Crisis in the Eurozone: Austerity and Economic Transformation

Davide Gualerzi

Review of Radical Political Economics, 2017, vol. 49, issue 3, 394-409

Abstract: The paper presents an interpretation of austerity that sheds light on the crisis in the Eurozone. It argues that austerity is a long-term policy rather than an ill-conceived short-term remedy. To go beyond the by now familiar criticisms of austerity, we need to examine the crisis in its totality. Especially important are the impediments to a strong recovery driven by market incentives. This might ultimately undermine the very existence of the common currency and the future of the European Union. JEL Classification: E2, O4, B5.

Keywords: Eurozone; crisis; austerity; industrial transformation; advanced industrial economies; trade imbalances (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:49:y:2017:i:3:p:394-409

DOI: 10.1177/0486613417703970

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