Austerity : European democracies against the wall

Resource Information

The work Austerity : European democracies against the wall represents a distinct intellectual or artistic creation found in European University Institute. This resource is a combination of several types including: Work, Language Material, Books.

Label

Austerity : European democracies against the wall

Title remainder

European democracies against the wall

Statement of responsibility

Lorenzo Bini Smaghi

Creator

• Bini Smaghi, Lorenzo

Subject

• Democracy -- European Union countries
• Financial crises -- European Union countries

Language

fre

Summary

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 --

Assigning source

Publisher description

Cataloging source

DLC

Index

no index present

Literary form

non fiction