Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/277266 
Authors: 
Year of Publication: 
2013
Citation: 
[Journal:] European Journal of Economics and Economic Policies: Intervention (EJEEP) [ISSN:] 2052-7772 [Volume:] 10 [Issue:] 2 [Year:] 2013 [Pages:] 158-174
Publisher: 
Edward Elgar Publishing, Cheltenham
Abstract: 
The euro area is currently going through its worst period of recession and economic stagnation since the Great Depression and World War II. The article tries to give an impression of the extraordinary degree of fiscal austerity and the devastating economic effects it has already had and must be expected to have in the near future. In addition it is argued that both the lack of economic justification and the devastating consequences of the fiscal policies currently executed should have been absolutely obvious even from a mainstream perspective. Therefore the sad state of economic policies in the euro area is that it did not even follow moderate mainstream proposals but instead seemed to rely on radical and outdated theoretical or purely ideological foundations. Germany as the most economically and politically influential member state of the euro area seems to be most infected with such radical ideas.
Subjects: 
fiscal policy
Hamburg appeal
austerity
debt brake
fiscal compact
Germany
euro area
JEL: 
E61
E62
E64
E65
H62
H63
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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