Financial Crisis Management and Democracy : : Lessons from Europe and Latin America.

• Author: De Souza Guilherme, Bettina.
• TeilnehmendeR: Ghymers, Christian.; Griffith-Jones, Stephany.; Ribeiro Hoffmann, Andrea.
• Place / Publishing House: Cham : : Springer International Publishing AG,, 2020.; ©2021.
• Year of Publication: 2020
• Edition: 1st ed.
• Language: English
• Physical Description: 1 online resource (372 pages)

Table of Contents

Financial Crisis Management and Democracy -- Financial Crisis Management and Democracy -- Acknowledgements -- Contents -- Chapter 1: Introduction -- References -- Part I: Global Economic Crisis -- Chapter 2: The Road from Prosperity into the Crisis: The Long Cycle of Post-War Economic, Social and Political Development -- Introduction and Overview -- Framework Conditions and Economic Performance of Western Capitalism During the 1960s and 1970s -- Systemic Changes in Global Capitalism Since the 1970s and Their Impact -- Macroeconomic Effects of Bull Markets and Bear Markets -- How Bull and Bear Markets Are Brought About -- A General Framework: Real Capitalism and Finance Capitalism -- Employment Under Real-Capitalist and Finance-Capitalist Conditions -- Public Finances Under Real-Capitalist and Finance-Capitalist Conditions -- Production of Economic Theories and Long-Term Economic Development -- The "Long Cycle" as Sequence of Real-Capitalist and Finance-Capitalist Regimes -- The European Model and the US Model Under Real-Capitalist and Finance-Capitalist Conditions -- References -- Chapter 3: The Systemic Nature of the Global Crisis and Some Principles for Tackling It -- A Holistic View, A Concerning Diagnostic -- How to Explain the Absence of a Coherent Reaction to the Present Unsustainability of the World Economy? -- Some Paths Towards a Solution -- References -- Part II: Regional Governance and Crisis Management in Europe and Latin America -- Chapter 4: The Double Democratic Deficit -- Introduction -- EMU Crisis Management -- "Bailing Out of the Banks": Yet Another Moral Hazard -- The EERP: EMU's Only Countercyclical Fiscal Stimulus Programme - A Short-Lived Experienced -- Breaking the Sovereign Banking Nexus: Banking Union -- Monetary Policy -- The Sovereign Debt Crisis: Assessing Causes.

Consequences of "Governing by Rules" and "Ruling by Numbers" (Schmidt 2015) -- Going Back in Time: A Failure of Design? -- Democratic Legitimacy and Accountability -- Conclusions -- Bibliography -- Chapter 5: European Union's Democratic Legitimacy after the MoUs: The Political Legacy of an Economic Crisis -- Introduction -- EU's Legitimacy Before the Crisis -- EU's Legitimacy After the Crisis -- EU's Input Legitimacy and the Crisis -- The Impact of the Crisis and EU's Output Legitimacy -- Conclusions -- References -- Chapter 6: Finance Capitalism and Democracy: The Case of the Financial Transactions Tax -- Introduction -- After the Financial Crisis: Pros and Cons of an FTT and the Fight for Public Opinion -- The Proposal of the European Commission and the Attempts to Implement the Tax -- The Successful Counter-attack of the Financial Lobby Since 2013 -- References -- Chapter 7: Regional Governance and Macroeconomic Crisis Management in Latin America -- Introduction -- Regional Governance and Economic Crisis Management in Latin America by Regional Organizations -- Other Multilateral Mechanisms to Manage Economic Crisis in Latin America -- Concluding Remarks -- Literature -- Part III: Impact of the Crisis in Europe and Latin America: National Level -- Chapter 8: Managing the Crisis in Greece: The Missing Link between External Conditionality and Domestic Political Economy -- Introduction -- The Domestic Politico-Economic System -- External Conditionality: An Overview of the Policy and Institutional Aspects of the Adjustment Programs -- Assessing the Compatibility of the External Constraint and Domestic Institutions -- Conclusions -- References -- Chapter 9: The Crisis: Its Management and Impact on Equity and Democracy in Portugal and Possible Consequences for the EU -- Introduction -- The Context: Portugal Before the Crash-Not All Well, Even Then.

The Response and Role of the European Union -- The Absence of Populism in Portugal? -- Future Challenges -- Conclusions -- References -- Chapter 10: The 2011 Crisis in Italy: A Story of Deep-Rooted (and Still Unresolved) Economic and Political Weaknesses -- When Did the Crisis Start? International Triggers and National Ingrained Causes -- Deep-Rooted National Weaknesses -- International Context -- The Policy Responses: Austerity and Reforms -- The Economic and Political Legacy -- What Have We Learned or What We Should Have Learned? -- Appendix: Table with Economic Indicators -- References -- Chapter 11: Latin American Economic Crises and Populist Bids: Argentina, Brazil and Mexico -- Introduction -- From Over-Indebtedness to Economic Collapse: Latin American Saga -- Liberalization Policies Cum Financial Crises in the 1980s and 1990s -- Mexico -- Argentina -- Brazil -- Policy Responses to the 2008 Crisis -- Policy Changes -- Conclusion -- References -- Chapter 12: The Fall of a Giant: Greed, Corruption and Abuse of Power Undermining Democracy in Brazil -- Introduction -- Pendular Democracy: The Democracy Paradox from 2013 Demonstrations to the Election of Bolsonaro -- 2013 Demonstrations -- Dilma's Impeachment -- Temer's Government and the Neoliberal U-Turn -- Federal Intervention in Rio de Janeiro and the Comeback of the Military -- The Election of Bolsonaro -- Lula's Imprisonment and the Assassination of Marielle: Rule of Law Under Threat -- Conclusions: Challenges Ahead -- References -- Chapter 13: Venezuela in Crisis: Governability, Equity and Democracy -- Introduction -- The Context: What Type of Crisis in Venezuela? -- The Economic Crisis -- The Social Crisis -- The Political Crisis -- The Response of the International Community -- The Reasons for Failure-And (Limited) Options for Action -- Conclusions -- References.

Part IV: Impact of the Crisis in Europe and Latin America: Regional Level -- Chapter 14: The Rise of Right-Wing Populism in Europe: A Psychoanalytical Contribution -- Introduction -- It's the Economy, Stupid: The Role of Economic Factors in the Rise of Support for Right-Wing Populism -- They Steal Our Jobs, Rape Our Women, and Refuse to Integrate: The Role of Migration in the Rise of Support for Right-Wing Populism -- They Do Not Represent Us: The Role of Traditional Political Parties in the Rise of Support for Right-Wing Populism -- The Nation as a Privileged Object of Identification: The Role of Affects in the Rise of Support for Right-Wing Populism -- Concluding Remarks -- References -- Chapter 15: European Economic Governance and Rising Sovereignism -- Introduction -- Populism: The Mother of All European Sovereignist Parties -- European Economic Governance and Citizens' Welfare -- Sovereignism and the Economy -- Conclusion -- References -- Chapter 16: Eurozone Crisis Management and the Growth of Opposition to European Integration -- Introduction -- The Crisis and Public Support for the EU and the Euro -- The EU's Image -- Trust in the EU -- Support for the Single Currency -- The Crisis and Public Support for the EU and the Euro: Implications for European Integration -- The Rise of Eurosceptic Parties in the Southern Periphery -- The Marginality of Party Euroscepticism in the Pre-Crisis Southern Periphery -- Eurosceptic Breakthroughs -- Eurosceptic Impact -- Conclusions: Crisis, Euroscepticism and the Future of European Integration -- References -- Chapter 17: A "Pink Tide" Then a "Turn to the Right": Populisms and Extremism in Latin America in the Twenty-First Century -- Introduction -- Populism, Democracy and Neoliberalism in Latin America: A Brief History -- The Contradictory Cases of Mass Protests in Bolivia and Chile.

Understanding Right-Wing Extremism Through the Access and Exercise of Political Power -- The Politics of Social Antagonism in Brazil -- Conclusion -- References -- Chapter 18: The Crisis of Latin American Regionalism and Way Ahead -- Introduction -- Mercosur: From Open Regionalism to Post-Liberal Regionalism and Back? -- UNASUR: A Process in Deep Crisis -- ALBA: When Domestic, Regional and Global Factors Matter -- Pacific Alliance: The Way Ahead? -- Concluding Remarks: Rising From the Ashes? South American Regionalism After the Crisis -- References -- Part V: Conclusions -- Chapter 19: Comparing the Crises in Europe and Latin America: Causes, Management, Impact and Consequences -- Introduction -- Financial Crises in Global Historical Context: Exploring the Common Systemic Causes of the Current Situation -- Regional and Country-Based Causes and Management of the Crisis -- Impact and Consequences of the Crisis at the Domestic and Regional Levels: Challenges to Equity, Democracy and Regionalism -- Final Remarks -- Part VI: Reform Proposals -- Chapter 20: Financial Instability, Climate Change and the "Digital Colonization" of Europe: Some Unconventional Proposals -- Key Challenges for Overcoming the Present Crisis -- Promotion of Activities in the Real Economy Through Restricting "Finance Alchemy" -- Foundation of the European Monetary Fund -- Transition from Continuous Trading to Electronic Auctions -- General Financial Transactions Tax -- Towards a Supranational Monetary System -- Improving the Environment as (Transitory) "Growth Engine" -- Fixing the Long-Term Price Path of Crude Oil, Coal and Natural Gas in the EU -- Thermic Renovation of the Stock of Buildings in the EU -- Trans-European Network of High-Speed Railways -- Overcoming Europe's "Digital Colonization" -- References.

Chapter 21: Promoting Investment in the European Union, Evaluating the Juncker Plan.