Austerity is not the solution!

Book

Edited by FEPS with the financial support of the European Parliament, this book provides contributions from various academic and political leaders engaged in the debate about the framework of the future of economic policy in Europe. They all share the view that austerity measures, only magnified under the “fiscal compact” cannot be the right answer to alleviate the crisis that we have now been experiencing for several years.

The authors tend to share the view that a proper recovery plan will need a new macroeconomic framework, through wage, fiscal and public policies, complementary to a much stronger and strengthened financial regulation. A wage standard integrating both the need for social redistribution and tackling trade imbalances should be considered, as well as new sources of financing, such as financial transaction taxes, Eurobonds, or the increase of the EIB capital and the EU budget.

Scientific Coordination by Matthieu Méaulle, FEPS Senior Research Fellow. Contributions from Gustav A. Horn, Director, Sergio Rossi, Paolo Guerrieri, Rémi Bazillier, Paul Sweeny, Emiliano Brancaccio, Andrew Watt, James Galbraith, Pierre Defraigne, Daniel Cohen, Udo Bullmann, Stephany Griffith-Jones, Lars Andersen, Diego Lopez Garrido, Toralf Pusch, Ulf Meyer-Rix, Maria Joao Rodrigues, Ernst Stetter, Matthieu Méaulle