PPT-Austerity in the Eurozone:

Its Not Working Mark Weisbrot Center for Economic and Policy Research wwwceprnet Greece Most important Problem Fiscal policy is procyclical 20102011 Greece adopts measures to cut spending by 87 percent of GDP. This state in turn has conserved its own decisionist privilege by continuing to de siccate the public institutions that have since WW2 in Europe and the US mediated its resource obligations to its ci tizens and denizens The Austerity WDWH57526V cl Gillian Ruch. Nott . CfSWP. . June . 2015. Obstacles . to emotionally informed . practice: Anxiety, risk and austerity. . The Austerity Cycle . Austerity, Anxiety and Emotion . So not just financial austerity but . Workshop. PNHP National Conference 2013. Jacob . Bor. . PhD. Adam Gaffney MD. Austerity, Unaffordability, and Universal Health Care. Change in GDP. Source. : World Bank, http://. data.worldbank.org. Group 2. Wen-Yun . TU, Ho Hsia, Ibrahim. 1. GDP Growth of Eurozone. Double-dip recession. 2015. Q1. Q2. Q3. Q4. Year average. Growth rate. of GDP. 0.4%. 0.4%. 0.5%. 0.5%. 1.4%. 2. How about PMI. ?. 3. . the. Path . of. Austerity: . How. . Policy. . Coalitions. Shape . Welfare-policy. . Choices. in . Periods. . of. . Fiscal. . Consolidation. Klaus Armingeon, U . of. Bern . and. . Collegio. Unnecessary and Self-Inflicted. April 2013. Mark . Weisbrot. Center for Economic and Policy Research. www.cepr.net. Debt crisis or policy crisis?. Conventional wisdom: Eurozone . governments. have borrowed too much, must reduce debt (and therefore annual deficits) in order to get back to a sustainable debt level and restore growth.. Gillian Ruch. Nott . CfSWP. . June . 2015. Obstacles . to emotionally informed . practice: Anxiety, risk and austerity. . The Austerity Cycle . Austerity, Anxiety and Emotion . So not just financial austerity but . The Fundamental . Trilemma. Country can choose only two the three objectives: fixed exchange rate, open financial markets, or monetary independence: . Country can have fixed exchange rate and retain monetary policy. But this would require maintaining controls on financial flows.. Some Observations from Liverpool. Joshua Blamire. Alternative Futures and Popular Protest, Manchester Met.. March 2015. Overview. Background: Austerity in the UK, in Liverpool. Political Context: Anti-Austerity & the British Left. Zdenek Kudrna. University of Salzburg. EMUchoices.eu. Euro’s future: . current status. The . Euro architecture . is incomplete. Currency union also needs economic, banking, fiscal . & political unions. Layna. Mosley. Dept. of Political Science. UNC Chapel Hill. mosley@unc.edu. Cyprus, March 2013. Cyprus joined EU in 2004, and the . eurozone. in 2008. Outline. The making of Economic and Monetary Union (EMU). European Health Systems. PNHP National Conference 2013. Adam Gaffney, . MD. McKee et al. Austerity: a failed experiment on the people of Europe. Clinical Medicine 2012, . Vol. 12, No 4 : 346-50. . Layna. Mosley. Dept. of Political Science. UNC Chapel Hill. mosley@unc.edu. Cyprus, March 2013. Cyprus joined EU in 2004, and the . eurozone. in 2008. Outline. The making of Economic and Monetary Union (EMU). April 2013. Mark . Weisbrot. Center for Economic and Policy Research. www.cepr.net. Debt crisis or policy crisis?. Conventional wisdom: Eurozone . governments. have borrowed too much, must reduce debt (and therefore annual deficits) in order to get back to a sustainable debt level and restore growth..