Markets and peoples

New Left Review

Volumn , Issue 73, 2012, Pages 63-71

  Streeck, Wolfgang ^a  

^a NONE

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EID: 84858199189     PISSN: 00286060     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Review

References (4)

1. Streeck, 'The Crises of Democratic Capitalism', nlr 71, Sept-Oct 2011.
2. The present text was written as an epilogue to the German translation of that essay; lightly updated, it is published by kind permission of Lettre Internationale. See 'Völker und Märkte: Demokratischer Kapitalismus und Europäische Integration. Ein Epilog', li, Winter 2011
3. See ig Metall, 10 Gründe für den Euro und die Währungsunion (10 Reasons for the Euro and the Currency Union), August 19, 2011. 'The German economy lives like no other national economy from exports. Our customers abroad account for millions of jobs in Germany. The most important buyers of German products are the Europeans. . the joint currency has enormously contributed to the competitiveness of German products. If the debtor countries are thrown out of the common currency, they will devalue their currencies to increase their competitiveness. The remaining Euro, which will be the currency only of the economically strongest European Union countries, will then come under massive pressure to revalue. A return to the deutschemark would mean a revaluation of no less than 40%. . eurobonds, rescue funds and other support for the deficit countries should be tied to conditions aimed at reducing debt. . debts and surpluses of individual countries should be monitored by a European Currency Fund. Excessive debts or surpluses should result in proceedings for the correction of imbalances.'
4. Emile Durkheim, The Division of Labour in Society [1893], Houndmills 1984, p. 322.