The European crisis appears as the n-th “this time is different” episode of the financial liberalisation sequence cum fixed exchange rates, capital flows from the centre to the periphery, housing bubble, current account (CA) deficit and indebtedness, default. In the author’s view, although...

Research on the recent European financial crisis has prompted exploration of the harmonic and disharmonic views of international economic relations. The former, more liberal view is based on the Ricardian and Neoclassical trade theories. The latter is derived from pre-Smithian mercantilist...

Contributions to Brancaccio and Fontana (2011) look at a variety of aspects of the current crisis, some of them focusing on the contingent financial causes, others on the underlying contradictions of capitalist economies. In this context, less attention has been paid to the role of Europe and...