IDEAS home Printed from https://ideas.repec.org/p/rmf/dpaper/34.html
   My bibliography  Save this paper

European periphery crises, international financial markets, and democracy: moving towards a globalized neofeudalism?

Author

Listed:
  • Jorge Garcia-Arias
  • Eduardo Fernandez-Huerga
  • Ana Salvador

Abstract

This paper analyzes the origin and causes of the recent economic and financial crises, mainly for the countries located in the periphery of the European Union (EU), as well as their evolution and transformation into social, political, and institutional crises. After explaining the differential impact of the crises on EU member economies and critically analysing the unsuccessful orthodox neoclassical policies implemented by governments and international institutions to try to manage and resolve them, we propose some alternative economic policy measures for the EU. Furthermore, we analyze how the economic policies developed thus far not only are unable to resolve the current crisis pattern but also actually entail a risk to the present democratic models by transferring the legitimate control over governments from citizens and democratic parliaments to unelected, non-representative international financial markets.

Suggested Citation

  • Jorge Garcia-Arias & Eduardo Fernandez-Huerga & Ana Salvador, "undated". "European periphery crises, international financial markets, and democracy: moving towards a globalized neofeudalism?," Discussion Papers 34, Research on Money and Finance.
  • Handle: RePEc:rmf:dpaper:34
    as

    Download full text from publisher

    File URL: http://researchonmoneyandfinance.org/media/papers/RMF-34-Garcia-Arias-Fernandez-Huerga-Salvador.pdf
    Download Restriction: no

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rmf:dpaper:34. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (). General contact details of provider: http://www.researchonmoneyandfinance.org/ .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.