Austerity and its alternatives in the European parliament: from the Eurozone crisis to the COVID-19 crisis

Abstract

AbstractThis article examines the role of the European parliament (EP) in providing ideational alternatives to austerity in the context of the Eurozone crisis and the COVID-19 crisis. Despite the EP’s limited formal role in EU economic governance, it is a key site for democratic debate and contestation. Analyzing EP debates about austerity allows us to understand the possibilities and limitations for ideational change at the EU level from the perspective of supranational party politics. Through a longitudinal analysis (2012–2021) of EP resolutions on the European Commission’s Annual Growth Surveys, the article asks how ideational battles around austerity have unfolded between the EP’s political groups and what factors have shaped the EP’s positions. Theoretically, the article draws on the literature on ideational political economy and discoursive institutionalism. The article argues that instead of providing alternatives, the EP and its Committee on Economic and Monetary Affairs have contributed to the ideational hold of austerity due to the weakness of the alternatives of the center-left and their compatibility with austerity. Party-political and institutional factors, such as broad left/right compromises and a strict division of labor between the EP’s committees, further constrain ideational change.