Read e-book online The Greek Crisis and European Modernity PDF

By Anna Triandafyllidou, Hara Kouki, R. Gropas

This assortment explores the present fiscal and political trouble in Greece and extra broadly in Europe. Greece is used to demonstrate and exemplify the contradictions of the dominant paradigm of ecu modernity, the ruptures which are inherent to it, and the choice modernity discourses that enhance inside Europe. by means of significantly reviewing the 'alternative' route to modernization that Greece has taken, the authors query even if the present Greek monetary and political-moral concern is the ensuing failure of this 'alternative' or 'deviant' modernization version or if it is the results of a much broader predicament within the dominant eu financial and political modernity paradigm.

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Extra info for The Greek Crisis and European Modernity

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It also marks a big failure for economic science and its prophets. The efficient market hypothesis, resting on the behaviour of rational actors armed with perfect information, which had provided the intellectual basis for financial deregulation in the West, was shown to bear little resemblance to real life financial markets in which greed and moral hazard met in an explosive mix, with the old herd instinct being added for extra effect. One may, indeed, wonder what kind of world the authors of Loukas Tsoukalis 31 those theories inhabit, although some have been rewarded with Nobel prizes.

The notion of periphery is indeed core to the very definition of European identity, and it is particularly relevant for any understanding of the process of Europeanization and resistance to it. European identity has been defined through the model proposed by the EU during the more recent decades. In some cases it is seen as inherent to and an integral part of national identity; in other cases, it constitutes a challenge or even a threat to the nation. In the geographic periphery of 18 Introduction: Is Greece a Modern European Country?

Yet, all those unthinkables have clearly not been enough, or so it has been judged by the financial markets. And the crisis goes on, with continuous ups and downs. 3 Different narratives of a complex truth One of the few good things about the crisis is that it has generated a lively public debate about ways and means of dealing with it at the European level. It has not been a mere juxtaposition of national debates going on almost independently of each other and limited to a small number of cognoscenti, which is the usual pattern with respect to EUrelated issues.

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