Austerity : European democracies against the wall /

The crisis in the eurozone has had a dramatic impact on the economic and social fabric of European countries. However important it may be, the economic dimension is only the symptom of a broader problem. The crisis is primarily political in nature. Lorenzo Bini Smaghi argues in this book that the cr...

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Bibliographic Details
Main Author: Bini Smaghi, Lorenzo.
Format: Book
Language:English
Published: Brussels : Center for European Policy Studies, c2013.
Subjects:
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245 1 0 |a Austerity :  |b European democracies against the wall /  |c Lorenzo Bini Smaghi. 
246 1 |a European democracies against the wall 
260 |a Brussels :  |b Center for European Policy Studies,  |c c2013. 
300 |a 151 p. :  |c 24 cm 
504 |a Includes bibliographical references (pages 150-151). 
505 0 0 |t Introduction --  |t Dead on arrival --  |t A premature birth --  |t No turning back --  |t A crisis that got off on the wrong foot --  |t Not a crisis for everybody --  |t A misunderstood crisis --  |t Without a safety net --  |t How to hurt yourself --  |t There are no painless cures --  |t The game of 'chicken' --  |t The price of pride --  |t It's the banks' fault --  |t Banking union --  |t Dying by austerity --  |t National austerity and European growth --  |t A German Europe --  |t The Eurobond illusion --  |t Printing money --  |t Buying time --  |t Sovereignty belongs to the people --  |t Conclusions --  |t Chronology --  |t Selected Readings. 
520 |a The crisis in the eurozone has had a dramatic impact on the economic and social fabric of European countries. However important it may be, the economic dimension is only the symptom of a broader problem. The crisis is primarily political in nature. Lorenzo Bini Smaghi argues in this book that the crisis reflects the inability of western democracies to solve problems that have been building for over two decades. He finds that democratically elected officials are loathe to take unpopular decisions that could jeopardise their re-election. Emergency thus becomes the engine of political action, and the justification for corrective measures vis-à-vis the voters. As a consequence, the cure in the form of austerity, administered belatedly and under pressure from the markets, becomes even more painful and unpopular, giving rise to populist movements and endangering democracy itself.  |c Publisher description. 
650 0 |a Financial crises  |z European Union countries. 
650 0 |a Democracy  |z European Union countries. 
651 0 |a European Union countries  |x Politics and government  |y 21st century. 
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651 0 |a European Union countries  |x Economic policy. 
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