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Synopsis

The last couple of years have seen the eurozone lurch from crisis to calamity. With Greece, Portugal and Ireland driven to the brink of economic catastrophe, and the threat that other EU countries are soon to follow, the consequences for the global economy are potentially dire. In The Great Eurozone Disaster, Heikki Patomäki dissects the current crisis, revealing that its origins lie in the instability that has driven the process of financialization since the early 1970s. Furthermore, the public debt crises in the European deficit countries have been aggravated rather than alleviated by the responses of the Commission and leaders of the surplus countries, especially Germany. Providing a captivating narrative about how Europe ended up in its present predicament, Patomäki offers a radical new vision for democratic global Keynesianism as the most viable way out of the current crisis.

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