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Europe and the Financial Crisis pp 218–241Cite as

Palgrave Macmillan

Reaching Out in a Time of Crisis: How External Anchors Assist Southeastern Europe

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Abstract

With the economic crisis starting to assert itself in the second half of 2008 in Southeast Europe, the manner in which governments and central banks initially reacted highlighted a mixture of political unpreparedness, at times outright denial and exposed manifest institutional limitations to act quickly and decisively. If the economic crisis in the region could be reduced to one single phenomenon, and it is arguably delicate to do so, it would be this: the fact that nobody in power saw it coming and hardly anybody knew what to do next. Put otherwise, crisis management and crisis resistance capacity were both in short supply when a twin external shock started to manifest itself in mid-2008 in the region.

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Authors
  1. Jens Bastian
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Editor information

Editors and Affiliations

  1. University of Pisa, Italy

    Pompeo Della Posta (Associate Professor in Economic Policy) (Associate Professor in Economic Policy)

  2. King’s College London, UK

    Leila Simona Talani (Associate Professor (Reader) in International Political Economy) (Associate Professor (Reader) in International Political Economy)

Copyright information

© 2011 Jens Bastian

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Bastian, J. (2011). Reaching Out in a Time of Crisis: How External Anchors Assist Southeastern Europe. In: Della Posta, P., Talani, L.S. (eds) Europe and the Financial Crisis. Palgrave Macmillan, London. https://doi.org/10.1057/9780230305007_13

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