 EU facing the crisis: social and employment policies in times of tight budgetsHans-Jürgen Bieling
Transfer: European Review of Labour and Research, 2012, vol. 18, issue 3, 255-271 Abstract: Over the past years the centre of the economic crisis has repeatedly shifted. Starting as a subprime crisis in the US, it soon unfolded as a global economic and financial crisis in order then to become a sovereign debt crisis, euro crisis and, eventually, also a social and democratic crisis. Against the background of the general political and economic conditions within the EU, this article traces the shifts of the political terrain. It focuses above all on the transition from a rather costly crisis management (bank rescues, economic stimulus programmes and automatic stabilizers) towards a new agenda of austerity policies. Structurally, this agenda can be seen as the reaction to significant increases in public debt. In addition, it has been promoted politically and institutionalized through successive European economic governance reforms. These reforms have also had a serious impact on domestic social and employment policies. In some countries dependent on external credits this is already evident, while in other countries the deregulatory aspects of the radicalized reform agenda have only just started to unfold. Keywords: Financial crisis; euro crisis; austerity policy; economic governance; social policy; employment policy (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:sae:treure:v:18:y:2012:i:3:p:255-271 Access Statistics for this article More articles in Transfer: European Review of Labour and Research |
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