The Politics of Extreme Austerity

In late 2009, Greece found itself in the global spotlight as the country struggled to remain solvent and in the Eurozone. The Greek debt crisis became the subject of world summits, international news headlines and intense market activity. In the four years that followed, the Greek government impleme [...]
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In late 2009, Greece found itself in the global spotlight as the country struggled to remain solvent and in the Eurozone. The Greek debt crisis became the subject of world summits, international news headlines and intense market activity. In the four years that followed, the Greek government implemented a series of radical austerity measures, while receiving bailouts and loans of unprecedented magnitude. The situation in Greece revealed structural deficiencies in the European integration project and threatened the existence of the Eurozone itself. This volume investigates the framing, policies and politics of extreme austerity during those crucial four years. It also puts the Greek case into a global context by comparing it to the situation in countries that have faced similar challenges, such as Spain, Ireland, Argentina and Turkey. Featuring multidisciplinary contributions from leading social scientists and an exclusive interview with George Papandreou - the former Greek Prime Minister who handled the crisis from 2009 to 2011 - this is the first comprehensive account of the economic crisis at the heart of Europe.