Austerity measures in crisis countries — results and impact on mid-term development

Vassilis Monastiriotis (), Niamh Hardiman, Aidan Regan, Chiara Goretti, Lucio Landi, J. Ignacio Conde-Ruiz, Carmen Marín and Ricardo Cabral

Intereconomics: Review of European Economic Policy, 2013, vol. 48, issue 1, 4-32

Abstract: Since the onset of the sovereign debt crisis, the crisis-stricken countries in Europe have been pushed to take drastic steps to consolidate their finances and reduce their budget deficits. Despite strong public opposition and largely damaging short-run effects, the countries have undertaken many of the internationally recommended/mandated reforms and spending cuts. In this Forum, authors from Greece, Ireland, Italy, Spain and Portugal report on the fiscal consolidation achieved in their respective countries — and the sacrifices that have made it possible. Furthermore, the authors detail what remains to be done to resolve the crisis. Copyright ZBW and Springer-Verlag Berlin Heidelberg 2013

Date: 2013
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DOI: 10.1007/s10272-013-0441-3

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