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The eurozone has lurched from crisis to calamity. With Greece, Portugal and Ireland driven to the brink of economic catastrophe, and the threat that other EU countries are soon to follow, the consequences for the global economy could be dire. In The Great Eurozone Disaster, Heikki Patomäki provides a captivating narrative about how Europe ended up in its present predicament and offers a radical new vision for 'democratic global Keynesianism' as the most viable way out of the current crisis.

Financial crises --- Eurozone. --- Monetary policy --- Crises financières --- Zone euro --- Politique monétaire --- European Union --- European Union countries --- Pays de l'Union européenne --- Economic policy --- Politique économique --- Euro area --- Euro zone --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- European Union. --- E.U. --- Economic policy. --- Monetary unions --- Crises --- International finance --- Europe --- EEC / European Union - EU -Europese Unie - Union Européenne - UE --- 334.151.20 --- Economische en monetaire unie van de Europese Gemeenschappen: algemeenheden --- International economics

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Critical realism. --- International relations --- International relations --- World politics. --- Methodology. --- Social aspects.

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If the plans concerning EMU will be realised, by 2002 national currencies will be replaced by the Euro and national central banks will be partially replaced by the European Central Bank. The Politics of Economic and Monetary Union starts with the argument that EMU is more a political than an economic project. It develops this theme by addressing five different questions. First, precisely what is the general role of EMU in the globalising political economy? Second, how EMU will change the power relations and the relationship between `political' and `economic'? Third, what effects will EMU have on generally accepted values - including for example efficiency, self-determination, and democracy? Fourth, how does the EMU-related politics of symbols - including money - take part in constructing political identities? And last, but certainly not least, what effects EMU will have on the social and political dimension of the Union and thus also on its legitimacy? The politics of EMU includes many dimensions. The book tries to explain the hegemony of the neoliberal and German vision of Europe in the context of recent development in the global political economy. It assesses the consequences of this hegemony and the possibility for alternatives from a variety of perspectives. In many chapters, it is also argued that the legitimation problems of the Union may turn into an acute crisis also because of EMU. We should expect an actualised crisis to lead to a transformation of the Union.

European Union --- Monetary unions --- Congresses --- Europe --- European Union countries --- Economic integration --- Economic policy --- AA / International- internationaal --- 334.151.20 --- Economische en monetaire unie van de Europese Gemeenschappen: algemeenheden. --- Common currencies --- Currency areas --- Currency unions --- Optimum currency areas --- Currency question --- Money --- Economische en monetaire unie van de Europese Gemeenschappen: algemeenheden --- E.U. --- Macroeconomics. --- International economics. --- Macroeconomics/Monetary Economics//Financial Economics. --- International Economics. --- Economic policy, Foreign --- Economic relations, Foreign --- Economics, International --- Foreign economic policy --- Foreign economic relations --- Interdependence of nations --- International economic policy --- International economics --- New international economic order --- International relations --- Economic sanctions --- Economics --- International economic integration. --- Common markets --- Economic integration, International --- Economic union --- Integration, International economic --- Markets, Common --- Union, Economic --- International economic relations --- European Union - Congresses --- Monetary unions - Europe - Congresses --- Europe - Economic integration - Congresses --- European Union countries - Economic policy - Congresses

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