    total downloads
  • 2
    views this month
  • 8
    downloads this month

Related outputs

Brexit demands a coherent new industrial policy
Fouskas, V. and Roy-Mukherjee, S. 2019. Brexit demands a coherent new industrial policy. Financial Director.
Neo-liberalism and Ordoliberalism – One or Two Critiques? An Introduction
Fouskas, V. and Roy-Mukherjee, S. 2019. Neo-liberalism and Ordoliberalism – One or Two Critiques? An Introduction. Critical Sociology.
Book Review: Costis Hadjimichalis, Crisis Spaces: Structures, Struggles, and Solidarity in Southern Europe, New York: Routledge, 2018. ISBN: 9781138184503 (cloth); ISBN: 9781315645131 (ebook)
Fouskas, V. 2019. Book Review: Costis Hadjimichalis, Crisis Spaces: Structures, Struggles, and Solidarity in Southern Europe, New York: Routledge, 2018. ISBN: 9781138184503 (cloth); ISBN: 9781315645131 (ebook). AntipodeFoundation.org.
Placing Austerity in Context: The Greek Case Between Neo-Liberal Globalisation and an Ordoliberal EU
Fouskas, V. 2019. Placing Austerity in Context: The Greek Case Between Neo-Liberal Globalisation and an Ordoliberal EU. in: Talani, Leila Simona and Roccu, Roberto (ed.) The Dark Side of Globalisation Palgrave Macmillan. pp. 147-169
The Disintegration of Euro-Atlanticism and New Authoritarianism: Global Power-Shift
Fouskas, V. and Gökay, Bülent 2018. The Disintegration of Euro-Atlanticism and New Authoritarianism: Global Power-Shift. Palgrave Macmillan, Cham.
Marksizam I Međunarodni Odnosi
Fouskas, V. 2018. Marksizam I Međunarodni Odnosi. in: Jović, Dejan (ed.) Marksističke Teorije Međunarodnih Odnosa Fakultet političkih znanosti, Sveučilišta u Zagrebu.
Neo-Liberalism and Ordoliberalism: A Critique of Two Forms of Imperialism and Authoritarianism
Fouskas, V. 2018. Neo-Liberalism and Ordoliberalism: A Critique of Two Forms of Imperialism and Authoritarianism. Critique. 46 (3), pp. 397-421.
Kissinger and the Business of Government: The Invasion of Cyprus, 15 July-20 August 1974
Mallinson, William and Fouskas, V. 2018. Kissinger and the Business of Government: The Invasion of Cyprus, 15 July-20 August 1974. The Cyprus Review. 2017, pp. 111-134.
Introduction and Acknowledgments: What's in the Greek Cauldron?
Fouskas, V. and Dimoulas, Constantine 2018. Introduction and Acknowledgments: What's in the Greek Cauldron? in: Fouskas, Vassilis K. and Dimoulas, Constantine (ed.) Greece in the 21st Century: The Politics and Economics of a Crisis Routledge.
Imperial Bondage: Austerity in Greece, 2008–2018
Fouskas, V. and Dimoulas, Constantine 2017. Imperial Bondage: Austerity in Greece, 2008–2018. in: Sturm, Roland, Griebel, Tim and Winkelmann, Thorsten (ed.) Austerity: A Journey to an Unknown Territory. Discourses, Economics and Politics Nomos. pp. 191-212
Class and Politics in the Greek Debt Crisis
Fouskas, V. and Dimoulas, Constantine 2016. Class and Politics in the Greek Debt Crisis. in: Talani, Leila (ed.) Europe in Crisis Palgrave Macmillan. pp. 125-157
Austerity and Growth in Europe: Germany’s Impossible Mission
Fouskas, V. and Roy-Mukherjee, S. 2017. Austerity and Growth in Europe: Germany’s Impossible Mission. Croatian Political Science Review. 53 (4), pp. 7-29.
The Brexit vote: A financial thunderclap with long-term consequences
Fouskas, V. 2016. The Brexit vote: A financial thunderclap with long-term consequences. The European Financial Review.