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Cover -- Title Page -- Copyright Page -- Contents -- List of Tables, Figures, and Boxes -- Acknowledgments -- Introduction. The Sovereign Debt Puzzle -- PART I. THE THEORY OF SOVEREIGN DEBT -- CHAPTER 1. Why Do Countries Repay Their Debts? -- CHAPTER 2. A Critical Political Economy Approach -- CHAPTER 3. The Structural Power of Finance -- CHAPTER 4. Three Enforcement Mechanisms -- PART II. A BRIEF HISTORY OF SOVEREIGN DEFAULT -- CHAPTER 5. The Making of the Indebted State -- CHAPTER 6. The Internationalization of Finance -- CHAPTER 7. From Great Depression to Financial Repression -- PART III. THE LOST DECADE: MEXICO (1982-1989) -- CHAPTER 8. Syndicated Lending and the Creditors' Cartel -- CHAPTER 9. The IMF's "Triumphant Return" in the 1980s -- CHAPTER 10. The Rise of the Bankers' Alliance -- CHAPTER 11. "The Rich Got the Loans, the Poor Got the Debts" -- PART IV. THE GREAT DEFAULT: ARGENTINA (1999-2005) -- CHAPTER 12. The Exception That Proves the Rule -- CHAPTER 13. From IMF Poster Child to Wayward Student -- CHAPTER 14. The Rise and Fall of the Patria Financiera -- CHAPTER 15. "Even in a Default There Is Money to Be Made" -- PART V. THE SPECTER OF SOLON: GREECE (2010-2015) -- CHAPTER 16. The Power of Finance in the Eurozone -- CHAPTER 17. Anatomy of a "Holding Operation" -- CHAPTER 18. The Establishment Digs In -- CHAPTER 19. The Socialization of Greece's Debt -- CHAPTER 20. The Defeat of the Athens Spring -- Conclusion. Shaking Off the Burden -- Appendix. A Word on Methodology -- Notes -- References -- Index

Abstract
Over the past decade, Wolfgang Streeck has emerged as one of the most prominent voices in the debate on the crisis of democratic capitalism. This article provides a critical appraisal of Streeck's recent writings in light of his wider intellectual trajectory, tracing the evolutions and continuities in his work over time; highlighting its important contributions to our understanding of the present crisis; and presenting a fourfold critique of his latest book on the end of capitalism. The main argument is that Streeck's work, while very valuable for its elucidation of the dynamics behind the demise of social democracy, ultimately remains plagued by a corporatist residue that keeps him from drawing his increasingly radical critique of capitalism to its logical conclusions. As a result, Streeck's embrace of an exceedingly catastrophist worldview, devoid of any emancipatory potential, has tempted him to veer dangerously close to the welfare chauvinism of the nationalist right.

Jerome Roos is an LSE Fellow in International Political Economy (IPE) at the Department of International Development of the London School of Economics. His research focuses on the political economy of global finance, sovereign debt and international crisis management. He holds a dual degree in International Political Economy from Sciences Po Paris and the London School of Economics, and a PhD in Political and Social Sciences from the European University Institute in Florence. Jerome's first book,Why Not Default? has won the first Immanuel Wallerstein Memorial Book Award from the American Sociological Association. The book,published by Princeton University Press in 2019, seeks tounravel a striking puzzle at the heart of the global debt regime: why, despite frequent crises and the immense costs of repayment, do so many heavily indebted countries continue to service their international debts?