The original constitution of Economic and Monetary Union (EMU) rested on a neoliberal approach to interstate federalism à la Hayek. This approach appealed to political elites at the time of the Maastricht Treaty, promising to overcome the so-called ‘crisis of governability’ of the 1970s and...

Normative political theory is divided on whether questions of distributive justice properly extend beyond the state. From a functionalist perspective, however, justice reflects a balance of material forces, subject to the logics of ‘market' and ‘social' justice, or ‘capitalism' and...

Since the financial crisis there have been extraordinary efforts by the European Central Bank to protect the single currency, alongside pronouncements by European political elites that the Euro determines Europe’s fate and must be rescued at any cost. In its OMT reference, the German...