The European Union, financialization and crisis: a perverse game

Abstract

The crisis that began in 2007 has fed off itself thanks to the policies and mechanisms than are making any exit strategy more difficult. The crisis of financialization has in this way created a perverse process, the financialization of the crisis, which has been expressed in a frontal attack against the participation of the state in the economy, as well as the dismantling of the welfare state, and has imposed as an exit strategy the reduction of the general population’s living conditions.