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European regionalism and the left$
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Gerard Strange and Owen Worth

Print publication date: 2012

Print ISBN-13: 9780719085734

Published to Manchester Scholarship Online: May 2013

DOI: 10.7228/manchester/9780719085734.001.0001

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US power and the crisis of social democracy in Europe's second project of integration

US power and the crisis of social democracy in Europe's second project of integration

Chapter:
(p.20) (p.21) 1 US power and the crisis of social democracy in Europe's second project of integration
Source:
European regionalism and the left
Author(s):

Magnus Ryner

Publisher:
Manchester University Press
DOI:10.7228/manchester/9780719085734.003.0002

This chapter draws on the work on Poulantzas to argue that European social democracy is in crisis because European Integration since the 1980s has been articulated within a relationship of structural subordination to US-led financial capital, to which European capital has itself increasingly gravitated. This has also been the determining parameter of the state-as-social relation, and contradicts the post-war welfare settlement. Against this backdrop, Europe has struggled to rearticulate a new social compromise and politics of social mediation. The attendant crisis of legitimisation has primarily benefited right-wing populism, which does not auger well for the health of Europe's synthesis of capitalism with democracy.

Keywords:   European integration, Nicos Poulantzas, US financial capital, crisis of legitimation, social democracy

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