The euro’s design deliberately enforced German-model reforms through power asymmetries.
Evidence
The main objective of the euro’s institutional design was always the use of power asymmetries to enforce specific reforms to reshape European economies around the German model: wage moderation, disinflation, competitiveness. — Arthur Borriello and Anton Jäger, The Populist Moment, 110
Categorization
- XREF: Connects to Wolfgang Streeck’s ‘fiscal vs debt states’ account and ordoliberalism critique from ch2. — connects to: Maastricht deficit rules were arbitrary and selectively enforced yet became the austerity stick.; Euro-zone crisis management explicitly treated elections as threatening sound policy. — Arthur Borriello and Anton Jäger, The Populist Moment: The Left After the…, 115; The EU’s constitutional design embodies German ordoliberal principles — Mark Blyth, Austerity: The History of a Dangerous…, 374 (+3 more)
Broader Connections
- German ordoliberalism was exported to Europe via the ECB constitution and Euro rules
#corroborates(0.95) — Mark Blyth, Austerity, 375 - The ECB’s institutional design copied the Bundesbank’s neoliberal design
#corroborates(0.85) — Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, 636 - The EU’s constitutional design embodies German ordoliberal principles
#expands(0.82) — Mark Blyth, Austerity, 374