The study sketches out the great intellectual tradition of labour history writing accompanied with well selected bibliography. He sets the milestones for historians and laymen interested in the topic with a focus beyond Europe. He presents that the old school labour history was basically Europe centred but the new labour history is especially interested in global context and understanding the world outside of Europe.

The author points out the historical roots of the Greek and eurozone crises, highlighting the outcome of the independence of the ECB and the lack of political integration. Instead of austerity measures, he is suggesting a new Marshall Plan aiming the improvement of productivity in order to help the periphery of Europe. Germany should reconsider its readiness for cooperation and Greece declaring bankruptcy.