The Deepening Crisis: Governance Challenges after Neoliberalism (Possible Futures) by Craig Calhoun & Georgi Derluguian

Author:Craig Calhoun & Georgi Derluguian
Language: eng
Format: mobi, epub
Publisher: NYU Press
Published: 2011-05-01T04:00:00+00:00

The French government claimed that the package was a great step forward for its objective of creating an economic government for the EU. Interestingly, the English text spoke of economic “governance” rather than government. The differences on what the package means are more than semantic. It faces a challenge in German courts on the grounds that it violates German commitment to price stability, as well as EU law with respect to not bailing out member states that face a sovereign debt problem. Slovakia has resisted providing its share of the fund (€800 million). Moreover, although the dimensions of the package are impressive, some observers feel that it would not be enough if a large economy such as Spain or Italy ran into the same problems as Greece.

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