Andreas Bieler, Jamie Jordan and Adam David Morton, (2019), “The euro crisis showed the limits of using market integration and free trade as vehicles for development”, LSE EUROPP, 18 Φεβρουαρίου
The crisis that hit members of the Eurozone a decade ago has often been attributed to design flaws in Europe’s Economic and Monetary Union. Drawing on a new study, Andreas Bieler, Jamie Jordan and Adam David Morton argue that this focus neglects the deeper issues that lie at the heart of European economies. Rather than simply reflecting the flawed institutional setup of the EMU, the crisis emerged from the uneven and combined development that is a feature of how competitive markets function, illustrating the hollowness of the liberal promise of development as a result of market integration and free trade.
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