Perspectives on the Eurozone Crisis: Assessing the Effects on the Political Systems of Germany, France, and the United Kingdom

In 2010, the reverberations of the 2008 Global Financial Crisis had created a whole new crisis in Europe. Five Eurozone countries, Greece, Spain, Portugal, Ireland, and Cyprus all had requested financial aid packages, unable to repay their national debt. The crisis is ongoing in Europe ever since, becoming the greatest challenge presented to the Eurozone since the monetary union was formed. The intent of this thesis is to explore the effects of the Eurozone crisis on the political systems of Germany, France, and the United Kingdom. This thesis will study the effects utilizing the most prominent perspectives in political economy: neoliberalism, neomercantilism, and structuralism. This thesis also attempts to explain the recent rise in Euroscepticism in each country, whilst seeking an explanation in the rise in three Eurosceptic parties: Alternative für Deutschland from Germany, National Front from France, and the United Kingdom Independence Party. Lastly, this thesis conducts a comparative analysis to find the common elements in each case study, as well as the areas in which the studies diverge