Our new SPERI Paper, by Robbie Pye and Owen Parker, published today shows that the response to the Eurozone crisis has seen the empowerment of executive political actors and the hardening of a neoliberal macroeconomic strategy within the EU. The response is premised on achieving competitiveness by constraining the wages and conditions of workers and carries a severe social cost. As a result there has been an undermining of the legitimacy of the European project which the governance structures of the Eurozone, in their current form, are unable to address.
The authors argue that the EU is capable of taking immediate steps to redress this social crisis by incorporating rights mechanisms based on the EU’s Charter of Fundamental Rights into the governance of the Eurozone and by looking outside the EU to the European Committee of Social Rights for appropriate standards on social rights. These steps build on developments already present in the EU, but have hitherto been side-lined in the response to the Eurozone crisis, and are thus achievable in the short term.
Download SPERI Paper No. 26: The Unfulfilled Promise of Social Rights in Crisis EU.
The Broker: Social rights and rebalancing the Eurozone.