Social dimension of austerity measures: Cases of four EU countries in receipt of financial assistance

10-12-2013

In the aftermath of the financial and economic crisis, Member States that requested financial assistance have sought to reduce deficits through a series of austerity measures. However research suggests that these spending cuts and tax increases may be associated with economic contraction, rising unemployment, growing inequalities and other negative social consequences. A comprehensive impact assessment of austerity measures is needed.

In the aftermath of the financial and economic crisis, Member States that requested financial assistance have sought to reduce deficits through a series of austerity measures. However research suggests that these spending cuts and tax increases may be associated with economic contraction, rising unemployment, growing inequalities and other negative social consequences. A comprehensive impact assessment of austerity measures is needed.