sovereign debt crisis
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PLoS ONE ◽  
2021 ◽  
Vol 16 (11) ◽  
pp. e0259623
Author(s):  
Cleon Tsimbos ◽  
Georgia Verropoulou ◽  
Dimitra Petropoulou

In this paper we assess the impact of the recent European recession on stillbirth indices over the course of the 2000s and 2010s; the analysis focuses on four Southern European countries (Greece, Italy, Spain, Portugal), which were seriously affected by the sovereign debt crisis from around 2008 to 2017. We use national vital statistics and established economic indicators for the period 2000–2017; stillbirth ratios (stillbirths per 1000 livebirths) are the chosen response variable. For the purpose of the study, we employ correlation analysis and fit regression models. The overall impact of economic indicators on the stillbirth indices is sizeable and statistically robust. We find that a healthy economy is associated with low and declining levels of stillbirth measures. In contrast, economic recession appears to have an adverse effect (Greece, Italy and Spain), or an unclear impact (Portugal), on the stillbirth outcome. This study provides evidence of the adverse effect of the European sovereign debt crisis and ensuing period of austerity on a scarcely explored aspect of health.


2021 ◽  
Author(s):  
◽  
Finnian O’Dwyer-Cunliffe

<p>The destruction of global financial markets and the collapse of the Greek and Irish economies in 2010 caused a ripple effect that spread across the Eurozone and presented the EU with an unprecedented crisis. The level of economic devastation led many to question the integrity of the single currency and the direction of the European project as a whole. This thesis has examined three rounds of debate during the Sovereign Debt Crisis between 2010 and 2014, in order to ascertain the effect of this period on three competing ‘visions’ for the future of Europe. It has found that efforts to reform economic governance in the EU in the wake of the crisis have for the most part led to an entrenchment of the consolidation orthodoxy sponsored by Germany and its allies in northern Europe. However, a political turning point in mid-2012 led to a reprieve for the European Left and the subsequent advancement of the Social European vision advocating greater solidarity in the place of fiscal austerity. While the consolidation coalition’s commitment to economic stability and oversight has for the most part been maintained, the shifting balance of power in European politics, and an increasing frustration with the failures of austerity, have provided momentum for a major revision to the status quo. This thesis has found that while the Eurosceptic rise in the 2014 elections has raised serious questions for the EU, it has highlighted the unwavering commitment towards further integration among the dominant political actors in Europe, and will most likely set the Continent further along the path towards an ever closer union.</p>


2021 ◽  
Author(s):  
◽  
Finnian O’Dwyer-Cunliffe

<p>The destruction of global financial markets and the collapse of the Greek and Irish economies in 2010 caused a ripple effect that spread across the Eurozone and presented the EU with an unprecedented crisis. The level of economic devastation led many to question the integrity of the single currency and the direction of the European project as a whole. This thesis has examined three rounds of debate during the Sovereign Debt Crisis between 2010 and 2014, in order to ascertain the effect of this period on three competing ‘visions’ for the future of Europe. It has found that efforts to reform economic governance in the EU in the wake of the crisis have for the most part led to an entrenchment of the consolidation orthodoxy sponsored by Germany and its allies in northern Europe. However, a political turning point in mid-2012 led to a reprieve for the European Left and the subsequent advancement of the Social European vision advocating greater solidarity in the place of fiscal austerity. While the consolidation coalition’s commitment to economic stability and oversight has for the most part been maintained, the shifting balance of power in European politics, and an increasing frustration with the failures of austerity, have provided momentum for a major revision to the status quo. This thesis has found that while the Eurosceptic rise in the 2014 elections has raised serious questions for the EU, it has highlighted the unwavering commitment towards further integration among the dominant political actors in Europe, and will most likely set the Continent further along the path towards an ever closer union.</p>


2021 ◽  
Vol 9 (1) ◽  
pp. 55-68
Author(s):  
Eleni D. Tseligka

Between 1953 and 1973, emigration depleted the Modern Greek state by roughly one fifth of its total population. A significant number of those migrants relocated to Germany, which since 1960, has been home to a sizeable community of former Gastarbeiter (guest-workers) and their descendants. Following three decades of European Integration and relative prosperity, the 2009 Greek sovereign debt crisis initiated a new wave of Greek emigration, analogous, yet different to that of the post-war era. Germany remains an attractive destination for Greek expatriates, but in contrast to guest-workers from the 1960s, "neo-migrants" are typically skilled or highly-skilled persons who relocate individually. This paper examines the qualitative attributes of Greek expatriates and "neo-migrants" in Germany and compares them to those of former guest-workers; furthermore, this paper compares the narratives of Gastarbeiter to those of European expatriates. Finally, the perceptions of Greek expatriates for the established Greek community in Germany are looked into, as well as the individual and collective efforts of the Greek community and institutions to help and ease their socioeconomic integration. Keywords: Gastarbeiter, neo-migrants, expatriates, Germany, Greece


2021 ◽  
pp. 67-84
Author(s):  
Vivien A. Schmidt

Europe’s (euro) crisis of legitimacy stems from the European Union’s ‘governing by rules and ruling by numbers’ during the sovereign debt crisis. Rules-based governance focused on austerity and structural reform played havoc with the Eurozone economy while fuelling political discontent. Subsequent reinterpretation of the rules ‘by stealth’ may have improved performance, but it did nothing to change the suboptimal rules and only further contributed to EU and national politicization. Although general acknowledgement of increasing flexibility came as of 2015, along with quantitative easing and investment, the damage had been done. Legitimacy remained in question, understood not only with regard to economic performance (output) and political responsiveness (input), but also in terms of the quality of the governance procedures (throughput). The chapter begins by conceptualizing legitimacy, and then explores EU institutional actors’ different pathways to legitimacy, and the ways in which they responded to the Eurozone crisis over time. The chapter concludes with a discussion of how the EU appears to have learned the lessons of the Eurozone crisis during the Covid-19 crisis.


2021 ◽  
Vol 24 (3) ◽  
pp. 385-414
Author(s):  
Seema Wati Narayan ◽  
Sivagowry Srianathakumar ◽  
Greeni Maheshwari ◽  
Mobeen Ur Rehman

We study the case of a home-biased equity trader based in Asia, Central and Eastern Europe, the Middle East and North Africa, or Latin America, who is looking at diversifying his/her investment risks internationally within his/her region and three other emerging/frontier regions. We focus on explaining the dynamic conditional correlations between equity markets from 3 January 2002 to 11 November 2016. Timevarying opportunities for diversification are found in several nations across regions. However, diversification opportunities outside a region are largely reserved for bad times, such as during the global financial crisis and the European sovereign debt crisis.


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