Crisis in the Eurozone: the illusion of development?

Post-Keynesians have delivered an important advance in providing explanations of the Eurozone Crisis, not the least in demonstrating how the formation of the European integration project lacked the means to manage effectively the macroeconomic imbalances between ‘core’ and ‘peripheral’ spaces across the region. In our recent article ‘EU aggregate demand as a way out of crisis?’, published in the Journal of Common Market Studies, Jamie Jordan, Adam David Morton and I provide a critical engagement with such descriptions. We argue that it is necessary to focus on the uneven and combined development of Europe’s ‘peripheral’ spaces and here in particular their integration into an expanded free trade regime since the 1980s in order to get a better understanding of the roots of the current crisis.

Photo by Chris Goldberg

Wellsprings of resistance – struggles over water in Europe

The question of who controls water and for what purpose makes water inherently political. Whether it’s water sources, water production such as desalination plants and waste treatment, or water services, private industry and financial markets are approaching water as the “it” commodity of the coming decade. Water grabbing is a form of accumulation by dispossession. Risk is shifted from private investors to the public whilst profits are siphoned off in the opposite direction. In this guest post, Madelaine Moore draws on her recent Rosa Luxemburg publication Wellsprings of Resistance.

What's wrong with post-Keynesian accounts of the Eurozone crisis?

Photo by UggBoy - Ugg Girl

There is general agreement that the Eurozone crisis has had a devastating impact on countries in Europe’s periphery, especially in the south. This is expressed in record levels of unemployment, social inequality and widespread social deprivation. However, there is little agreement amongst academic accounts on the causes of the crisis, nor on how this can be resolved. In this guest post, Jamie Jordan reports on the recently published article in the Journal of Common Market Studies, co-authored by him, Andreas Bieler and Adam David Morton. The article ‘EU aggregate demand as a way out of crisis?’ critically engages post-Keynesian accounts on both the economic causes of the crisis and the political possibilities for realising a European-wide recovery.

Resisting water privatisation in Greece and Portugal

In response to the Eurozone crisis, austerity and restructuring has been imposed on the European Union’s (EU) peripheral member states in order to receive financial bailout loans. And yet, workers have not simply accepted these restructuring pressures. They have organised and fought back against austerity and enforced privatisation. In the article ‘Commodification and “the commons”: The politics of privatising public water in Greece and Portugal during the Eurozone Crisis’, published in the European Journal of International Relations (EJIR) and freely available at Nottingham eprints, Jamie Jordan and I comparatively assess the struggles against enforced water privatisation in Greece and Portugal set against the background of the structuring conditions surrounding the Eurozone crisis.

The Class Sentiment of the Precariat: Reflections on social movements in Portugal 2011-2013.

In 2011, analysing new and ever more widely spread practices of informal work Guy Standing made his important intervention announcing the emergence of the precariat as a new class-in-the-making (see The Precariat – a new class agent for transformation?). In this guest post, Florian Butollo critically engages with Standing’s claim through an examination of social movements in Portugal between 2011 and 2013. He demonstrates that provided we have a broader and more political understanding of class, these movements can still be understood in class terms, providing us with a better way of thinking about the possibilities of collective resistance against exploitation.  

Portugal – When ‘good students’ turn sour

Portugal has been struggling with austerity, imposed by the Troika of EU Commission, European Central Bank and IMF. Higher Education (HE) has been badly affected similarly to the other areas of the Portuguese public sector. In this guest post, Mark Bergfeld reports from his experience in Lisbon last week of how students and members of staff mobilised against cuts in HE as part of the November 14 general strike. He concludes that while the current crisis is challenging, it nonetheless provides opportunities for students and members of staff to strengthen their joint resistance against austerity.