When half decade ago the US financial sector was near collapse who would have guessed that the spiral will continue through the debt crisis in the European periphery, across the entire euro zone crisis, to the questioning of further EU integration, which will among others give us the right to restore capitalism in Eastern Europe, and we will finally be able to understand the process as peripherization, instead of observing it as a two decade long discourse of “transition”.

Today, when witnessing a very intense public discourse about the “global economic crisis”, the question is whether this is just another “regular” crisis in capitalism is capitalism itself, or is it decisive crisis? Does it make sense to talk about the transformation of neoliberalism in new crisis circumstances – that gives birth to something new – and can we continue the be the basic framework of (neo) liberal ideology that has so far demonstrated ability to absorb subversive activities by including them it its structure. Which institutional measures are to “rescue” the crisis of neoliberal governments and to serve the reactions of global people?

This book attempts to provide answers to these and many other related issues. It was created as a result of the summer school “Crisis, Answers, Left Wings”, 2011, organized by the Rosa Luxemburg Foundation. The school’s theme was the current economic crisis, its causes and consequences for the capitalist system and its political ideology, and critical analysis of potential left to exploit the crisis for its own review, the theoretic (re) articulation and strengthening the policy capacity. Given the complexity of the issues the entirety was impossible to include, as well as the dynamics of turbulent social change caused by global crisis, we supplemented the publication with additional texts of teacher and lecturer contributions, to provide a broad overview of contemporary analysis and debate on the left wing.