The Political Economy of the Euro Crisis

In this course we will undertake an in-depth analysis of the current Euro crisis, a complex process that began as a purely economic crisis and turned into a political crisis that is reshaping the “balance of power” within the European Union. After a short introduction to the European monetary system, we will address the main reasons behind the current Euro crisis, paying particular attention to the issue of sovereign debt as a major economic and political problem in Southern Europe. We will then examine the German austerity approach to the crisis and Germany’s attempts to impose policies on the so-called “non-virtuous” Mediterranean nations in this time of crisis. (International Relations and Foreign Policy)/