IDEAS home Printed from https://ideas.repec.org/a/bla/jcmkts/v59y2021i6p1536-1554.html
   My bibliography  Save this article

This Time Wasn't Different: Responsiveness and Responsibility in the Eurozone between 2007 and 2019

Author

Listed:
  • Johannes Karremans

Abstract

This article investigates the balance between responsiveness and responsibility in France, Germany and Spain between 2017 and 2019. Based on the party‐politics literature, the article argues that during crises responsibility may temporarily increase, but that subsequently governments need to base their actions on responsive policy criteria in order to maintain citizens' trust. Yet, given the dominance of austerity ideas during this decade and the introduction of a more stringent European fiscal framework, it is questionable whether responsiveness increased after the Eurozone crisis. Analysing original data from the yearly budget speeches of ministers of finance, the article finds that responsibility dominated budgetary policy‐making in the early 2010s and that since 2014 responsiveness has increased, regardless of a country's financial situation. Furthermore, during the crisis responsibility tended to be higher under centre‐right cabinets. The article portrays the early 2010s as an episode of ‘politics in hard times’ during which governments chose their policy response based on their ideas.

Suggested Citation

  • Johannes Karremans, 2021. "This Time Wasn't Different: Responsiveness and Responsibility in the Eurozone between 2007 and 2019," Journal of Common Market Studies, Wiley Blackwell, vol. 59(6), pages 1536-1554, November.
  • Handle: RePEc:bla:jcmkts:v:59:y:2021:i:6:p:1536-1554
    DOI: 10.1111/jcms.13202
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/jcms.13202
    Download Restriction: no

    File URL: https://libkey.io/10.1111/jcms.13202?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Ben Crum, 2013. "Saving the Euro at the Cost of Democracy?," Journal of Common Market Studies, Wiley Blackwell, vol. 51(4), pages 614-630, July.
    2. Dani Rodrik, 2000. "How Far Will International Economic Integration Go?," Journal of Economic Perspectives, American Economic Association, vol. 14(1), pages 177-186, Winter.
    3. Thomas Lehner & Fabio Wasserfallen, 2019. "Political conflict in the reform of the Eurozone," European Union Politics, , vol. 20(1), pages 45-64, March.
    4. Daniel Seikel, 2016. "Flexible Austerity and Supranational Autonomy. The Reformed Excessive Deficit Procedure and the Asymmetry between Liberalization and Social Regulation in the EU," Journal of Common Market Studies, Wiley Blackwell, vol. 54(6), pages 1398-1416, November.
    5. Blyth, Mark, 2013. "Austerity: The History of a Dangerous Idea," OUP Catalogue, Oxford University Press, number 9780199828302.
    6. António Afonso & Pedro Gomes & Philipp Rother, 2006. "What “Hides” Behind Sovereign Debt Ratings?," Working Papers Department of Economics 2006/35, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    7. Fabio Wasserfallen & Dirk Leuffen & Zdenek Kudrna & Hanno Degner, 2019. "Analysing European Union decision-making during the Eurozone crisis with new data," European Union Politics, , vol. 20(1), pages 3-23, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Reto Bürgisser & Donato Di Carlo, 2023. "Blessing or Curse? The Rise of Tourism‐Led Growth in Europe's Southern Periphery," Journal of Common Market Studies, Wiley Blackwell, vol. 61(1), pages 236-258, January.
    2. Jeffry Frieden & Stefanie Walter, 2019. "Analyzing inter-state negotiations in the Eurozone crisis and beyond," European Union Politics, , vol. 20(1), pages 134-151, March.
    3. Anna-Lena Högenauer, 2021. "Scrutiny or Complacency? Banking Union in the Bundestag and the Assemblée Nationale," Politics and Governance, Cogitatio Press, vol. 9(2), pages 219-229.
    4. Magnus Lundgren & Stefanie Bailer & Lisa M Dellmuth & Jonas Tallberg & Silvana Târlea, 2019. "Bargaining success in the reform of the Eurozone," European Union Politics, , vol. 20(1), pages 65-88, March.
    5. Fabio Franchino & Camilla Mariotto, 2021. "Noncompliance risk, asymmetric power and the design of enforcement of the European economic governance," European Union Politics, , vol. 22(4), pages 591-610, December.
    6. Joshua C Fjelstul, 2022. "Explaining public opinion on the enforcement of the Stability and Growth Pact during the European sovereign debt crisis," European Union Politics, , vol. 23(2), pages 192-211, June.
    7. Nicholas Crafts, 2014. "What Does the 1930s' Experience Tell Us about the Future of the Eurozone?," Journal of Common Market Studies, Wiley Blackwell, vol. 52(4), pages 713-727, July.
    8. Daniel Finke & Stefanie Bailer, 2019. "Crisis bargaining in the European Union: Formal rules or market pressure?," European Union Politics, , vol. 20(1), pages 109-133, March.
    9. Silvana Târlea & Stefanie Bailer & Hanno Degner & Lisa M Dellmuth & Dirk Leuffen & Magnus Lundgren & Jonas Tallberg & Fabio Wasserfallen, 2019. "Explaining governmental preferences on Economic and Monetary Union Reform," European Union Politics, , vol. 20(1), pages 24-44, March.
    10. Kristijan Kotarski & Luka Brkic, 2017. "Political Economy of Banking and Debt Crisis in the EU: Rising Financialization and its Ramifications," Review of Radical Political Economics, Union for Radical Political Economics, vol. 49(3), pages 430-455, September.
    11. John Phelan, 2015. "The Road Not Taken: A Comparison Between the Hard ECU and the Euro," Economic Affairs, Wiley Blackwell, vol. 35(3), pages 397-415, October.
    12. Hanno Degner & Dirk Leuffen, 2019. "Franco-German cooperation and the rescuing of the Eurozone," European Union Politics, , vol. 20(1), pages 89-108, March.
    13. Reinout A van der Veer & Markus Haverland, 2018. "Bread and butter or bread and circuses? Politicisation and the European Commission in the European Semester," European Union Politics, , vol. 19(3), pages 524-545, September.
    14. Robert Csehi & Daniel F. Schulz, 2022. "The EU's New Economic Governance Framework and Budgetary Decision‐Making in the Member States: Boon or Bane for Throughput Legitimacy?," Journal of Common Market Studies, Wiley Blackwell, vol. 60(1), pages 118-135, January.
    15. Sebastian Blesse & Annika Havlik & Friedrich Heinemann, 2021. "Euro area reform preferences of Central and Eastern European economic experts," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 48(1), pages 155-179, February.
    16. Paul Copeland, 2019. "Why Brexit Will Do Little to Change the Political Contours of the European Social Dimension," Politics and Governance, Cogitatio Press, vol. 7(3), pages 30-39.
    17. Steininger, Lea & Hesse, Casimir, 2024. "Buying into new ideas: The ECB’s evolving justification of unlimited liquidity," Department of Economics Working Paper Series 357, WU Vienna University of Economics and Business.
    18. Pyle, William, 2006. "Resolutions, recoveries and relationships: The evolution of payment disputes in Central and Eastern Europe," Journal of Comparative Economics, Elsevier, vol. 34(2), pages 317-337, June.
    19. Huy Quang Doan, 2019. "Trade, Institutional Quality and Income: Empirical Evidence for Sub-Saharan Africa," Economies, MDPI, vol. 7(2), pages 1-23, May.
    20. Oya Celasun & Philipp Harms, 2011. "Boon Or Burden? The Effect Of Private Sector Debt On The Risk Of Sovereign Default In Developing Countries," Economic Inquiry, Western Economic Association International, vol. 49(1), pages 70-88, January.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:jcmkts:v:59:y:2021:i:6:p:1536-1554. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0021-9886 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.