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A quantum of solace? An assessment of fiscal stimulus packages by EU Member States in response to the economic crisis

A quantum of solace? An assessment of fiscal stimulus packages by EU Member States in response to the economic crisis

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Published by N R Dewi Nurmayani
This ETUI Working Paper analyses the fiscal stimulus packages implemented by EU Member States against the background of the on-going economic crisis. Alongside the overall volume of the packages, the study, which is based on a survey of national experts, considers their content and also the involvement – or lack of it – of the social partners and particularly trade unions.

Overall the packages offer only a ‘quantum of solace’ to Europe. Against this background the widespread self-satisfaction on the part of European and national policymakers about the response to the crisis, and an increasing focus on early exit strategies from fiscal stimulus are inappropriate. European governments, faced with the unprecedented scale of the crisis, have taken action to stimulate their economies. But the crisis has exposed weaknesses in economic governance in Europe that should be addressed as part of the reforms being planned to ensure that such crises are not repeated in future.
This ETUI Working Paper analyses the fiscal stimulus packages implemented by EU Member States against the background of the on-going economic crisis. Alongside the overall volume of the packages, the study, which is based on a survey of national experts, considers their content and also the involvement – or lack of it – of the social partners and particularly trade unions.

Overall the packages offer only a ‘quantum of solace’ to Europe. Against this background the widespread self-satisfaction on the part of European and national policymakers about the response to the crisis, and an increasing focus on early exit strategies from fiscal stimulus are inappropriate. European governments, faced with the unprecedented scale of the crisis, have taken action to stimulate their economies. But the crisis has exposed weaknesses in economic governance in Europe that should be addressed as part of the reforms being planned to ensure that such crises are not repeated in future.

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Published by: N R Dewi Nurmayani on May 06, 2013
Copyright:Attribution Non-commercial

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07/13/2014

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A quantum o solace?An assessment o fscal stimuluspackages by EU Member States inresponse to the economic crisis
Andrew Wattwith the collaboration of Mariya Nikolova
.....................................................................................................................................
Working Paper 2009.05
 
A quantum of solace?An assessment of fiscal stimuluspackages by EU Member States inresponse to the economic crisis
Andrew Wattwith the collaboration o Mariya Nikolova
Working Paper 2009.05european trade union institute
 
Information was kindly provided by the following national experts or institutes:
Austria: Georg Feigl (AK Wien)Belgium: Jo Vervecken (FGTB/ABBV)Bulgaria: Ekaterina Ribarova (ISTUR)Denmark: Martin Madsen (ECLM)Estonia: Harri Taliga (EAKL)Finland: Jaakko Kiander (Labour Institute or Economic Research)France: Hélène Périvier (OFCE)Germany: Achim Truger/Andreas Botsch (IMK/DGB)Greece: Petros Linardos (INE/GSEE)Hungary: Szilvia Borbely (ESRITU)Italy: Vilma Rinolfi (CESOS)Latvia: Ariadna Abeltina (LBAS)Luxembourg: Christophe Knebeler (CGT-L (OGBL/FNCTTFEL) & LCGB)Netherlands: Mariya Nikolova (ETUI)Norway: Øyvind Berge (Fao)Portugal: Ricardo Paes Mamede (Instituto Superior de Ciências do Trabalho e daEmpresa (ISCTE), Lisbon)Spain: Jorge Aragon Medina (Fundacion 1° de Mayo)Sweden: Monika Arvidsson (LO Sweden)UK: Lionel Fulton (LRD)Andrew Watt is senior researcher, and Mariya Nikolova is researcher at the EuropeanTrade Union Institute (ETUI) in Brussels.Brussels, 2009© Publisher: ETUI aisbl, BrusselsAll rights reservedPrint: ETUI Printshop, BrusselsD/2009/10.574/15ISSN 1994-4446 (print version)ISSN 1994-4454 (pd version)The ETUI is financially supported by the European Community. The EuropeanCommunity is not responsible or any use made o the inormation contained in thispublication.

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