To be sure, the union was designed to establish a transnational capitalist bloc capable of competing on the world market. The euro’s adoption moved further in that direction. However, nation-states — in economic competition with one another — created this bloc to begin with. It is therefore insufficient to focus only on capital’s transnationalization; we must
With the implementation of the European single market and the Maastricht Treaty, European integration was established as a neoliberal project for the long run. The Stability- and Growth Pact, the fundamental freedoms of the single market and the European monetary union, among other elements, constituted a framework that has fueled austerity policies, the
No one believed in this victory. Even most of those who led the campaign for Britain's withdrawal from the European Union did not expect that on the morning of June 24, 2016 it would be announced that the majority voted in favor of a break with the Brussels bureaucracy
After reviewing the main determinants of the current eurozone crisis, this paper discusses the feasibility of introducing fiscal currencies as a way to restore...