EconPapers    
Economics at your fingertips  
 

Austerity in the European periphery: the Irish experience

Niamh Hardiman, Spyros Blavoukos, Sebastian Dellepiane-Avellaneda and George Pagoulatos
Additional contact information
Spyros Blavoukos: Athens University of Economics and Business, Athens
Sebastian Dellepiane-Avellaneda: School of Government and Public Policy, University of Strathclyde, Glasgow
George Pagoulatos: Athens University of Economics and Business, Athens

No 201604, Working Papers from Geary Institute, University College Dublin

Abstract: Ireland has come to be seen as an exemplary case of the successful practice of austerity, both economically and politically. But these inferences would be misleading. The real story about fiscal adjustments in Ireland is more problematic, the reasons for recovery are more complex, and the political consequences are a good deal more nuanced. This paper sets the Irish experience alongside that of the other Eurozone periphery countries. It argues that these countries’ recovery prospects depend on the EU economic policy framework, but that Ireland’s connections to non-Eurozone economies also shape its growth prospects. Political stability is problematic in all the periphery countries, with the rise of challenger parties articulating values and priorities that may be difficult to accommodate within the current European policy regime. This is connected to a wider problem of the decay of older political identities and loyalties and the emergence of a new legitimation gap for EU member states.

Keywords: Austerity; fiscal adjustment; Ireland; Eurozone; periphery; recovery; EU economic policy; political stability. (search for similar items in EconPapers)
JEL-codes: F15 F21 F55 F68 N14 O52 O57 P16 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2016-01-28
New Economics Papers: this item is included in nep-eec
References: Add references at CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://www.ucd.ie/geary/static/publications/workingpapers/gearywp201604.pdf First version, 2016 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ucd:wpaper:201604

Access Statistics for this paper

More papers in Working Papers from Geary Institute, University College Dublin Contact information at EDIRC.
Bibliographic data for series maintained by Geary Tech (gearytech@ucd.ie).

 
Page updated 2025-01-27
Handle: RePEc:ucd:wpaper:201604