Original scientific paper

Austerity and Growth in Europe: Germany’s Impossible Mission

Vassilis K. Fouskas ; Royal Docks School of Business and Law, University of East London
Shampa Roy-Mukherjee ; Royal Docks School of Business and Law, University of East London

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.

Keywords

Austerity; Debt; Growth; Eurozone; Germany

Hrčak ID:

177254

URI

https://hrcak.srce.hr/177254

Publication date:

13.3.2017.

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