‘As I Drifted on a River I Could Not Control’: The Unintended Ordoliberal Consequences of the Eurozone Crisis

@article{Nedergaard2015AsID,
  title={‘As I Drifted on a River I Could Not Control’: The Unintended Ordoliberal Consequences of the Eurozone Crisis},
  author={Peter Nedergaard and Holly Snaith},
  journal={ERN: Other European Economics: Political Economy \& Public Economics (Topic)},
  year={2015}
}
  • P. Nedergaard, Holly Snaith
  • Published 1 September 2015
  • Political Science
  • ERN: Other European Economics: Political Economy & Public Economics (Topic)
Germany has a long history of institutionalized ordoliberalism. While these ideas may be implemented almost unreflexively within Germany, its status of ‘reluctant hegemon’ within the European Union has led to purposive uploading of many of these ideas to other Member States. In this article, we first define what these ordoliberal actions consist of, before tracing their evolution within Germany and the EU. Our intention is to detail how acting within ordoliberal tenets has led to some rather… 
The euro crisis, euro reform, and the problem of hegemony
The article applies the contested concept of hegemony to the euro and the eurozone crisis of 2009–12 to critically scrutinise the parameters and limits of the euro reform process. Conceptualising the
Germany, the Eurozone crisis and the Covid-19 pandemic: Failing forward or moving on?
  • S. Bulmer
  • Economics
    Comparative European Politics
  • 2022
This article explores continuity and change in Germany’s policy towards economic and monetary integration, comparing its approach to the Eurozone crisis with its response to the economic challenges
Has Germany Fallen Out of Love with Europe
This chapter argues that, contrary to expectations raised by the ‘normalisation’ debate, the crisis in Germany reflects both its post-war European identity and the incorporation of ordoliberal values
A Banking Union of Ideas? The Impact of Ordoliberalism and the Vicious Circle on the EU Banking Union
The establishment of the EU banking union reveals two major shortcomings of liberal intergovernmentalism. First, it fails to explain the preference formation of the most important actor – the German
‘Ordo’ versus ‘Ordnung’: Catholic or Lutheran roots of German ordoliberal economic theory?
Ordoliberalism is a German tradition of economic and political theory whose influence on the post-2008 European landscape has been substantial. Ordoliberalism professes a strong state to safeguarding
The Political Economy of the European Union: An Exploration of EU Institutions and Governance from the Perspective of Polycentrism
The analytical framework of polycentrism—extensively developed by Elinor and Vincent Ostrom—is one of the most prominent theoretical approaches in political economy. According to this theory, social
The Economic Order of Post-Brexit Europe and the Role of Germany: An Ordoliberal Perspective
This paper analyses the scenarios of the EU’s post-Brexit economic order and the role of Germany in shaping it from an ordoliberal perspective. The analysis shows that the ordoliberal view would
‘There's a Brand New Talk, But it's Not Very Clear’: Can the Contemporary EU Really Be Characterized as Ordoliberal?
Ordoliberalism has undergone a dramatic resurgence as a characterization of the contemporary EU and its economic dimensions. Commentators have pointed to the ‘ordoliberalization’ of EU economic
Borders and the EU legitimacy problem: the 2015–16 European Refugee Crisis
ABSTRACT The porous external border around the Schengen member states of the European Union (EU) became a colossal political problem in 2015 and 2016 as the migrant and Refugee Crisis unfolded. In
Powerful rules governing the euro: the perverse logic of German ideas
ABSTRACT Ideas are at their most powerful as an explanatory variable when they lead agents to go against any broadly reasonable interpretation of their material self-interests. They become even more
...
1
2
3
4
5
...

References

SHOWING 1-10 OF 56 REFERENCES
Germany as the EU's reluctant hegemon? Of economic strength and political constraints
This article explores the growing perception, prompted by the eurozone crisis, of Germany as a hegemonic power in the European Union. The article explores the realignments in the power balance within
(049) THE LONG SHADOW OF ORDOLIBERALISM: GERMANY’S APPROACH TO THE EURO CRISIS
At the end of January, European leaders agreed the wording of the new treaty aimed primarily at tightening fiscal policy in the euro area that was agreed in principle by 26 EU heads of government at
Ordoliberal Lessons for Economic Stability: Different Kinds of Regulation, Not More Regulation
Since the Global Financial Crisis of 2008 the term “ordoliberalism” has experienced a marked revival. This discussion tends to focus on the need for more state intervention. Yet this misrepresents
EMU as Europeanization: Convergence, Diversity and Contingency
This article examines the effects of Economic and Monetary Union (EMU) as a case study of Europeanization of EU Member States. Emphasis is placed on what these effects are, how they take place, and
The Politics of the Eurozone Crisis: Two Puzzles behind the German Consensus
Summary: This article follows conventions and defines ordoliberalism as a body of economic thought that stresses an institutionally defined economic “order” that establishes and regulates markets.
At the Crossroads: The Euro and Its Central Bank Guardian (and Savior?)
This paper investigates the role of the European Central Bank (ECB) in the (mal-) functioning of Europe's Economic and Monetary Union (EMU), focusing on the German intellectual and historical
Reflections on Werner Bonefeld's ‘Freedom and the Strong State: On German Ordoliberalism' and the Continuing Importance of the Ideas of Ordoliberalism to Understand Germany's (Contested) Role in Resolving the Eurozone Crisis
A historian and a political scientist take issue with Bonefeld's interpretation of ordoliberalism from the viewpoint of our historical knowledge of the Freiburg School. Our major disagreement is with
The French Fifth Republic at Fifty: Beyond Stereotypes
France the Unexceptional A.Appleton PART I: DECISION-MAKING INSTITUTIONS Studying the Presidency under the Fifth Republic: Past Approaches and Future Perspectives R.Elgie Governments under the Fifth
Constitutionalizing the Economy: German Neo-Liberalism, Competition Law and the 'New' Europe
Despite its enormous importance in the evolution of competition law in Europe, ordoliberal thought — and German neo-liberal thought generally — has received little attention in the English-speaking
Freedom and the Strong State: On German Ordoliberalism
Ordoliberalism is the theory behind the German social market economy. Its theoretical stance developed in the context of the economic crisis and political turmoil of the Weimar Republic in the late
...
1
2
3
4
5
...