Trust and Crisis Management in the European Union An Institutionalis
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
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Dóra Győrffy
Trust and Crisis Management in the European Union
Dóra Győrffy
Trust and Crisis Management in the European Union An Institutionalist Account of Success and Failure in Program Countries
Dóra Győrffy Péter Pázmány Catholic University Corvinus University of Budapest Budapest, Hungary
ISBN 978-3-319-69211-1 ISBN 978-3-319-69212-8 (eBook) https://doi.org/10.1007/978-3-319-69212-8 Library of Congress Control Number: 2017962776 © The Editor(s) (if applicable) and The Author(s) 2018 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Cover illustration: H. Mark Weidman Photography / Alamy Stock Photo Printed on acid-free paper This Palgrave Macmillan imprint is published by Springer Nature The registered company is Springer International Publishing AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
Preface
The book emerged from my earlier research on trust and economic policy as well as my impressions about contemporary Hungarian political and economic developments. As I was observing the impact of the financial crisis on Hungary, I became keenly aware of the importance of institutions and trust in choosing a path to deal with the financial crisis. Examining how other European countries managed the crisis served both as a distraction from focusing on Hungarian developments as well as tests about my ideas concerning the factors that determine the political and economic outcomes of crisis management. The research started with an article on trust and the emergence of austerity cycles—“The role of expectations in austerity cycles: the political economy of crisis management in Ireland and Greece,” which was published in Acta Oeconomica in 2014. In a significantly revised form, the article appears in this book. I am grateful for the permission of the publisher as well as the comments from the reviewe
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