The 2010 euro crisis stand-off between France and Germany: leadership styles and political culture
SourceInternational Economics and Economic Policy, 8, 1, (2011), pp. 7-14
Article / Letter to editor
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International Economics and Economic Policy
SubjectDistributional Conflicts in a Globalizing World: Consequences for State-Market-Civil Society Arrangements
In this paper, we argue that the severity of the 2010 euro crisis was caused by and reveals differences in leadership styles and political culture between European countries, especially between France and Germany. We trace these differences to differences in underlying values: culture. There is a historic pattern, visible especially during the European integration process. Cultural differences explain differences in attitude towards leadership and IMF involvement, lead to a stand-off and, thereby, dramatically increase the uncertainty about the commitment of the eurozone and the EU towards Greece.
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