Austerity and Growth in Europe: Germany’s Impossible Mission

Article


Fouskas, V. and Roy-Mukherjee, S. 2017. Austerity and Growth in Europe: Germany’s Impossible Mission. Croatian Political Science Review. 53 (4), pp. 7-29.
AuthorsFouskas, V. and Roy-Mukherjee, S.
Abstract

This article provides a critique of neo-liberal, supply-side austerity policies as they unfold asymmetrically in the EU/Euro-zone and beyond. The main argument advanced is that, contrary to claims by the European Commission and Germany’s elite, growth and austerity are incompatible policy magnitudes. The Euro-zone constitutes the worst form of Gold Standard from which countries cannot escape and advance the imperative of domestic growth as external devaluation and import-substitution are no-options. The article shows neo-liberal austerity is currently being implemented via authoritarian forms of governance from above while cultivating racist and xenophobic movements from below.

KeywordsAusterity; Debt; Growth; Eurozone; Germany
JournalCroatian Political Science Review
Journal citation53 (4), pp. 7-29
ISSN0032-3241
1846-8721
Year2017
PublisherFaculty of Political Science, HR-10000 Zagreb, Lepušićeva 6
Publisher's version
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Anyone
Web address (URL)http://hrcak.srce.hr/177254
Publication dates
Print13 Mar 2017
Publication process dates
Deposited17 Mar 2017
Accepted25 Feb 2017
Copyright information© 2017 The authors.
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