European and Latin American Experiences
New Directions in Post-Keynesian Economics series
Edited by Noemi Levy and Etelberto Ortiz
Chapter 1: A structural and monetary perspective of the euro crisis
In the chapter, ‘A structural and monetary perspective of the euro crisis,’ the authors argue that the European crisis cannot be treated as a typical breakdown resulting from balance of payments problems and cumulative price differentials, and nor does it reflect neo-mercantilist strategies. From the authors’ perspective, the European crisis should be discussed in light of the structural problems with the productive sector, considering the structural changes generated by the eurozone, which altered the ways of mobilizing capital and promoted accumulation.