The Impact of the Greek Indignados on Greek Politics

2016 ◽  
Vol 40 (2) ◽  
pp. 125-157 ◽  
Author(s):  
Paris Aslanidis ◽  
Nikos Marantzidis

The burden of this paper is to assert the significance of the 2011 movement of the Greek indignados for Greek politics during the Great Recession. Acknowledging the systematically feeble analysis of the nexus between non-institutional and electoral politics in social movement literature, the authors analyze the emergence, development, and heritage of the Greek indignados, focusing squarely on their impact on public opinion and the domestic party system, both at the level of interparty, as well as intraparty dynamics. The authors’ conclusions are drawn mainly from an analysis of political party discourse, public opinion data, and interviews conducted on the field, catering equally for the supply and demand side of the novel political claims that surfaced during the first years of the Greek sovereign debt crisis. The authors point to the crucial contribution of the movement’s discourse in facilitating voter defection from the traditional two-party system that ruled Greece for more than thirty years, and argue that the indignados functioned as a beacon of populist discursive tropes, which cemented the emergence of a new divide in Greek society between pro- and anti-bailout citizens. Conclusively, the authors take the position that the imprint of the indignados on the Greek psyche has had tremendous repercussions in consolidating a new party system, by undermining traditional political forces and legitimizing new, anti-establishment contenders.

2017 ◽  
Vol 28 (1) ◽  
pp. 77-90 ◽  
Author(s):  
João Carlos Lopes ◽  
João Ferreira do Amaral

The great recession of 2008/2009 had a huge impact on unemployment and public finances in most advanced countries, and these impacts were magnified in the southern Euro area by the sovereign debt crisis of 2010/2011. The fiscal consolidation imposed by the European Union on highly indebted countries was based on the assumptions of so-called expansionary austerity. However, the reality so far provides proof to the contrary, and the results outlined in this article support the opposing view of a self-defeating austerity. Based on a model of the input–output relations of the productive system, an unemployment rate/budget balance trade-off equation is derived, as well as the impact of a strong fiscal consolidation based on social transfers and the notion of a neutral budget balance. An application to the Portuguese case confirms the huge costs of a strong fiscal consolidation, both in terms of unemployment and social policy regress. The conclusion is that too much consolidation in anyone year makes consolidation more difficult in the following year.


2017 ◽  
Vol 62 (05) ◽  
pp. 1137-1164 ◽  
Author(s):  
PAMI DUA ◽  
DIVYA TUTEJA

This paper analyzes the impact of the Eurozone debt crisis on China and India. Using Markov-switching analysis, we discern regimes in economic growth as well as financial markets and study the impact of the global financial crisis and Eurozone crisis on the same. We identify vulnerability and robustness factors governing the degree of exposure and resilience to the crisis for both these economies. In view of strong trade and financial linkages, the Eurozone crisis may have marred prospects of recovery in the aftermath of the recent Great Recession in both China and India. China, however, is found to be more resilient to the crisis possibly due to stronger macroeconomic fundamentals.


Politics ◽  
2018 ◽  
Vol 38 (3) ◽  
pp. 344-360 ◽  
Author(s):  
Margarita Gómez-Reino Cachafeiro ◽  
Carolina Plaza-Colodro

As the introduction to this special issue highlights, the Great Recession, along with the more recent phenomenon such as the refugees’ crisis and the Brexit referendum, has contributed to the success and strengthening of populist Eurosceptic parties across European party systems. The loss of legitimacy of governments and European institutions has opened a window of opportunity for parties expressing anti-establishment positions and populist orientations and criticizing the political-economic arrangements prevailing in Europe. Our study focuses on the rise of a specific left-wing populist Euroscepticism linked with the impact of the Great Recession and austerity measures in Portugal and Spain and the party system transformations. Thus, economic issues, bailouts, and, above all, anti-austerity measures were the main driving forces behind the transformations of Iberian party systems. The increase in populist reactions in both countries after the economic crisis and the implementation of austerity had to do with the transformation of the radical left emphasizing distributive issues in Eurosceptic populist directions. Finally, the analysis shows the distinctiveness of the populist Euroscepticism of the new challenger, Podemos, which illustrates the opportunities afforded with the economic crisis for the rise of new challenger parties exhibiting the contemporary link between populism and Euroscepticism in the radical left.


2013 ◽  
Vol 12 (2) ◽  
pp. 3255-3260
Author(s):  
Stelian Stancu ◽  
Alexandra Maria Constantin

Instilment, on a European level, of a state incompatible with the state of stability on a macroeconomic level and in the financial-banking system lead to continuous growth of vulnerability of European economies, situated at the verge of an outburst of sovereign debt crises. In this context, the current papers main objective is to produce a study regarding the vulnerability of European economies faced with potential outburst of sovereign debt crisis, which implies quantitative analysis of the impact of sovereign debt on the sensitivity of the European Unions economies. The paper also entails the following specific objectives: completing an introduction in the current European economic context, conceptualization of the notion of “sovereign debt crisis, presenting the methodology and obtained empirical results, as well as exposition of the conclusions.


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