Following ECB-president Draghi's remark that the European Social Model does no longer exist and the crisis can only be overcome through a combination of austerity and structural reform, this paper examines the consequences of austerity measures and structural reforms adopted during the crisis in...

This paper should be understood as a modest contribution to an emerging debate about the conclusions from the crisis and the future of the European Social Model. Inspired by the writings of Karl Polanyi, the first section of the paper discusses the nature and some of the main characteristics of...