This volume focuses on the aftermath of the euro crisis and whether the reforms have brought about lasting changes to the economic and political structures of the crisis countries or if the changes were short-term and easily abandoned post-bailout and post-recovery. Starting with an analysis of the state of euro area governance at the onset of the crisis and the ensuing reforms, the book considers structural conditions as well as those specific to the domestic political economy of most of the countries affected by the crisis, including Greece, Ireland, Portugal, Spain, and Italy. It presents up-to-date and incisive analysis of the aftermath of the crisis and suggests how we can situate it within our understanding of different national growth models in Europe. This book will be of key interest to scholars, students and practitioners interested in the Euro Crisis, Economic and Monetary Union, European Union and European politics and more broadly to Comparative Politics, Political Economy, International Relations, Economics, Finance, Business and Industry.

The book sheds new light on the history of the Eurozone crisis and provides crucial lessons for the way forward.

Much of the critical discussion of the European political economy and the Eurozone crisis has focused upon a sense that solidaristic achievements built up during the post-war period are being continuously unravelled. Whilst there are many reasons to lament the trajectory of change within Europe’s political economy, there are also important developments, trends and processes which have acted to obstruct, hinder and present alternatives to this perceived trajectory of declining social solidarity. These alternatives have tended to be obscured from view, in part as a result of the conceptual approaches adopted within the literature. Drawing from examples across the EU, this book presents an alternative narrative and explanation for the development of Europe’s political economy and crisis, emphasising the agency of what are typically considered subordinate (and passive) actors. By highlighting patterns of resistance, disobedience and disruption it makes a significant contribution to a literature that has otherwise been more concerned to understand patterns of heightened domination, exploitation, inequality and neoliberal consolidation. It will be of interest to students and scholars alike.

In recent years the countries of southern Europe have undergone, with varying intensity, a serious and prolonged economic crisis. Most have had to implement comprehensive economic adjustment programmes, including a wide range of structural reforms. Economic Crisis and Structural Reforms in Southern Europe examines these reforms, drawing policy lessons from their successes and failures. This book employs two basic strands of analysis: issues of policy design, and political economy considerations. It considers the choice of timing and sequencing of reforms, the choice of the appropriate policy instruments, the pressure of interest groups and the political calculations involved in reforms. Featuring chapters in which contributors explore both national cases of specific structural reforms, and a comparative approach in order to evaluate similar reforms across countries, this important and topical work explores ongoing issues within the economy. Focusing on the challenges of designing and implementing structural reforms under conditions of crisis, this book will be of interest to policy makers and researchers from national and international organizations as well as academics and members of research institutes interested in the economics and politics of the Eurozone crisis.

This book sheds new light on if and why, between 2009 and 2015, European governments succeeded or failed in initiating and actually realizing some of the farthest-reaching austerity plans in modern history. The author analyzes the economic and political context and the underlying causes of austerity and economic adjustment packages during the Euro crisis. In doing so, he shows that austerity has its roots in an institutional mismatch between capitalist diversity in the Eurozone on the one hand, and an ill-conceived common economic regime on the other. In this context, austerity trumped politics, and even democracy itself. The book will appeal to scholars of political science and comparative political economy, as well as governmental policymakers and practitioners in the finance sector.

The authors uncover the roots of the eurozone crisis, focusing on how this can be solved against the backdrop of a very deep financial and economic crisis and its strong social impact. Looking at the impact of the financial crisis on the eurozone, they explore the European Union's recent and future developments.

In the wake of the euro crisis, the European Union has been transformed in many ways. Is it now on the right track? The euro crisis, the steps taken to manage it, and the resulting transformations have triggered a necessary process of reconsidering economic governance in the European Union. This volume— the third in a series of annual editions tackling different aspects of governance— examines the long list of open political, legal, and economic questions related to the functioning and fundamental structure of the Union as a whole and the economic and monetary union in particular. Organised in three main sections, the contributions to this collection bring the perspectives of different academic disciplines to bear on the functional aspects of economic governance, the institutional transformations that have taken place, and their implications for the Union's legitimacy. A separate chapter looks at inequalities in perceptions of economic conditions and well-being within the European Union to identify trends particularly during the eurozone crisis. In doing so, the chapters in this volume take stock of the current situation, shed light on the dilemmas and challenges that must be recognised and addressed, and explore various options for the way ahead. The collection's ultimate goal is to assess whether the recent transformations lead EU governance in the right direction or require further adjustment.