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The New Rome: The EU and the Pillage of the Indebted Countries

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  • Jan Kregel

Abstract

The European Union (EU) is a treaty-based organization that was set up after World War II as a means of putting an end to a favorite practice of the Europeans: sorting out their national differences by engaging in bloody warfare. The European experiment—the formation of a Common Market, which led eventually to economic and monetary union—has been linked to some remarkable outcomes: Europe has experienced its longest period of peace since the end of World War II, and war among European member-states now seems highly unlikely. Naturally, senior EU officials never miss an opportunity to remind the public of this achievement whenever the policies of the "new Rome" are questioned by a European citizenship fed up with authoritarian decision-making processes by the EU core, bank bailouts masquerading as national bailouts, austerity policies—and what amounts to the pillaging of the debtor countries by the center.

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Paper provided by Levy Economics Institute in its series Economics Policy Note Archive with number 13-05.

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Date of creation: May 2013
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Handle: RePEc:lev:levypn:13-05

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  1. Kevin H. O'Rourke & Jeffrey G. Williamson, 2001. "Globalization and History: The Evolution of a Nineteenth-Century Atlantic Economy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262650592, December.
  2. repec:eui:euibks:urn:hdl:1814/23335 is not listed on IDEAS
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