Bulletin n. 1/2012
June 2012
CONTENTS
  • Section A) The theory and practise of the federal states and multi-level systems of government
  • Section B) Global governance and international organizations
  • Section C) Regional integration processes
  • Section D) Federalism as a political idea
    • Bill Lucarelli
    German neomercantilism and the European sovereign debt crisis
    in Journal of Post Keynesian Economics , volume 34 n.2 ,  2012 ,  205-224
    The causes of the recent sovereign debt crisis within the eurozone are examined from the perspective of the peculiar institutional framework inherited from the Maastricht Treaty of 1992. The article argues that German neomercantilism is at the very core of Europe's descent into a seemingly irreversible phase of stagnation. In the absence of fiscal federalism, the sovereign debt crisis will only worsen, pushing the eurozone into a possible phase of debt-deflation.
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