New Books in European Politics

The UK’s transition from legally withdrawing from the EU to leaving the union’s single market will come to an end at midnight on December 31 with no successor trade agreement yet in place.For the UK’s financial sector, which accounts for 7% of the country’s economy and a million of its jobs, whether there is such an agreement and what shape it takes really matters.In Brexit and Financial Regulation (Oxford University Press, 2020), co-editors Jonathan Herbst and Simon Lovegrove have corralled 26 lawyers from 12 leading firms and chambers to explain why.Between them, they cover the history of the withdrawal process, the likely impact of Brexit on regulations of everything from how bankers are rewarded for success to how insolvent banks are wound up, and what could happen next in the negotiations.Jonathan Herbst is Global Head of Financial Services Regulation at law firm Norton Rose Fulbright.Tim Gwynn Jones is an economic and political-risk analyst at Medley Global Advisors. Learn more about your ad choices. Visit megaphone.fm/adchoices

Walking the Highwire: Rebalancing the European Economy in Crisis (Palgrave Macmillan, 2020) tells the story of the Eurozone’s crisis from the perspective of an insider who now sits on the European Central Bank’s governing council.Part-policy proposal, part-autobiography, and part-political memoir, at the heart of Walking The Highwire are the four critical years from 2010 to 2014 when Olli Rehn served as European Commissioner for economic and monetary affairs.The book tells us what took a football-mad boy from Southern Savonia to Brussels – via Oxford and Minnesota – and reveals the behind-the-scenes fights and compromises that shaped the crisis and pulled the euro from the brink.Olli Rehn has been governor of the Bank of Finland since 2018, was Finnish minister of economic affairs (2015-2016), European Commissioner for economic and monetary affairs (2010-2014), and commissioner for enlargement (2004-2010). He holds a doctorate from the University of Oxford in international political economy.Tim Gwynn Jones is an economic and political-risk analyst at Medley Global Advisors.  Learn more about your ad choices. Visit megaphone.fm/adchoices

First published in 1992 before the creation of the euro, Paul De Grauwe’s Economics of Monetary Union (Oxford University Press, 2020) has become a standard text for undergraduates seeking to understand this remarkable but “fragile” project.Updated every two years and now in its 13th edition, the book can hardly keep up with economic and policy developments in the 19-nation Euro Area.But De Grauwe, who is still teaching at the London School of Economics after retiring from the Katholieke Universiteit Leuven, can always be relied upon to plug the gaps with policy ideas. In the latest of these, he made the case for the European Central Bank to monetize governments’ pandemic-related deficits.Paul De Grauwe is the John Paulson Chair in European Political Economy at the LSE’s European Institute.Tim G. Jones is an economic and political-risk analyst at Medley Global Advisors. Learn more about your ad choices. Visit megaphone.fm/adchoices

Many on the Left see the European Union as a fundamentally benign project with the potential to underpin ever greater cooperation and progress. If it has drifted rightward, the answer is to fight for reform from within.In this iconoclastic polemic, economist Costas Lapavitsas demolishes this view. In The Left Case Against the EU (Polity, 2018), he contends that the EU's response to the Eurozone crisis represents the ultimate transformation of the union into a neoliberal citadel that institutionally embeds austerity, privatization, and wage cuts.Concurrently, the rise of German hegemony has divided the EU into an unstable core and dependent peripheries. These related developments make the EU impervious to meaningful reform. The solution is therefore a direct challenge to the EU project that stresses popular and national sovereignty as preconditions for true internationalist socialism.Lapavitsas's powerful manifesto for a left opposition to the EU upends the wishful thinking that often characterizes the debate and will be a challenging read for all on the Left interested in the future of Europe.Costas Lapavitsas is Professor of Economics at the School of Oriental and African Studies, University of London. His research during the last few years has focused on the Eurozone and the financialization of capitalism. He has published widely in the academic field and writes frequently for the international and the Greek press. In January 2015 he was elected in the Greek Parliament with the incoming SYRIZA party, but left in August 2015 when the third bail-out of Greece was signed.His most recent books include Capitalism in the Ottoman Balkans, with P. Cakiroglu, I.B.Tauris, 2019, The Left Case Against the EU, Polity Press, 2018, Against the Troika: Crisis and Austerity in the Eurozone, with H. Flassbeck, Verso, 2015, and Profiting Without Producing, Verso, 2013.Daniel Lucas is a student at the University of Groningen, studying European and International law. Please contact through daniellucas2001@gmail.com Learn more about your ad choices. Visit megaphone.fm/adchoices

To many observers, European law seems like the endpoint of a mostly random walk through history. Certainly the trajectory of legal systems in the West over the past 2,500 years is far from self-evident. In A Short History of European Law: The Last Two and a Half Millennia (Harvard UP, 2019), Tamar Herzog offers a new road map that reveals underlying patterns and unexpected connections. By identifying what European law was, where its iterations could be found, who was allowed to make and implement it, and what the results were, she ties legal norms to their historical circumstances, and allows readers to grasp their malleability and fragility.Herzog describes how successive European legal systems built upon one another, from ancient times through the establishment and growth of the European Union. Roman law formed the backbone of each configuration, though the way it was understood, used, and reshaped varied dramatically from one century and place to the next. Only by considering Continental civil law and English common law together do we see how they drew from and enriched this shared tradition.Expanding the definition of Europe to include its colonial domains, Herzog explains that British and Spanish empires in the New World were not only recipients of European legal traditions but also incubators of new ideas. Their experiences, as well as the constant tension between overreaching ideas and naive localism, explain how European law refashioned itself as the epitome of reason and as a system with potentially global applications.Tamar Herzog is Monroe Gutman Professor of Latin American Affairs and Radcliffe Alumnae Professor in the History Department at Harvard University, and Affiliated Faculty Member at Harvard Law School.Mark Molloy is the reviews editor at MAKE: A Literary Magazine. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Russian state is back. That may not be a big surprise to Russia watchers. The degree to which it is a KGB state, however, is documented in great detail in Catherine Belton's new book Putin's People: How the KGB Took Back Russia and Then Took on the West (Farrar, Straus and Giroux 2020). Certain elements of the KGB were playing a "long game" as early as the 1980s and saw the need for an alternative to the sclerotic late Soviet system. And they were going to be part of that post-Soviet regime. Fast forward 20 years later, these security and intelligence officials are still playing a long game financially, moving billions of dollars around off-shore to forward the interests of the Russian state, and their own.Daniel Peris is Senior Vice President at Federated Investors in Pittsburgh. Trained as a historian of modern Russia, he is the author most recently of Getting Back to Business: Why Modern Portfolio Theory Fails Investors. You can follow him on Twitter @HistoryInvestor or at http://www.strategicdividendinvestor.com Learn more about your ad choices. Visit megaphone.fm/adchoices

In his new book, The Fourth Reich: The Specter of Nazism from World War II to the Present (Cambridge University Press, 2019), Gavriel D. Rosenfeld reveals, for the first time, these postwar nightmares of a future that never happened and explains what they tell us about Western political, intellectual, and cultural life. He shows how postwar German history might have been very different without the fear of the Fourth Reich as a mobilizing idea to combat the right-wing forces that genuinely threatened the country's democratic order. He then explores the universalization of the Fourth Reich by left-wing radicals in the 1960s, its transformation into a source of pop culture entertainment in the 1970s, and its embrace by authoritarian populists and neo-Nazis seeking to attack the European Union since the year 2000. This is a timely analysis of a concept that is increasingly relevant in an era of surging right-wing politics.Gavriel Rosenfeld is Professor of History in Judaic Studies at Fairfield University.Craig Sorvillo is a PhD candidate in modern European history at the University of Florida. He specializes in Nazi Germany, and the Holocaust. He can be reached at craig.sorvillo@gmail.com or on twitter @craig_sorvillo. Learn more about your ad choices. Visit megaphone.fm/adchoices

The former West German chancellor Helmut Schmidt grew up as a devout Anglophile, yet he clashed heavily and repeatedly with his British counterparts Wilson, Callaghan, and Thatcher during his time in office between 1974 and 1982. Helmut Schmidt and British-German Relations: A European Misunderstanding (Cambridge University Press, 2019) looks at Schmidt's personal experience to explore how and why Britain and Germany rarely saw eye to eye over European integration, uncovering the two countries' deeply competing visions and incompatible strategies for post-war Europe. But it also zooms out to reveal the remarkable extent of simultaneous British-German cooperation in fostering joint European interests on the wider international stage, not least within the transatlantic alliance against the background of a worsening superpower relationship. By connecting these two key areas of bilateral cooperation, Mathias Haeussler of the University of Regensburg offers a major revisionist reinterpretation of Anglo-German bilateral relationship under Schmidt, relevant to anybody interested in British-German relations, European integration, and the Cold War.Charles Coutinho Ph. D. of the Royal Historical Society, received his doctorate from New York University. His area of specialization is 19th and 20th-century European, American diplomatic and political history. He has written recently for Chatham House’s International Affairs. Learn more about your ad choices. Visit megaphone.fm/adchoices

Should we understand the rise of Trump or the success of Brexit in terms of populism? Culture? Xenophobia? Do the same political forces produce Sanders and Trump? In his new book Anti-System Politics: The Crisis of Market Liberalism in Rich Democracies (Cambridge University Press, 2020), Jonathan Hopkin provides case studies of Spain, Italy, Greece, the US, and UK to argue that the election results in rich Western democracies are not the result of populism or hostility to migration – but opposition to the inequalities brought on by the economic policy of neo-liberalism. Hopkin’s finely grained qualitative study emphasizes the ways in which economics fuels movements from both left and right. Anti-systems candidates attack the ways in which neo-liberal institutions and politics distribute benefits and risks. For Hopkin, the greater the impact of economic inequality and hardship, the higher the vote share for anti-systems candidates and policies.Hopkin looks back to look forward. As nations abandoned the post-war model of egalitarian capitalism in the 1970s, they triggered an erosion of democratic process in favor of technocratic government that left little room for voters – or their leaders – to influence policy. After the Global Financial Crisis of 2007-2008, voters rejected candidates associated with an economic system that favored bailing out banks yet imposed austerity on citizens. Anti-Systems Politics provides clear and compelling case studies that provide insights on contemporary politics from Europe to the US.Susan Liebell is associate professor of political science at Saint Joseph’s University in Philadelphia. She is the author of Democracy, Intelligent Design, and Evolution: Science for Citizenship (Routledge, 2013). Learn more about your ad choices. Visit megaphone.fm/adchoices

The Baltics are about to be thrust onto the world stage. With a 'belligerent' Vladimir Putin to their east (and 'expansionist' NATO to their west), Estonia, Latvia and Lithuania are increasingly the subject of unsettling headlines in both Western and Russian media. But how real are these fears, subject as they are to media embellishment, qualification and denial by both Russia and the West? What do they mean for those living in the Baltics - and for the world?In The Shadow in the East: Vladimir Putin and the New Baltic Front (I. B. Tauris, 2020), Aliide Naylor takes us inside the geopoltitics of the region. Travelling to the heart of Estonia, Latvia and Lithuania she explores modernity in the region that birthed Skype, investigates smuggling and reports of troop movements in the borderlands, and explains the countries' unique cultural identities. Naylor tells us why the Baltics matter, arguing persuasively that this region is about to become the new frontline in the political struggle between East and West.Aliide Naylor is a freelance journalist focusing on Russia and eastern Europe, her writing has appeared in The Guardian, New Statesman, POLITICO Europe, frieze, Vice, among others. Naylor has travelled to all corners of the Baltic states and has also lived in both St. Petersburg and Moscow, where she served as Arts Editor at The Moscow Times.Steven Seegel is professor of history at University of Northern Colorado. Learn more about your ad choices. Visit megaphone.fm/adchoices