IDEAS home Printed from https://ideas.repec.org/a/pfq/journl/v58y2013i2p119-132.html
   My bibliography  Save this article

Crisis Management in the EU, Prospects for the De-politicisation of Economic Policy

Author

Listed:
  • Dóra Gyõrffy

    () (Pázmány Péter Catholic University)

Abstract

The central question of the study is whether the reforms of European economic governance will resolve the problems which led to the current financial crisis. First, the responses to the crisis will be examined and then the paper will consider those proposals, which have been rejected so far as resolution for the crisis. By analysing the accepted and rejected measures, we can observe the strengthening of supranational technocratic decision-making at the cost of democracy at the national level. The limitations of such arrangements are illustrated by the experiences of Greek crisis management. The main conclusion of the study is that although economic arguments are very strong in favour of the creation of a fiscal union, a political economy perspective reveals that the success of such a union is strongly dependent on internal commitment to financial responsibility and external pressure cannot be a substitute for it.

Suggested Citation

  • Dóra Gyõrffy, 2013. "Crisis Management in the EU, Prospects for the De-politicisation of Economic Policy," Public Finance Quarterly, State Audit Office of Hungary, vol. 58(2), pages 119-132.
  • Handle: RePEc:pfq:journl:v:58:y:2013:i:2:p:119-132
    as

    Download full text from publisher

    File URL: http://www.asz.hu/public-finance-quarterly-articles/2013/crisis-management-in-the-eu-prospects-for-the-de-politicisation-of-economic-policy/a-119-132-gyorffyd-2013-2.pdf
    Download Restriction: no

    References listed on IDEAS

    as
    1. Benczes, István, 2011. "Az európai gazdasági kormányzás előtt álló kihívások. A hármas tagadás lehetetlensége
      [Challenges of European economic governance. The impossible trinity of denial]
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(9), pages 759-774.
    2. Neményi, Judit & Oblath, Gábor, 2012. "Az euró bevezetésének újragondolása
      [Rethinking Hungary s prospective adoption of the Euro]
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(6), pages 569-684.
    3. Alcidi, Cinzia & Giovannini, Alessandro & Gros, Daniel, 2012. "‘Grexit’: Who would pay for it?," CEPS Papers 6977, Centre for European Policy Studies.
    4. Kevin Featherstone, 2011. "The JCMS Annual Lecture: The Greek Sovereign Debt Crisis and EMU: A Failing State in a Skewed Regime," Journal of Common Market Studies, Wiley Blackwell, vol. 49(2), pages 193-217, March.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    European economic governance; crisis management; Greece; democracy;

    JEL classification:

    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
    • P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
    • Z18 - Other Special Topics - - Cultural Economics - - - Public Policy

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pfq:journl:v:58:y:2013:i:2:p:119-132. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Pal Peter Kolozsi). General contact details of provider: https://www.asz.hu .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.