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Trust and Crisis Management in the European Union

An Institutionalist Account of Success and Failure in Program Countries

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  • © 2018

Overview

Authors:
  1. Dóra Győrffy

    1. Péter Pázmány Catholic University Corvinus University of Budapest, Budapest, Hungary

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  • Provides a single theoretical approach rather than a collection of chapters;

  • Focuses on EU crisis management both in the Eurozone and outside in a strictly comparative manner;

  • Goes beyond economic explanations and provides a novel theory for success and failure

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Table of contents (8 chapters)

  1. Front Matter

    Pages i-xiii
    Download chapter PDF

  2. Understanding Success and Failure in Financial Crisis Management

    • Dóra Győrffy
    Pages 1-24

  3. A Bird’s-Eye View of Crisis Management in the Euro-Zone

    • Dóra Győrffy
    Pages 25-49

  4. Trust and Crisis Management

    • Dóra Győrffy
    Pages 51-77

  5. Institutional Capacities and Crisis Management in Greece and Ireland

    • Dóra Győrffy
    Pages 79-111

  6. The Collapse and Reform of the Mediterranean Social Model in Cyprus, Portugal, and Spain

    • Dóra Győrffy
    Pages 113-146

  7. Crisis Management Outside the Euro-Zone: The Cases of Hungary, Latvia, and Romania

    • Dóra Győrffy
    Pages 147-190

  8. The Politics of Crisis Management: The Role of Limited Government

    • Dóra Győrffy
    Pages 191-211

  9. The Future of Europe: Bridging the Gap Between Moral Hazard and Solidarity

    • Dóra Győrffy
    Pages 213-233

  10. Back Matter

    Pages 235-244
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Keywords

About this book

This book addresses and explains the divergent economic and political outcomes of the financial crisis in the eight European Union member states which needed a bailout program: Cyprus, Greece, Hungary, Ireland, Latvia, Portugal, Romania and Spain. Looking at crisis management as a series of relationships where cooperation is essential, this book focuses on the essential role of trust during the process. It argues that the presence or absence of trust during the negotiation and implementation of the bailout program leads to self-reinforcing cycles of success and failure. The analysis of these eight countries also explores the institutional sources of trust – it shows that a commitment to limited government is associated with both economic success and resistance to populism. The final chapter considers the implications for the future of the EU and calls attention to the importance of strengthening domestic institutions in order to bridge the gap between concerns over moral hazard and expectations of solidarity.

Reviews

“This volume represents a timely and courageous attempt at disentangling a maze of economic, social and political factors that shaped the recent stabilization programs undertaken in eight crisis-hit EU member countries. The author navigates beyond the boundaries of political economy by highlighting the role of trust and institutions and the ensuing populist backlash.” (George Kopits, Member, Public Finance Council, Portugal, and Visiting Professor, Central European University, Hungary)

Authors and Affiliations

  • Péter Pázmány Catholic University Corvinus University of Budapest, Budapest, Hungary

    Dóra Győrffy

About the author

Dóra Győrffy is Professor of international political economy at the Péter Pázmány Catholic University and the Corvinus University of Budapest, Hungary. She holds a BA in Government from Harvard University, an MA and PhD in International Relations from Central European University and a Doctor of Science degree in Economics from the Hungarian Academy of Sciences.


Győrffy’s publications address fiscal consolidation and reforms, European monetary integration and financial crises. Her articles have appeared in English and Hungarian including in Acta Oeconomica, Hungarian Economic Review, Europe-Asia Studies, Post-Communist Economies, Society and Economy, and Zeitschrift für Staats-und Europawissenschaften. She is author of two books: Democracy and Deficits: The New Political Economy of Fiscal Management Reforms (2007) and Institutional Trust and Economic Policy: Lessons from the History of the Euro (2013). 

Bibliographic Information

  • Book Title: Trust and Crisis Management in the European Union

  • Book Subtitle: An Institutionalist Account of Success and Failure in Program Countries

  • Authors: Dóra Győrffy

  • DOI: https://doi.org/10.1007/978-3-319-69212-8

  • Publisher: Palgrave Macmillan Cham

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: The Editor(s) (if applicable) and The Author(s) 2018

  • Hardcover ISBN: 978-3-319-69211-1Published: 23 January 2018

  • Softcover ISBN: 978-3-319-88733-3Published: 06 June 2019

  • eBook ISBN: 978-3-319-69212-8Published: 03 January 2018

  • Edition Number: 1

  • Number of Pages: XIII, 244

  • Number of Illustrations: 1 b/w illustrations, 34 illustrations in colour

  • Topics: International Economics, Economic Policy, International Political Economy, European Union Politics

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