Jože Mencinger bibliography

New divisions in Europe

Gospodarska gibanja 470


The crisis altered the positions of the EU member states, deepened the division between rich "North" and poor "South" and somewhat blurred the traditional division to developed "Old" and developing "New" member states. The deterioration in investments was the crucial trigger for the deepening and prolongation of the crisis, while exports mitigated the crash. European authorities, culprits for the creation of the crisis can also be blamed for its deepening and its prolongation. Obsessed by budget deficits they overlooked the effects of austerity measures on aggregate demand and on the functioning of macroeconomic mechanism.

Key words: economic development, Europe, macroeconomic policy

JEL: O11, O52, E63

Full article is available in Slovenian language.

Only a part of the articles in the publication Gospodarska gibanja (Economic Trends) is written in the English language. Please visit the Slovenian web page.


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