The Greek Debt Crisis and Southern Europe: Majoritarian Pitfalls?

Iosif Kovras, Neophytos Loizides

    Research output: Contribution to journalArticlepeer-review

    10 Citations (Scopus)

    Abstract

    Although widely debated in broader socioeconomic terms, the Eurozone crisis has not received adequate scholarly attention with regards to the impact of alternative political systems. This article revisits the debate on majoritarian and consensus democracies drawing on recent evidence from the Eurozone debacle. Greece is particularly interesting both with regards to its potential ‘global spillover effects’ and choice of political system. Despite facing comparable challenges as Portugal and Spain, the country has become polarized socially and politically, seeing a record number of MP defections, electoral volatility and the rise of the militant extreme right. The article explains why Greece, the country that relied most extensively on majoritarian institutions, entered the global financial crisis in the most vulnerable position while subsequently faced insurmountable political and institutional obstacles in its management. The article points to the paradox of majoritarianism: in times of economic stress, the first ‘casualties’ are its strongest elements – centrist parties (bi-partisanship) and cabinet stability.
    Original languageEnglish
    JournalComparative Politics
    Volume47
    Issue number1
    DOIs
    Publication statusPublished - Oct 2014

    Keywords

    • Comparative Politics
    • Debt Crisis
    • Greece
    • Spain

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