A genealogy of Eurozone governance
This chapter focuses on the evolution of elite narratives and policy practices in the Eurozone up to the emergence in the 2010s crisis of a widely recognized ‘governance’ imperative. This imperative is interpreted by many critics as a manifestation of what Foucault called neoliberal governmentality in the drive to institutionalize austerity at the EU level. I make the case for a more complex genealogy of that imperative by tracing it back to a debate in the 1990s between French proponents of ‘gouvernement économique’ and German pronouncements in favour of ‘political union’. I also show that because they overlook the many threads of that decentred genealogy, many critics of austerity adopt a truncated view of Eurozone governance reforms.