The Political Economy of Monetary Disunion

This book reassesses the Greek financial crisis by placing it within the broader crisis of the European Economic and Monetary Union (EMU). Whilst it has been broadly accepted amongst academics and policymakers that the Eurozone turmoil originated in the banking sector and then deterritorialized-in terms of form and space-towards peripheral EMU countries, the mechanisms implemented for this transformation remain understudied. This book addresses this gap by identifying and analyzing the mechanisms used in Greece and the EMU 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 transition' as the best way forward to overcome the Eurozone challenges. It will appeal to students and scholars of political economy, cultural studies of finance, economics, and European politics.