A Model Disagreement: The Fall of the Slovak Government during the Eurozone Crisis in 2011

Matus Halas

Europe-Asia Studies, 2018, vol. 70, issue 9, 1472-1495

Abstract: In October 2011, the four ruling coalition parties in Slovakia failed to agree upon updating the European Financial Stability Facility. It was ultimately approved with the help of the opposition in exchange for an early election. This self-destructive behaviour by the ruling coalition remains a puzzle with the only available explanations merely referring to the irrationality of the domestic political elite. Our research tackles this problem using game theory. By focusing on the preferences of the key leaders, this article shows that although the fall of government was the only rational outcome, other factors beyond the scope of rational choice theory can suggest a possible explanation.

Date: 2018
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DOI: 10.1080/09668136.2018.1515347

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