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Germany and the European and Global Crises

  • Sergio Cesaratto

    ()

  • Antonella Stirati

    ()

Moving from the current global and European imbalances and crises, and from the consideration of the German reaction to them, the paper explores the political economy origins of the conservative German policy stance. It emerges that an export-oriented economy was a deliberate decision of the German elite after WW II and that the external constraint may be regarded as appropriately designed for internal discipline and efficiency (and vice-versa) in a self-reinforcing process. The conclusions illustrate some possible future scenarios for Europe.

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Paper provided by Department of Economics, University of Siena in its series Department of Economics University of Siena with number 607.

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Date of creation: Jan 2011
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Handle: RePEc:usi:wpaper:607
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