The implementation of the austerity measures in the Eurozone debt crisis: The light at the end of the tunnel or a step towards the abyss?
Primena mera štednje u dužničkoj krizi zemalja Evrozone - svetlo na kraju tunela ili korak ka provaliji?
Abstract
In this article, the author indicates the reasons why the austerity measures have failed to resolve the problems of public debt increase and recessions in the Eurozone periphery countries. The main cause for inefficiency of these measures should seek in incorrect diagnosis of the root of the current financial crisis in Euro area. More precisely, above mentioned cause should search in incomprehension of the austerity policy creators that the crisis is a product of cumulative consequences of constraints and weaknesses of the European Monetary Union (EMU), rather than irresponsible and wasteful behavior of the public sector of some EMU member states.
U ovom radu autor ukazuje na razloge zašto mere štednje nisu uspele da reše pitanje rasta javnog duga i recesije u zemljama periferije Evrozone. Glavni uzrok za neefikasnost ovih mera treba tražiti u pogrešnoj dijagnozi korena trenutne finansijske krize na evro prostoru. Preciznije rečeno, pomenuti uzrok treba tražiti u nerazumevanju tvoraca politike štednje da je kriza proizvod kumulativnih posledica ograničenja i slabosti Evropske monetarne unije (EMU), a ne neodgovornog i bahatog ponašanje javnog sektora njenih pojedinih država članica.
Keywords:
debt crisis / austerity measures / European Union / Eurozone / European Central Bank / economic growth / international economic inequality / dužnička kriza / mere štednje / Evropska unija / Evrozona / Evropska centralna banka / privredni rast / međunarodna ekonomska nejednakostSource:
Međunarodna politika, 2015, 66, 1157, 19-36Publisher:
- Institut za međunarodnu politiku i privredu, Beograd
Funding / projects:
Collections
Institution/Community
FPNTY - JOUR AU - Dragičević, Ognjen PY - 2015 UR - http://rfpn.fpn.bg.ac.rs/handle/123456789/505 AB - In this article, the author indicates the reasons why the austerity measures have failed to resolve the problems of public debt increase and recessions in the Eurozone periphery countries. The main cause for inefficiency of these measures should seek in incorrect diagnosis of the root of the current financial crisis in Euro area. More precisely, above mentioned cause should search in incomprehension of the austerity policy creators that the crisis is a product of cumulative consequences of constraints and weaknesses of the European Monetary Union (EMU), rather than irresponsible and wasteful behavior of the public sector of some EMU member states. AB - U ovom radu autor ukazuje na razloge zašto mere štednje nisu uspele da reše pitanje rasta javnog duga i recesije u zemljama periferije Evrozone. Glavni uzrok za neefikasnost ovih mera treba tražiti u pogrešnoj dijagnozi korena trenutne finansijske krize na evro prostoru. Preciznije rečeno, pomenuti uzrok treba tražiti u nerazumevanju tvoraca politike štednje da je kriza proizvod kumulativnih posledica ograničenja i slabosti Evropske monetarne unije (EMU), a ne neodgovornog i bahatog ponašanje javnog sektora njenih pojedinih država članica. PB - Institut za međunarodnu politiku i privredu, Beograd T2 - Međunarodna politika T1 - The implementation of the austerity measures in the Eurozone debt crisis: The light at the end of the tunnel or a step towards the abyss? T1 - Primena mera štednje u dužničkoj krizi zemalja Evrozone - svetlo na kraju tunela ili korak ka provaliji? EP - 36 IS - 1157 SP - 19 VL - 66 UR - https://hdl.handle.net/21.15107/rcub_rfpn_505 ER -
@article{ author = "Dragičević, Ognjen", year = "2015", abstract = "In this article, the author indicates the reasons why the austerity measures have failed to resolve the problems of public debt increase and recessions in the Eurozone periphery countries. The main cause for inefficiency of these measures should seek in incorrect diagnosis of the root of the current financial crisis in Euro area. More precisely, above mentioned cause should search in incomprehension of the austerity policy creators that the crisis is a product of cumulative consequences of constraints and weaknesses of the European Monetary Union (EMU), rather than irresponsible and wasteful behavior of the public sector of some EMU member states., U ovom radu autor ukazuje na razloge zašto mere štednje nisu uspele da reše pitanje rasta javnog duga i recesije u zemljama periferije Evrozone. Glavni uzrok za neefikasnost ovih mera treba tražiti u pogrešnoj dijagnozi korena trenutne finansijske krize na evro prostoru. Preciznije rečeno, pomenuti uzrok treba tražiti u nerazumevanju tvoraca politike štednje da je kriza proizvod kumulativnih posledica ograničenja i slabosti Evropske monetarne unije (EMU), a ne neodgovornog i bahatog ponašanje javnog sektora njenih pojedinih država članica.", publisher = "Institut za međunarodnu politiku i privredu, Beograd", journal = "Međunarodna politika", title = "The implementation of the austerity measures in the Eurozone debt crisis: The light at the end of the tunnel or a step towards the abyss?, Primena mera štednje u dužničkoj krizi zemalja Evrozone - svetlo na kraju tunela ili korak ka provaliji?", pages = "36-19", number = "1157", volume = "66", url = "https://hdl.handle.net/21.15107/rcub_rfpn_505" }
Dragičević, O.. (2015). The implementation of the austerity measures in the Eurozone debt crisis: The light at the end of the tunnel or a step towards the abyss?. in Međunarodna politika Institut za međunarodnu politiku i privredu, Beograd., 66(1157), 19-36. https://hdl.handle.net/21.15107/rcub_rfpn_505
Dragičević O. The implementation of the austerity measures in the Eurozone debt crisis: The light at the end of the tunnel or a step towards the abyss?. in Međunarodna politika. 2015;66(1157):19-36. https://hdl.handle.net/21.15107/rcub_rfpn_505 .
Dragičević, Ognjen, "The implementation of the austerity measures in the Eurozone debt crisis: The light at the end of the tunnel or a step towards the abyss?" in Međunarodna politika, 66, no. 1157 (2015):19-36, https://hdl.handle.net/21.15107/rcub_rfpn_505 .