Professor Patomäki: ‘There are good reasons to expect that the neoliberal era is coming to an end’

Continuing our interview series of public intellectuals across Europe on the causes and effects of the crisis, Euro Crisis in the Press talks to Heikki Patomäki, Professor of World Politics at University of Helsinki and author of a recent monograph on the anatomy of the Euro crisis (published in English by Zed Books in March 2013). Professor Patomäki argues that neoliberal European integration has become counterproductive; the legitimacy of the EU has hinged upon economic growth and welfare-state model which have been undermined by the real world consequences of neoclassical economic framings and policies. Radical austerity measures especially in the crisis-hit countries have worsened the situation and translated into deteriorating support for the Union. He notes that resolving the crisis through treaty-change would in reality mean more than just amending details of the initial agreements; this would necessitate changes to the philosophy and theories that underwrite the EU project. Professor Patomäki calls for a new identity and institutions for the EU, along democratic global Keynesian lines. He sees a role for critical social science research in generating solutions to the ongoing crisis and in doing so fostering hope as an antidote to the desperation seen across Europe.