The Debt Crisis and European Democratic Legitimacy [Hardcover]

Huw Macartney examines the conflicting movements gripping Europe. He explains why 'more Europe and less democracy' seems to be the order of the day. He argues that state managers responses reflect a long-term disquiet about the economic consequences of democracy. Through a critical engagement with ordo-liberal and neo-liberal intellectual traditions, Macartney explains why participation and consent have given way to coercion and depoliticisation. Financial speculation and growing social unrest have thus fuelled attempts to further mystify the political character of economic policymaking. This comes at precisely the time when the everyday life of European citizens is most affected by the decisions of political classes at the heart of Europe. There are strong reasons to believe though that the kind of violent outbreaks in Greece and elsewhere point to the limitations of this authoritarian, undemocratic governing strategy. The end-result could prove devastating for Europe.Introduction 1. The Free Market and Democracy 2. From Restructuring to Debt Crisis 3. From Debt to Depoliticisation 4. From Depoliticisation to Resistance Conclusion

For a masterful, critical account of the crises of debt and democracy in Europe, there is nothing better than this book. It argues that the Eurozone debt crisis is not just economic but also political - and that EU leaders' proposed solutions cannot solve the problems in ways that will remedy the democratic deficit. This is a must-read for those looking for a readable account of how the economic crisis came about, how it interrelates with the political crisis, and why they are so dangerous. - Vivien Schmidt, University of Boston, USA

Europe is facing a crisis of debt and competitiveness. But it is also facing a crisis of democracy and legitimacy. As Huw Macartney shows in this powerful new analysis the two crises are intertwined but also pull in different directions, subjecting the project of ever closer unionlã.