The sensitive swings of the European pendulum: Ordoliberal and Neo-Keynesian competitive theories of European integration

Dimitris Skalkos ()
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Dimitris Skalkos: Department of Economics, University of Peloponnese, School of Management and Economics, Tripolis Campus, 22100, Greece

Bulgarian Economic Papers from Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria // Center for Economic Theories and Policies at Sofia University St Kliment Ohridski

Abstract: Òhe continuing problematic management of the 2010 European economic crisis is the cause and the result of the two contrasting philosophies within the European Union regarding its institutional architecture. The first approach highlights key assumptions about the tradition of German Ordoliberalism, such as the emphasis on respect for rules, on fiscal accountability, on financial solvency and on economic austerity policies. The second approach combines Neo-Keynesian theories, with common features such as flexible and adaptive rules, solidarity, and credit expansion policies. The paper approaches the European Union's crisis of the crisis management in the light of these two competitive philosophies.

Keywords: crisis management; EU economic governance; fiscal policy; ordoliberalism (search for similar items in EconPapers)
JEL-codes: E61 F15 P16 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2018-05, Revised 2018-05
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Persistent link: https://EconPapers.repec.org/RePEc:sko:wpaper:bep-2018-06

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