Austerity in the European periphery: the Irish experience

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Title: Austerity in the European periphery: the Irish experience
Authors: Hardiman, Niamh
Blavoukos, Spyros
Dellepiane, Sebastian
Pagoulatos, George
Permanent link: http://hdl.handle.net/10197/7648
Date: 28-Jan-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/Report no.: UCD Geary Institute For Public Policy Discussion Paper Series; WP2016/04
Keywords: AusterityIrelandEurozoneEU economic policyFiscal adjustmentPeripheryRecoveryPolitical stability
Other versions: http://www.ucd.ie/geary/static/publications/workingpapers/gearywp201604.pdf
Language: en
Status of Item: Not peer reviewed
Appears in Collections:Geary Institute Working Papers
Politics and International Relations Research Collection

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