The Europeans have engaged in a protracted and often highly uncivilized blame game as the euro crisis moves from one phase to the next. This book examines the interaction between national and systemic failure, with Greece as a test case. It is lucid, well documented and cogently argued. And it pulls no punches.
Professor Loukas Tsoukalis, University of Athens
Those who have been puzzled by the unravelling of the political contract that underlay European economic and monetary union will find much of value in this study. Examining the strength of weak institutions, Eleni Panagiotarea shows, through meticulous analysis of the evidence and the use of interviews, how the political commitments involved in the design of monetary union could not be sustained.
Professor Albert Weale, FBA School of Public Policy, University College London
An informed and balanced account of how Greece and the euro-zone got into this mess. It introduces the reader to the complexities of reforming Greece and to the shallowness of the Ordo-liberal design for the euro.
Professor Kevin Featherstone, Eleftherios Venizelos Chair in Contemporary Greek Studies European Institute, London School of Economics