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The Political Legacy of European Central Bank Authorities since the Great Depression
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.
Keywords
Ethical Statement
The author declares no conflict of interest.
Thanks
The author has no acknowledgments to declare.
References
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Details
Primary Language
English
Subjects
International Economics (Other), European and Region Studies
Journal Section
Research Article
Authors
Early Pub Date
October 7, 2025
Publication Date
February 20, 2026
Submission Date
April 15, 2025
Acceptance Date
August 4, 2025
Published in Issue
Year 2026 Number: Advanced Online Publication
APA
Vardağlı, E. T. (2025). The Political Legacy of European Central Bank Authorities since the Great Depression. Ankara Avrupa Çalışmaları Dergisi, Advanced Online Publication, 179-206. https://doi.org/10.32450/aacd.1676544
AMA
1.Vardağlı ET. The Political Legacy of European Central Bank Authorities since the Great Depression. ARES. 2025;(Advanced Online Publication):179-206. doi:10.32450/aacd.1676544
Chicago
Vardağlı, Emine Tutku. 2025. “The Political Legacy of European Central Bank Authorities since the Great Depression”. Ankara Avrupa Çalışmaları Dergisi, no. Advanced Online Publication: 179-206. https://doi.org/10.32450/aacd.1676544.
EndNote
Vardağlı ET (October 1, 2025) The Political Legacy of European Central Bank Authorities since the Great Depression. Ankara Avrupa Çalışmaları Dergisi Advanced Online Publication 179–206.
IEEE
[1]E. T. Vardağlı, “The Political Legacy of European Central Bank Authorities since the Great Depression”, ARES, no. Advanced Online Publication, pp. 179–206, Oct. 2025, doi: 10.32450/aacd.1676544.
ISNAD
Vardağlı, Emine Tutku. “The Political Legacy of European Central Bank Authorities since the Great Depression”. Ankara Avrupa Çalışmaları Dergisi. Advanced Online Publication (October 1, 2025): 179-206. https://doi.org/10.32450/aacd.1676544.
JAMA
1.Vardağlı ET. The Political Legacy of European Central Bank Authorities since the Great Depression. ARES. 2025;:179–206.
MLA
Vardağlı, Emine Tutku. “The Political Legacy of European Central Bank Authorities since the Great Depression”. Ankara Avrupa Çalışmaları Dergisi, no. Advanced Online Publication, Oct. 2025, pp. 179-06, doi:10.32450/aacd.1676544.
Vancouver
1.Emine Tutku Vardağlı. The Political Legacy of European Central Bank Authorities since the Great Depression. ARES. 2025 Oct. 1;(Advanced Online Publication):179-206. doi:10.32450/aacd.1676544