Crisis in the Eurozone Periphery, 1st ed. 2018 The Political Economies of Greece, Spain, Ireland and Portugal Building a Sustainable Political Economy: SPERI Research & Policy Series

This book investigates the causes and consequences of crisis in four countries of the Eurozone periphery ? Greece, Spain, Portugal and Ireland. The contributions to this volume are provided from country-specific experts, and are organised into two themed subsections: the first analyses the economic dynamics at play in relation to each state, whilst the second considers their respective political situations. The work debates what made these states particularly susceptible to crisis, the response to the crisis and its resultant effects, as well as the manifestation of resistance to austerity. In doing so, Parker and Tsarouhas consider the implications of continued fragilities in the Eurozone both for these countries and for European integration more generally.

Chapter 1. Causes and Consequences of Crisis in the Eurozone Periphery (Owen Parker and Dimitris Tsarouhas)

Growing asymmetries between core and periphery

The Euro

Austerity

Continued deadlock?

Chapter 2. Tracing Ireland’s ‘Liberal’ Crisis and Recovery (Seán Ó Riain)

From passive liberalism to state activism within liberal globalisation

Aggressive liberalism and the crisis

Ireland’s persistent dilemmas

Chapter 3. The Spanish Economic ‘Miracle’ that Never was (Luis Buendía)

The political economy of the ‘Spanish miracle’

An extensive pattern of growth

The role of Spain in the European division of labour

The public sector

Who owns what?

The ‘miracle’ was a mirage

Chapter 4. Portugal’s Economic Crisis: Overheating without Accelerating (Neil Dooley)

Revolution and structural reform – Portugal 1974–1990s

 Structural reform and ‘debt-led’ growth: Portugal 1990–2000

Economic Stagnation and crisis – Portugal in the 2000s

Chapter 5. Greece and European Monetary Union: The Road to the Demise of the Greek Economy (Pavlos Gkasis)

Greece’s Integration with the EU

Greece in EMU: The Build-up to the Greek Crisis

Response to the crisis

Chapter 6. Narrating Crisis in Ireland’s Great Recession (Nicholas Kiersey)

Austerity begins

A risen people?

Chapter 7. The Unfolding of Spain's Political Crisis: From the Squares to the Ballot Box (Mònica Clua-Losada)

The historical context

Spain’s political crisis and regime resilience

Chapter 8. Portuguese Democracy under Austerity: Politics in Exceptional Times (Isabel David)

A young democracy – the Portuguese political system

Enter the crisis – neoliberal politics and ideological hegemony

From dissent to new political configurations

Chapter 9. Continuity and Change in Greek Politics in an Age of Austerity (Alexandra Prodromidou)

Greek politics post-1974

Chapter 10. Conclusion (Owen Parker and Dimitris Tsarouhas)

Politics – fragmentation, breakdown, reform

Owen Parker is Senior Lecturer in the Department of Politics and Associate Fellow of the Sheffield Political Economy Research Institute (SPERI), both at the University of Sheffield, UK. He has written widely on International Relations and European politics, is co-author of the prominent textbook Politics in the European Union, and has previously worked for the European Commission.

Dimitris Tsarouhas is Associate Professor in the Department of International Relations at Bilkent University, Turkey and a Scientific Council Member of the Foundation for European Progressive Studies (FEPS) in Brussels. A former Jean Monnet Chair in European Politics,Tsarouhas has published extensively on European politics, public policy, and Greek-Turkish relations.

Addresses the underlying causes and effects of the Eurozone crisis in four of the states most impacted

Draws on a team of country experts to assess the causes and consequences of crisis

Explores the wider implications of the crisis with respect to the longevity of the Eurozone in terms of its major institutional features

Locates these in the broader context of international political economy