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


  • Jan Kregel


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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  • Jan Kregel, 2013. "The New Rome: The EU and the Pillage of the Indebted Countries," Economics Policy Note Archive 13-05, Levy Economics Institute.
  • Handle: RePEc:lev:levypn:13-05

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    1. repec:eui:euibks:urn:hdl:1814/23335 is not listed on IDEAS
    2. 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, January.
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