“There is no Alternative†for Southern European National Parties: Analysing Programmatic Convergence on Economic and Monetary Policy Issues in Euroelection Manifestos

Drawing on a framework combining Europeanization with a critical political economy approach, this research aims to assess if the Eurozone crisis induced an ideological and programmatic convergence of national parties in four Southern European member states: Greece, Italy, Portugal and Spain. Based on the quantitative analysis of parties’ ideological classification and of Euroelection Manifestos’ content from 1999 to 2019, the research hypothesizes that the Economic and Monetary Union (EMU) political economy and, particularly, the Eurozone crisis effects on Southern Europe created a “no alternative†policy for national governments, thus impelling parties to ideologically and programmatically converge with the supranational preferences for the EMU’s future. Conclusions indicate that the Eurozone crisis triggered a consensual turn to the left of national party systems, and a convergence on demands for Keynesian policies within the EMU. This reveals a contradiction between the political aspirations of national parties and their representative role, and their executive political commitments during the austerity-led governmental approach in the crisis.