Suchergebnisse

During the global financial crisis in 2008–10 Estonia symbolized a pathway of fiscal consolidation and austerity. Moreover, despite opting for austerity and all the social and political consequences of achieving fiscal consolidation, the governing coalition in Estonia succeeded also in avoiding a negative political reaction from the voters and remained in power. The current article analyses the variables that made the austerity reforms in Estonia in 2008–11 electorally successful. The economic success of Estonia has otherwise been attributed to a combination of political, institutional, and economic factors: timing; a fiscal policy that was not pro-cyclical; the availability of reserves in Estonia; and the ownership structure of the banks. The present study asks more specifically about the variables that saw the economic success in the implementation of the austerity measures accompanied by a positive electoral outcome. As it will be argued, these factors include the communication strategy chosen intentionally or otherwise by the government, the design of the austerity measures, the peculiarity of the electoral cycle, lack of political alternatives, and the performance of neighbouring countries in implementing austerity measures.

During the latest global financial crisis, austerity as a concept has been described as the best possible and inevitable solution to achieve fiscal consolidation in Europe and in the euro zone. But even considering austerity as an economically rational measure, the politicians of most EU member states' have introduced the austerity measures only to a limited extent or have chosen less stressful and politically less risky strategies. Estonian politicians, having earlier shock therapy experience from the years of re-independence, were among few European governments, who decided to adopt austerity measures with its economic and social consequences. Against all theoretical and rhetorical expectations they remained in power. The aim of the article is to analyze why austerity has not triggered negative political reaction of citizens, as expected in theoretical models as well feared by politicians, and was it caused by specific socio-cultural factors or well-planned strategy of government

The problems with national airlines in small peripheral member states indicate that the effects of strict competition policy and state aid rules of the European Union (EU) may not be equally useful for all member states and their citizens. Measures that are considered efficient from the perspective of one EU member state may not necessarily improve the welfare at the EU level and vice versa. While common competition policy rules are often justified by referring to the core values of European integration and the Single Market, the values themselves prioritize different aspects of the ideals of free market, European solidarity, and institutional stability. Curiously, as a result, the EU practical regulations are often imposing significant costs on a local peripheral consumer while even unable of meeting the proclaimed European values. By using the case study of the Estonian national flag carrier Estonian Air the current study focuses on the question whether the EU state aid regulation is simultaneously rational and sufficiently flexible to take into account the joint values of the European single market and specific needs of peripheral member states.

The European financial crisis in recent years (2008–2012) and economic challenges in long-term perspective, have initiated intensive debates among politicians, academic circles and media. The intensity of the debate has been related to the amplitude of the crisis and to the possible interests, influence and costs of the social stakeholders. The aim of this research is to analyze the interests of crisis management and policy actions from the perspective of social stakeholders (political actors, economic actors, voters and supranational institutions such as European Central Bank). Process tracking and narrative analysis will be used as methodological approaches. The research will first focus on the challenges and dilemmas of the European financial crisis and interests of social stakeholders. The second part of the research will analyze how the social stakeholders managed to influence the policy decisions related to the Eurozone crisis management, which measures were taken and why supranational institutions have been most successful in decision making process.