austerity

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    Can only Eurosceptics oppose austerity? How divisions over integration have replaced the left/right divide in the European Parliament

Can only Eurosceptics oppose austerity? How divisions over integration have replaced the left/right divide in the European Parliament

How do economic platforms interact with support for European integration? Harmen van der Veer and Simon Otjes write that the dynamics within the European Parliament have undergone a shift since the beginning of the Eurozone crisis. Whereas in previous periods the key divide in the Parliament centred on left/right issues, opposition to European integration has now become intertwined with […]

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    Wolfgang Schäuble: “Europe will only work if the rules are the same for smaller and bigger member states”

Wolfgang Schäuble: “Europe will only work if the rules are the same for smaller and bigger member states”

Germany has had a central role in shaping the policies that have been implemented to address the Eurozone crisis and the persistent economic problems faced by European countries in its aftermath. Following a recent lecture at LSE, Germany’s finance minister, Wolfgang Schäuble, took questions from LSE staff and students on the need for rules to be applied consistently across […]

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    Debunking myths: Why austerity and structural reforms have had little to do with Ireland’s economic recovery

Debunking myths: Why austerity and structural reforms have had little to do with Ireland’s economic recovery

Ireland was one of the countries hardest hit by the financial crisis, however it has emerged with a strong recovery and now boasts the fastest pace of economic growth of any country in the Euro area. But what explains the Irish recovery and could it act as a model for other Eurozone states? Aidan Regan writes that contrary to […]

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    Why the lump of labour fallacy helps explain some countries being more anti-austerity than others

Why the lump of labour fallacy helps explain some countries being more anti-austerity than others

Why do citizens in some countries oppose austerity policies more forcefully than citizens in other states, even when the impact of such policies on living standards is relatively similar? Achim Kemmerling presents a psychological explanation for this variation in opinions across Europe. He argues that countries with a stronger belief in the ‘zero-sum’ nature of labour markets are more […]

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    EU governments must avoid scapegoating the public sector for Europe’s economic problems

EU governments must avoid scapegoating the public sector for Europe’s economic problems

How have different European countries implemented austerity measures since the financial crisis? Andrea Müller, Irene Ramos-Vielba, Werner Schmidt, Annette Thörnquist and Christer Thörnqvist write on developments within four countries: Germany, Spain, Sweden and the UK. They argue that there is little evidence to suggest that the failure to modernise the public sector in these countries was a key driver […]

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    The ECB should focus on the threat of deflation rather than maintaining austerity

The ECB should focus on the threat of deflation rather than maintaining austerity

The European Central Bank will hold its latest policy meeting today. Ahead of the meeting, David Woodruff writes that while growth has resumed in the Eurozone, there are still serious problems across the single currency area, with unemployment at exceptionally high levels in several countries. He argues that the ECB’s primary focus should be on preventing deflation, and that […]

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