The Great Eurozone Disaster: From Crisis to Global New Deal

The last couple of years have seen the eurozone lurch from crisis to calamity. With Greece, Portugal and Ireland already driven to the brink of economic catastrophe, and the threat that a number of other EU countries are soon to follow, the consequences for the global economy are potentially dire.

In The Great Eurozone Disaster, Heikki Patomaki dissects the current crisis, revealing its origins lie in the instability that has driven the process of financialisation since the early 1970s. Furthermore, the public debt crises in the European deficit countries have been aggravated rather than alleviated by the responses of the Commission and leaders of the surplus countries, especially Germany.

Providing a captivating narrative about how Europe ended up in its present predicament, Patomaki presents a radical new vision for ‘global economic democracy’ as the only viable way out of the current crisis.