##plugins.themes.bootstrap3.article.main##

Cédric Durand

Abstract

Never before has Europe been so present in public debate. From 2009 onwards, not a month has gone by without new twists in the melodramatic rifts and reconciliations between EU governments and institutions. As the region dips further into recession and social desperation, the showdown between supporters and opponents of austerity renders the macro-economic dispute the central issue, leaving the future of Europe and its people woefully unclear. But exactly what is ‘Europe’? The concept is difficult to grasp, as ‘Europe’ is both multifaceted and unstable. In a bid to break open the ‘black box’ this article proposes to set aside the events to focus on the crisis behind the events. To engage in such a discussion, one must decipher the deceptively simple question of what Europe is. Which are the forces and the principles, from post-war to the euro crisis, which animate this politico-institutional process?

##plugins.themes.bootstrap3.article.details##

Keywords

European integrtion, supra-national institutional transformation, state, ortholiberalism, neoliberalism, internationalisation of capital, financial capitalism, austerity measures, class struggle

References
Aglietta, M. (2012) Zone Euro: Eclatement ou Fédération [EuroZone: Break Up or Federation]. Paris: Michalon.

Anderson, P. (2011) Le Nouveau Vieux Monde. Sur le Destin d’un Auxiliaire de l’ordre Américain [The New Old World. The Fate of an Auxiliary of the American Order]. Marseille: Agone Publisher.

Andrews, D.M. (ed.) (2006) International Monetary Power. Ithaca, NY: Cornell University Press.

Audier, S. (2012) Néolibéralism(s). Une Archéologie Intellectuelle [Neoliberalism(s). Intellectual Archaeology]. Paris: Grasset.

Auvray, T. and Granier, C. (2009) ‘La Crise Financière en Europe: Vers une Convergence des Modèles de Détention Actionnariale? [The Financial Crisis in Europe: Towards a Convergence of Activist Shareholder Models]’, in Dupuy, C. and Lavigne, S. (eds), Les Géographies de la Finance Mondialisée, La Documentation Française, Paris, pp. 79–95.

Berger, K. (2012) ‘Il Faut Voter le Traité Budgétaire Européen’ [It is Necessary to Vote on EU Fiscal Treaty], Le Monde, 20 Septembre 2012.

Bohle, D. (2006) ‘Neoliberal Hegemony, Transnational Capital and the Terms of the EU’s Eastward Expansion’, Capital and Class, Vol. 30, No. 1, pp. 57–86.

Bohle, D. and Greskovits, B. (2007) ‘Neoliberalism, Embedded Neoliberalism and Neocorporatism: Towards Transnational Capitalism in Central-Eastern Europe’, West European Politics, Vol. 30, No. 3, pp. 443–466.

Bonefeld, W. (2002) ‘European Integration: The Market, the Political and Class’, Capital & Class, Vol. 26, No. 77, p. 125.

Boyer, R. (2012) ‘Overcoming the Institutional Mismatch of the Eurozone’, Seminar Classes of CEPNAMPK, 16 November 2012, pp. 25–27. Available at: [http://www.univ-paris13.fr/cepn/IMG/pdf/texte_cepn_ampk _301112.pdf], accessed on 29 March 2014.

Carchedi, G. (2001) For Another Europe. A Class Analysis of European Integration. London/New York: Verso.
Chagny, O., Husson, M. and Lerais, F. (2012) ‘Les Salaires aux Racines de la Crise de la Zone Euro?’ [Wages are the Roots of the Crisis in the Euro Zone], La Revue de l’IRES, Vol. 73, pp. 69–98.

Chesnais, F. (ed.) (2004) La Finance Mondialisée. Racines Sociales et Politiques, Configuration, Conséquences [Globalised Finance, Social and Political Roots, Configuration, Consequences]. Paris: La Découverte.

Chesnais, F. (2011) Les Dettes Illégitimes: Quand les Banques Font Main Basse sur les Politiques Publiques [Illegitimate Debts: When Banks are Hands on Public Policy]. Paris: Liber.

Chinn, M. and Frankel, J. (2005) ‘Will the Euro Eventually Surpass the Dollar as Leading International Reserve Currency?’, NBER Working Paper No. 11510, August 2005. Available at: [http://www.nber.org/ papers/w11510], accessed on 29 March 2014.

Cohen, A. (2007) ‘Le “père” de l’Europe’ [The ‘Father’ of Europe], Actes de la Recherche en Sciences Sociales, Vol. 166–167, No. 1, pp. 14–29.

Constantin, C. (2011) ‘“Great friends”: Creating Legacies, Networks and Policies that Perpetuate the Memory of the Father of Europe’, International Politics, Vol. 48, No. 1, pp. 112–128.

Coriat, B. (2008) ‘L’Installation de la Finance en France’ [Installation of Finance in France], Revue de la Régulation, No. 3/4 (Autumn). Available at: [http://regulation. revues.org/6743], accessed on 29 March 2.

Dardot, P. and Laval, C. (2009) La Nouvelle Raison du Monde [Because of the New World]. Paris: La Découverte.

Defraigne, J-C. (2004) De l’Intégration Nationale à l’Intégration Continentale. Analyse de la Dynamique Supranationale d’Intégration Européenne des Origines à Nos Jours [From National to Continental Integration: An Analysis of the Dynamics of Supranational European Integration from its Origins to Today]. Paris: L’Harmattan, pp. 147–166.

De Grauwe, P. (2006) ‘What Have we Learnt about Monetary Integration since the Maastricht Treaty?’, Journal of Common Market Studies, Vol. 44, No. 4 (November), pp. 711–730.

Denord, F. and Schwartz, A. (2010) ‘L’économie (très) Politique du Traité deRome’ [The Economy (very) Policy of the Treaty of Rome], Politix, No. 89, pp. 35–56.

Dietsch, M., Mathieu, E. and Chopra, M. (2003) ‘Mondialisation et Recomposition du Capital des Entreprises Européennes’ [Globalisation and Capital Re-structuring of European Companies], General Planning Commission, Paris, December 2003. Available at: [http://www.ladocumentation
francaise.fr/docfra/rapport_telechargement/var/storage/rapports-publics/044000028/0000.pdf], accessed on 29 March 2014.

Duwicquet, V., Mazier, J. and Saadaoui, J. (2013) ‘Désajustements de Change, Fédéralisme Budgétaire Etredistribution: Comment s’ajuster en Union Monétaire’ [Misalignment of Exchange, Fiscal Federalism and Re-distribution: How to adjust Monetary Union], Revue de l’OFCE, Vol. 127, pp. 57–96.

European Central Bank (ECB) (2012) The International Role of the Euro (July 2012). Available at: [http://www.ecb.int/pub/pdf/other/euro-international-role201207 en.pdf], accessed on 29 March 2014.

European Union Internet Site. Available at: [http://europa.eu/about-eu/eu-history/founding-fathers/index_fr.htm], accessed on 29 March 2014.

Eurostat (2008) ‘European Union Foreign Direct Investment Yearbook’. Available at: [http://epp.eurostat.ec.europa.eu/cache/ITY_OFFPUB/KS-BK-08-001/EN/KS-BK-08-001-EN.PDF], accessed on 29 March 2014.

Foucault, M. (2004) Naissance de la Biopolitique [Birth of Biopolitics]. Paris: Gallimard-Seuil.

Frankel, J.A. and Rose, A.K. (1996) ‘The Endogeneity of the Optimum Currency Area Criteria’, NBER Working Paper, No. 5700, Issued in August 1996. Available at: [http://www.nber.org/ papers/w5700], accessed on 29 March 2014.

Georgiou, C. (2010) ‘The Euro Crisis and the Future of European Integration’, International Socialism (14 October 2010). Available at: [http://www.isj.org.uk/?id=682], accessed on 29 March 2014.

Hayek, F. (1939) ‘The Economic Conditions of Interstate Federalism’, reprinted (1948) in Individualism and Economic Order. Chicago: University of Chicago Press.

Hoffman, P. (1949) ‘Discours de Paul Hoffmann lors de la 75e réunion du Conseil de l’OECE’ [Paul Hoffman speech at the 75th Meeting of the Council of OEEC] (31 October 1949), Centre Virtuel de la Connaissance sur l’Europe: Available at: [http://www.cvce.eu/viewer/-/content/840d9b55-4d17-4c33-8b09-7ea547b85b40/fr], accessed on 29 March 2014.

Jones, E. (2002) The Politics of Economic and Monetary Union. Boulder: Rowman and Little.

Lantenois, C. (2011) ‘La Dissolution du Coeur de la Deutschland AG’ [Dissolution of the Heart of the Deutschland AG], Revue d’Économie Financière, No. 104, pp. 91–106.

Lantenois, C. and Coriat, B. (2011) ‘Investisseurs Institutionnels Non-résidents, Corporate Governance et Stratégies d’Entreprise’ [Non-Resident Institutional Investors, Corporate Governance and Business Strategies], Revue d’Ééconomie Industrielle, [online] No. 134, Doc. 3 / 2nd trimester, pp. 51–84. Available at: [http://rei. revues.org/4994], accessed on 29 March 2014.

Lapavitsas, C. (2012) Crisis in the Eurozone. London: Verso.

Lapavitsas, C. (2013) Research on Money and Finance. Available at: [http://www.researchonmoneyandfinance.org/], accessed on 29 March 2014.

Lapavitsas, C. (2013) ‘The Eurozone Crisis through the Prism of World Money’, in Wolfson, M. and Epstein, G.A. (eds), The Handbook of the Political Economy of Financial Crises. USA: Oxford University Press, pp. 378–394.

Lenin (2002) ‘Du mot d’ordre des États-Unis d’Europe’ [The Slogan of the United States of Europe], Social-Démocrate, No. 44 (23 August 1915). Works–XXI (August 1914–December 1915) No. 73. Available at: [http://www.marxists.org/francais/lenin/works/1915/08/vil191 50823.htm], accessed on 29 March 2014.

MacDougall, D. (1977) MacDougall Report, Report of the Study Group on the Role of Public Finance in European Integration, Vol. I. Brussels: European Commission. Available at: [http://ec.europa.eu/economy_finance/emu_history/documentation/chapter8/19770401en73macdougallrepvol1.pdf], accessed on 29 March 2014.

Mahnkopf, B. (2012) ‘The Euro Crisis: German Politics of Blame and Austerity – A Neoliberal Nightmare’, International Critical Thought, Vol. 2, No. 4, pp. 472–485.

Mandel, E. (1967) ‘International Capitalism and ‘Supra-Nationality’, Socialist Register, Vol. 4, p. 31. Available at: [https://jps.library.utoronto.ca/index.php/srv/article/download/5368/2268], accessed on 29 March 2014.

Marx, K. (2009) Le Capital, Vol. I. Paris: Quadridge/Press Universities of France (PUF), pp. 160–164.

McNamara, K. (2008) ‘A Rivalry in the Making? The Euro and International Monetary Power’, Review of International Political Economy, Vol. 15, No. 3, pp. 439–459.

Morin, F. and Rigamonti, É. (2002/5) ‘Évolution et Structure de l’Actionnariat en France’ [Evolution and Structure of Ownership in France], Revue Française de Gestion, No. 141, pp. 155–181.

Müller, J-W. (2012) ‘Beyond Militant Democracy’, New Left Review, Vol. 73 (January/February). Available at: [http://newleftreview.org/II/73/jan-werner-muller-beyond-militant-democracy], accessed on 29 March 2014.

Panitch, L. and Gindins, S. (2012) The Making of Global Capitalism. London/New York: Verso.

Nölke, A. and Vliegenthart, A. (2009) ‘Enlarging the Varieties of Capitalism: The Emergence of Dependent Market Economies in East Central Europe’, World Politics, Vol. 61, No. 04 (October), p. 670.

Parsons, C. (2006) A Certain Idea of Europe. Ithaca, New York: Cornell University Press.

Poulantzas, N. (1973) ‘L’internationalisation des rapports capitalistes et l’État-Nation’ [Internationalisation of Capitalist Relations and the Nation-State], Les Temps Modernes, No. 319 (February).

Ramaux, C. (2012) L’État Social. Pour Sortir du Chaos Néolibéral [The Social State. Out of Neoliberal Chaos]. Paris: Mille et une nuits.

Ryner, M. (2012) ‘Financial Crisis, Orthodoxy and the Production of Knowledge about the EU’, Millenium, Vol. 40, No. 3, pp. 651–653.

Sapir, J. (2012) ‘Pour l’Euro, l’Heure du Bilan a Sonné. Quinze Leçons et Six Conclusions’ [For the Euro, the Time of Reckoning has Come. Fifteen Lessons and Six Conclusions], 18 June 2012. Available at: [http://halshs.archives-ouvertes.fr/FMSH-WP/halshs-00710375], accessed on 29 March 2014.

Sapir, J. (2012) ‘Mythes et Préjugés Entourant la Création et l’Existence de la Monnaie Unique’ [Myths and Misconceptions Surrounding the Creation and Existence of the Single Currency], Centre d’études des modes d’industrialisation (CEMI), EHESS, 14 September 2012. Available at: [http://f.hypotheses.org/
wp-content/blogs.dir/981/files/2012/09/Mythes-Euro.pdf], accessed on 29 March 2014.

Serfati, C. (2012) ‘L’Impérialisme et la Place de l’UE dans le Dispositif Économique et Géopolitique Mondial’ [Imperialism and the Role of the EU in the Global Geopolitical and Economic System], symposiumPenser l’Émancipation [Thinking Emancipation], 27 October 2012 at UNIL, Lausanne. Available at: [http://www.youtube.com/watch?v=7LE7_EngVEw], accessed on 29 March 2014.

Stockhammer, E. (2007) ‘Some Stylized Facts on the Finance-Dominated Accumulation Regime’, Political Economy Research Institute Working Papers, wp142, University of Massachusetts at Amherst. Available at: [http://www.peri.umass.edu/fileadmin/pdf/working_papers/working_papers_101-150/
WP142.pdf], accessed on 29 March 2014.

Théry, F. (1998) ‘Construire l’Europe dans les Années Vingt. L’action de l’Union Paneuropéenne sur la Scène Franco-allemande, 1924–1932’ [Building Europe in the Twenties. The Action of Pan-European Union on the Franco-German Scene, 1924–1932], EURYOPA, Etudes [Studies] 7, Institut européen de l’université de Genève. Available at: [www.unige.ch/ieug/publications/euryopa/thery.pdf], accessed on 20 March 2014.

Traverso, E. (2007) A Feu et à Sang. De la Guerre Civile Européenne 1914–1945 [A Fire and Blood European Civil War 1914–1945]. Paris: Stock.

United Nations Conference on Trade and Development (UNCTAD), FDI Statistics (2012). Available at: [http://unctadstat.unctad.org/ReportFolders/reportFolders.aspx?sRF_ActivePath=P,5,27&sRF_Expanded=,P,5,27], accessed on 29 March 2014.

Van der Pijl, K., Holman, O. and Raviv, O. (2011) ‘The Resurgence of German Capital in Europe: EU Integration and the Restructuring of Atlantic Networks of Interlocking Directorates after 1991’, Review of International Political Economy, Vol. 18, No. 3, pp. 384–408.

Vermeiren, M. (2012) ‘Monetary Power and the EMU: Macroeconomic Adjustment and Autonomy in the Eurozone’, Review of International Studies, Vol. 39, No. 3 (November), pp. 1–33.

Media Sources

Delors Report (17 April 1989) Report on Economic and Monetary Union in the European Community. Available on-line in the Archive of European Integration (AEI), University of Pittsburgh at: [http://aei.pitt.edu/1007/1/monetary_delors.pdf], accessed on 29 March 2014.

Draghi, Mario, ECB President (15 December 2011) ‘The Euro, Monetary Policy and the Design of a Fiscal Compact’, Ludwig Erhard Lecture, Berlin. Available at: [http://www.ecb.int/press/key/date/2011/html/sp111215.en.html], accessed on 29 March 2014.

France, Pierre Mendès (January 1957) Speech on the risks of the common market at the National Assembly, Paris. Centre Virtuel de la Connaissance sur l’Europe, Available at: [http://www.cvce.eu/obj/discours_de_pierre_mendes_france_sur_les_risques_du_marche_commun_paris_18_janvier_195
7-fr-c81bfdc2-20a9-4eaa-82ec-c2117fa1f3c2.html], accessed on 29 March 2014.

Mitterrand, François (19 February 1983) Speech in Jacques Attali (1993), Verbatim, Vol. 1, Paris: Fayard.

Stockhammer, E. and Sotiropoulos, D. (2012) ‘The Costs of Rebalancing the Euro Area’, Post Keynesian Economics Study Group (PKSG) working paper, PKWP1206. Available at: [http://www.postkeynesian.net/downloads/wpaper/PKWP1206.pdf], accessed on 29 March 2014.
Section
Articles