European Perspectives on the Global Financial crisis: Introduction

The global financial crisis represents an extraordinary opportunity for students of European political economy. Firstly it provides a unique natural experiment for understanding the functioning of economic and monetary union (EMU) in a world of intense but incomplete financial integration at the regional and global level. Secondly, it offers a case study into the EU’s ability to provide policy co-ordination at home and leadership abroad in the absence of more centralized modes of decision-making. Thirdly, it allows us to observe the response of both the euro area and Europe’s distinct models of capitalism to a colossal common shock.This special issue of the JCMS tackles these and other issues from a variety of disciplinary backgrounds.