This timely and important volume addresses the serious challenges faced by democracy in contemporary society. With contributions from some of the world's most prestigious scholars of public choice and political science, this comprehensive collection presents a complete overview of the threats...

1. Public sector shock in Europe : between structural reforms and quantitative adjustment / Daniel Vaughan-Whitehead -- 2. Public sector adjustment and the threat to gender equality / Jill Rubery -- 3. Early application of fiscal austerity measures in the Baltic states / Jaan Masso and Kerly...

Introduction -- Key players -- Budgeting -- Onlending arrangements -- Foreign exchange and interest rate risks -- Funds flow arrangements -- Accounting and reporting --Auditing arrangements -- Summary of risks and issues, and proposed mitigating actions and improvements