by Andy Storey
“When the Syriza government in Greece sought to renegotiate austerity, German finance minister Schäuble said Elections change nothing… , there are rules, while European Commission President Jean-Claude Juncker stated there can be no democratic choice against the European treaties. What this paper has above all else sought to demonstrate is that such unyielding rhetoric conceals a consistent willingness an the part of powerful forces in Europe to bend the rules and defy the treaties when it is in the interests of certain actors (including themselves) for them to do so.”
The paper begins with a brief overview of the essential characteristics of ordoliberalism, before moving on to assessments of how muck influence ordoliberalism has actually wielded over German and European economic policy. The conclusion reflects on the social rote that is played by a claimed commitment to ordoliberal principles — even if they are not followed in practice.