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Life After Austerity: Did Ireland Succeed & Greece Fail? A Modern Money Approach, Madhurima Das

Senior Projects Spring 2016

This project examines the imposition of austerity measures on two periphery countries in the Eurozone – Greece and Ireland – after the global financial crisis that erupted in 2007. Ireland was the first economy to both enter and exit the crisis. Greece is still reeling from it, 9 years later. This project offers a detailed analysis of the policy response and economic conditions in each country, and reveals that Ireland’s success is illusory. Even though Ireland exited the crisis in 2013, their ‘success’ was in part due to the relatively small size of fiscal contraction, the rebuilding of private sector …