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The Political Economy of the Crisis:The End of an Era?

Tsoukalis, Loukas, (2012), ‘The Political Economy of the Crisis:The End of an Era?’, Dahrendord Symposia Series Working Paper 2012-04.

Τhe crisis we are going through will shape Europe and European integration for years to come; it also risks leading Europe down the road to disintegration. The crisis of the euro is part and parcel of a much broader crisis that has resulted from the bursting of the biggest bubble in the Western financial system for several decades. Greece served as a catalyst for the transformation of a financial crisis that had already hit the real economy into a sovereign debt crisis in Europe.