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Money makes the world go round – On European financial power relations and the reemergence of Neorealism's explanatory power in analyzing the management of the European debt crisis

Hemmerath, Fabian LU (2015) SIMV07 20151
Department of Political Science
Master of Science in Global Studies
Graduate School
Abstract
This thesis provides an analysis of the Eurozone‟s crisis management during the European debt crisis from a Neorealist perspective. It assesses the explanatory power of Neorealism for the counter-measures taken in response to the European debt crisis. The main argument is that in times of crisis, the member states of the European Union may fall back to Neorealist behavior, despite any integrating efforts made under non-crisis conditions. The thesis combines quantitative and qualitative analysis with the quantitative part descriptively assessing the financial power relations within the Eurozone and the qualitative part providing evidence for a crisis management congruent with Neorealist predictions. It is shown that the two financially most... (More)
This thesis provides an analysis of the Eurozone‟s crisis management during the European debt crisis from a Neorealist perspective. It assesses the explanatory power of Neorealism for the counter-measures taken in response to the European debt crisis. The main argument is that in times of crisis, the member states of the European Union may fall back to Neorealist behavior, despite any integrating efforts made under non-crisis conditions. The thesis combines quantitative and qualitative analysis with the quantitative part descriptively assessing the financial power relations within the Eurozone and the qualitative part providing evidence for a crisis management congruent with Neorealist predictions. It is shown that the two financially most powerful states during the European debt crisis, Germany and France, decisively shaped the implementation of the EFSF, the ESM, and the European Fiscal Compact. Furthermore, evidence is given that those three counter-measures were implemented outside of the European Union legal framework and designed after intergovernmental premises. The thesis thus concludes that the three most important counter-measures to the European debt crisis can be explained and analyzed through the theory of Neorealism. (Less)
Popular Abstract
This thesis provides an analysis of the Eurozone‟s crisis management during the European debt crisis from a Neorealist perspective. It assesses the explanatory power of Neorealism for the counter-measures taken in response to the European debt crisis. The main argument is that in times of crisis, the member states of the European Union may fall back to Neorealist behavior, despite any integrating efforts made under non-crisis conditions. The thesis combines quantitative and qualitative analysis with the quantitative part descriptively assessing the financial power relations within the Eurozone and the qualitative part providing evidence for a crisis management congruent with Neorealist predictions. It is shown that the two financially most... (More)
This thesis provides an analysis of the Eurozone‟s crisis management during the European debt crisis from a Neorealist perspective. It assesses the explanatory power of Neorealism for the counter-measures taken in response to the European debt crisis. The main argument is that in times of crisis, the member states of the European Union may fall back to Neorealist behavior, despite any integrating efforts made under non-crisis conditions. The thesis combines quantitative and qualitative analysis with the quantitative part descriptively assessing the financial power relations within the Eurozone and the qualitative part providing evidence for a crisis management congruent with Neorealist predictions. It is shown that the two financially most powerful states during the European debt crisis, Germany and France, decisively shaped the implementation of the EFSF, the ESM, and the European Fiscal Compact. Furthermore, evidence is given that those three counter-measures were implemented outside of the European Union legal framework and designed after intergovernmental premises. The thesis thus concludes that the three most important counter-measures to the European debt crisis can be explained and analyzed through the theory of Neorealism. (Less)
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author
Hemmerath, Fabian LU
supervisor
organization
course
SIMV07 20151
year
type
H2 - Master's Degree (Two Years)
subject
keywords
Eurozone, crisis management, European debt crisis, financial state power, Neorealism
language
English
id
7765665
date added to LUP
2015-08-31 14:16:34
date last changed
2015-08-31 14:16:34
@misc{7765665,
  abstract     = {This thesis provides an analysis of the Eurozone‟s crisis management during the European debt crisis from a Neorealist perspective. It assesses the explanatory power of Neorealism for the counter-measures taken in response to the European debt crisis. The main argument is that in times of crisis, the member states of the European Union may fall back to Neorealist behavior, despite any integrating efforts made under non-crisis conditions. The thesis combines quantitative and qualitative analysis with the quantitative part descriptively assessing the financial power relations within the Eurozone and the qualitative part providing evidence for a crisis management congruent with Neorealist predictions. It is shown that the two financially most powerful states during the European debt crisis, Germany and France, decisively shaped the implementation of the EFSF, the ESM, and the European Fiscal Compact. Furthermore, evidence is given that those three counter-measures were implemented outside of the European Union legal framework and designed after intergovernmental premises. The thesis thus concludes that the three most important counter-measures to the European debt crisis can be explained and analyzed through the theory of Neorealism.},
  author       = {Hemmerath, Fabian},
  keyword      = {Eurozone,crisis management,European debt crisis,financial state power,Neorealism},
  language     = {eng},
  note         = {Student Paper},
  title        = {Money makes the world go round – On European financial power relations and the reemergence of Neorealism's explanatory power in analyzing the management of the European debt crisis},
  year         = {2015},
}