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Austerity in the European periphery: the Irish experience

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Author(s)
Hardiman, Niamh 
Blavoukos, Spyros 
Dellepiane, Sebastian 
Pagoulatos, George 
Uri
http://hdl.handle.net/10197/7648
Date Issued
28 January 2016
Date Available
27T08:34:42Z May 2016
Abstract
Ireland has come to be seen as an exemplary case of the successful practice of austerity, both economically and politically. But these inferences would be misleading. The real story about fiscal adjustments in Ireland is more problematic, the reasons for recovery are more complex, and the political consequences are a good deal more nuanced. This paper sets the Irish experience alongside that of the other Eurozone periphery countries. It argues that these countries' recovery prospects depend on the EU economic policy framework, but that Ireland’s connections to non-Eurozone economies also shape its growth prospects. Political stability is problematic in all the periphery countries, with the rise of challenger parties articulating values and priorities that may be difficult to accommodate within the current European policy regime. This is connected to a wider problem of the decay of older political identities and loyalties and the emergence of a new legitimation gap for EU member states.
Type of Material
Working Paper
Publisher
University College Dublin. Geary Institute
Start Page
1
End Page
24
Series
UCD Geary Institute For Public Policy Discussion Paper Series
WP2016/04
Keywords
  • Austerity

  • Ireland

  • Eurozone

  • EU economic policy

  • Fiscal adjustment

  • Periphery

  • Recovery

  • Political stability

Web versions
http://www.ucd.ie/geary/static/publications/workingpapers/gearywp201604.pdf
Language
English
Status of Item
Not peer reviewed
This item is made available under a Creative Commons License
https://creativecommons.org/licenses/by-nc-nd/3.0/ie/
Owning collection
Geary Institute Working Papers
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