Jean Monnet Centre of ExcellenceCENTER FOR EUROPEAN STUDIES



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Financialisation, Economy, Society & Sustainable development



7th Framework Programme

SSH-2010-1.2-1: Changing the role of the financial system to better serve economic, social and environmental objectives



FESSUD is a multidisciplinary, pluralistic project which aims to forge alliances across the social sciences, so as to understand how finance can better serve economic, social and environmental needs.

FESSUD brings together expertise from many leading universities to look afresh at how the financial system affects the world around us. We need to know what can be done to make the financial system work for society, the economy and the environment and not – as has sometimes been the case – the other way round.

Some central issues FESSUD aims to address are; What is financialisation and how has it impacted on the achievement of specific economicsocial, and environmental objectives? What is the nature of the relationship between financialisation and the sustainability of the financial system, economic development and the environment? What lessons can be drawn from the crisis about the nature and impacts of financialisation? What are the requisites of a financial system able to support a process of sustainable development, broadly conceived?



01 December 2011–30 November 2016(60 months)


Project Leader and Partners

1.University of Leeds,UK(Coordinator)

2. Universita' DegliStudi di Siena,Italy

3.SchoolofOrientaland African Studies,University of London,UK

4. Fondation Nationale des SciencesPolitiques,France

5. Pour la Solidarite Asbl Pls,Belgium

6. Uniwersytet Ekonomiczny wPoznaniu,Poland

7.Tallinna Tehnikaulikool,Estonia

8. Hochschule fur Wirtschaft undRechtBerlin,Germany

9. Centro deEstudos Sociais,Portugal

10.Pannon Egyetem,Hungary

11. National and KapodistrianUniversity of Athens,Greece

12.Middle East Technical University,Turkey

13. Lunds Universitet, Sweden

14.Universityof TheWitwatersrandJohannesburg,South Africa

15. Universidad Del Pais VascoEhu Upv,Spain 

METU’s role

METU conducts research in the following work packages:


WP1. Management

WP2. Comparative Perspectives on Financial Systems in the EU

WP3. Causes and consequences of the financial crisis

WP6. Finance, development and global governance

WP7. Finance, environment and sustainability

WP8. Finance, real economy and the State

WP9. Financial stability and macroeconomic policies

WP10. Dissemination and impact

WP11. Foresight

WP12. Synthesis and conclusions

Project Website


Studies in Financial Systems No 11: Comparative Perspective on Financial System in the EU:

Country Report onTurkey

Available at: