the euro crisis. It presents new econometric estimates on the link between cumulative GDP growth and fiscal austerity … closely related to the harshness of fiscal austerity. Cumulative multiplier estimates are found to vary in a range from 1.4 to …, a reasonable approximation of the size of the output losses due to fiscal austerity in the euro area during 2011-2013 is …

This paper dwells on the Eurozone woes and addresses the origins of the transition from a fictitious boom to a painful … the future of the Eurozone that will halt the tearing of the social fabric of its member states. …

elaborate a link between rising sovereign risk premia in the Eurozone and a major feature of the financial crisis - which … effects of fiscal austerity for the evolution of sovereign risk spreads are demonstrated by means of panel regressions and …

show that European parties and leaders can put forward an alternative economic policy to austerity and that European fiscal …

Drawing on an analysis of austerity reforms in Greece and Portugal during the sovereign debt crisis from 2009 onwards … clientelistic linkages, austerity reforms have been characterised by recurring conflicts and disagreements between the main parties … clientelistic strategies, austerity reforms have been more consensual because fiscal retrenchment challenged to a lesser extent the …

austerity policy also appears to have had a negative impact on productivity, neutralizing the beneficial effects of structural … reforms. Contrary to widespread opinion, the lack of structural reforms was not the key reason for the austerity policy …, mild austerity measures, and if possible, budget reallocation in favor of investment. …

consolidation and explains why austerity is so fiercely advocated by both core and periphery governments. The main reasons for the … governments, in cooperation with the European Commission, the ECB and the IMF, based on further austerity and wage cuts aggravate …