Bulletin n. 1-2/2014
November 2014
CONTENTS
  • Section A) The theory and practise of the federal states and multi-level systems of government
  • Section B) Global governance and international organizations
  • Section C) Regional integration processes
  • Section D) Federalism as a political idea
    • Lo Vuolo Rubén
    The Eurozone crisis in light of the Latin American experience
    in European Journal of Social Theory , Vol. 17, No. 3, August 2014 ,  2014 ,  359-374
    Abstract Many scholars have looked for similarities between the recent crisis in the Eurozone and the crises that have occurred in the past in developing countries and particularly in Latin America. Problems of balance of payments, public debt, overvaluation of the exchange rate and unregulated capital inflows are frequently mentioned to compare common features of different crisis events. Additionally, Continental European countries are following similar processes of welfare state retrenchment and labour market segmentation to Latin American cases in the past, but in different institutional contexts and with different levels of economic development. This article will discuss common features of past Latin American crises and the current crisis in the Eurozone in order to show how such a comparison could help to manage (and avoid) crises in an integrated financial world as well as to teach how a faulty institutional design can arise from a defective understanding of how financial capitalism works in a complex internationally integrated economic system.
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