How the beliefs of European leaders changed throughout the Eurozone crisis

Description

he management of the Eurozone crisis reflected the beliefs held by Europe’s political leaders. Drawing on a new study, Marij Swinkels assesses how these beliefs shifted throughout the crisis. Spanish, Italian and French leaders moved away from their Keynesian core beliefs and adopted a more ‘ordoliberal’ orientation as the crisis progressed, while Dutch, UK, and Irish leaders held more ordoliberal beliefs in earlier stages of the crisis and later shifted toward Keynesian approaches.