Year: 2026
Type: article
Abstract: This study unfolds the political legacy of European monetary authorities in peripheral countries since the Great Depression. The argument is that a specific form of European economic governmentality was created by the European central bank governors and extended to the periphery of the world system. Despite the inextricable nature of politics and economics, the money authorities have not been popularly mentioned so far among the founding fathers of any international order, but are usually overshadowed by the political actors. This study focuses on the European monetary authorities as the key decision-makers determinant in the restoration of the liberal international order following the Great Depression. It is indicated that the European central bank authorities drafting different bail-out programs in the 1930s are revisited today as part of a quest for post-Cold War international system alternatives. This longue-durée historical approach exposes the cyclical turns of the European economic recovery programs and their global reach. Approaching these programs as a political dialogue sphere across times and societies, this study tests the durability and resilience of the European economic governmentality and its political legacy today.
Author: Emine Tutku Vardağlı
Institution: Istanbul Aydın University
Language: Turkish
Subfield: Finance
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4416628988
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