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The Politics of Bad Options – Why the Eurozone's Problems Have Been So Hard to Resolve - Oxford Scholarship Online
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The Politics of Bad Options: Why the Eurozone's Problems Have Been So Hard to Resolve

Stefanie Walter, Ari Ray, and Nils Redeker


Why did the Eurozone crisis prove to be so difficult to resolve? Why was it resolved in a manner in which some countries bore a much larger share of the pain than other countries? Why did no country leave the Eurozone rather than implement unprecedented austerity? Who supported and who opposed the different policy options in the crisis domestically, and how did the distributive struggles among these groups shape crisis politics? Building on macro-level statistical data, original survey data from interest groups, and qualitative comparative case studies, this book argues and shows that the answ ... More

Keywords: euro crisis, Eurozone, adjustment, austerity, bailout, conflict, burden sharing, interest groups, current account, crisis politics, rebalancing, distributive conflict

Bibliographic Information

Print publication date: 2020 Print ISBN-13: 9780198857013
Published to Oxford Scholarship Online: December 2020 DOI:10.1093/oso/9780198857013.001.0001


Affiliations are at time of print publication.

Stefanie Walter, author
Full Professor for International Relations and Political Economy, University of Zurich

Ari Ray, author
Max Weber Fellow, European University Institute

Nils Redeker, author
Policy Fellow for European Economic Policy, Jacque Delors Centre, Hertie School