The Political Economy of Monetary Disunion

This book reassesses the Greek financial crisis of 2010, by placing it within the broader crisis of the European Economic and Monetary Union. Whilst it has been broadly accepted amongst academics and policymakers that the Eurozone turmoil originated in the banking sector and then deterritorialized towards peripheral Economic and Monetary Union countries, the mechanisms implemented for this transformation remain understudied. Using Deleuze and Guattari's concept of the assemblage in a non-performative way, this book addresses this gap by analyzing the mechanisms used in Greece and the Economic and Monetary Union to transfer the financial and moral responsibility of the crisis from the private to the public sector. Combining insights from political economy, economics and social studies of finance, it provides a critique of the austerity policies imposed by European institutions, and discusses the ‘green and just transformation’ as the best way forward to overcome the ongoing Eurozone problems. It also provides a critical comparison of the EU’s strategies for addressing the Eurozone turmoil and the economic crisis in 2020, caused by the coronavirus pandemic. It will appeal to students and scholars of political economy, public administration, economics, and European politics.