Abstract
The last decade Greece has experienced a multidimensional crisis and its consequences are still evident. Several scholars have already analyzed the effects of the crisis and have provided useful outcomes, assessing its causes, policies and consequences. This study emphasizes on some factors that have not been thoroughly analyzed. Therefore, aspects of the impact of ordoliberal directions on the formulation of the debt crisis management policies in Greece as well as the social and economic implications are studied. The main objective is to examine the role of ordoliberalism at policy making and the economic and social implications through the brief analysis of quantitative (secondary) and qualitative (primary) data in order to produce empirically grounded policy proposals in order to effectively advance the goals set for Social Europe through the convergence of the European periphery.
Highlights
Ordoliberalism is a fundamental concept on which the German political system is based and its roots can be traced back to the first decades of the 20th century
These directions posed pressures to the peripheral countries and Greece, as well as the other heavily indebted countries of the European periphery, was forced to implement, through the fiscal adjustment memoranda, a specific ordoliberal strategy pursued by Germany, which were largely technocratic in nature, with many questions to be addressed towards their democratic legitimacy
If we focus on ordoliberalism as the only reason for the implementation of austerity policies during the crisis, the analysis will largely suffer from significant shortcomings as the important particular national factors which have contributed in this direction will not have been considered
Summary
A Brief Analysis of the Ordoliberal Impact on the Debt Crisis in Greece Stylianos Ioannis Tzagkarakis. The last decade Greece has experienced a multidimensional crisis and its consequences are still evident. Several scholars have already analyzed the effects of the crisis and have provided useful outcomes, assessing its causes, policies and consequences. Aspects of the impact of ordoliberal directions on the formulation of the debt crisis management policies in Greece as well as the social and economic implications are studied. The main objective is to examine the role of ordoliberalism at policy making and the economic and social implications through the brief analysis of quantitative (secondary) and qualitative (primary) data in order to produce empirically grounded policy proposals in order to effectively advance the goals set for Social Europe through the convergence of the European periphery
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