Intereconomics

, Volume 48, Issue 1, pp 4–32

Austerity measures in crisis countries — results and impact on mid-term development

  • Vassilis Monastiriotis
  • Niamh Hardiman
  • Aidan Regan
  • Chiara Goretti
  • Lucio Landi
  • J. Ignacio Conde-Ruiz
  • Carmen Marín
  • Ricardo Cabral
Forum

DOI: 10.1007/s10272-013-0441-3

Cite this article as:
Monastiriotis, V., Hardiman, N., Regan, A. et al. Intereconomics (2013) 48: 4. doi:10.1007/s10272-013-0441-3

Abstract

Since the onset of the sovereign debt crisis, the crisis-stricken countries in Europe have been pushed to take drastic steps to consolidate their finances and reduce their budget deficits. Despite strong public opposition and largely damaging short-run effects, the countries have undertaken many of the internationally recommended/mandated reforms and spending cuts. In this Forum, authors from Greece, Ireland, Italy, Spain and Portugal report on the fiscal consolidation achieved in their respective countries — and the sacrifices that have made it possible. Furthermore, the authors detail what remains to be done to resolve the crisis.

Copyright information

© ZBW and Springer-Verlag Berlin Heidelberg 2013

Authors and Affiliations

  • Vassilis Monastiriotis
    • 1
  • Niamh Hardiman
    • 2
  • Aidan Regan
    • 3
  • Chiara Goretti
    • 4
  • Lucio Landi
    • 5
  • J. Ignacio Conde-Ruiz
    • 6
  • Carmen Marín
    • 7
  • Ricardo Cabral
    • 8
  1. 1.European Institute and Hellenic ObservatoryLondon School of EconomicsLondonUK
  2. 2.UCD School of Politics and International RelationsUniversity College DublinDublinIreland
  3. 3.European University InstituteFlorenceItaly
  4. 4.Senate of the RepublicRomeItaly
  5. 5.Senior Advisory BoardMinistry of Economy and FinanceRomeItaly
  6. 6.Complutense University, Madrid, Spain and FEDEAMadridSpain
  7. 7.FEDEAMadridSpain
  8. 8.University of MadeiraFunchalPortugal

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