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terrorist attacks of 2015; the longer-term impact of economic crisis and the failure to bring down unemployment. All of these factors recall the weak political, partisan and sociological basis of Hollande's support from the outset. To understand Hollande's predicament we need thereby to mix levels of analysis: to capture the structural, partisan and political bases of his persistent presidential weakness. Hollande's original sin Hollande's original sin lay in the manner of his election in 2012. His 2012 presidential campaign was fought in large part as an
differences in productivity that still remained, unemployment in the new Länder soared after reunification, and, though it has declined from its highest levels, has remained generally much higher than unemployment in West Germany. 6 Post-reunification investment in utilities and public services has been high in East Germany (for example: the telephone network required replacing and expanding; the roads system and the railways were in generally poor condition; housing required considerable renovation and improvement). Private sector investment, however, has not matched
.e. having attained credibility), the government has an incentive to cheat and renege on its commitment to the specified rate of inflation in order to achieve a lower rate of unemployment. In the long run, such policy changes are ineffective if the long-run Phillips curve is vertical at the natural rate of unemployment. 9 Furthermore, after episodes of reneging on commitments
Reduces inflation Makes exports cheaper Makes exports more expensive Increases inflation Interest rates Increase Decrease Makes borrowing money more expensive so reduces amount of money in the economy and so reduces inflation Makes it cheaper for businesses to borrow and thus improves investment Makes survival for some companies harder, resulting in bankruptcies and unemployment Can cause inflation Taxation Increase Decrease More revenue into Treasury; antiinflationary; selective use can discourage undesirable spending (e.g. smoking) Pleases
Wolfgang Münchau. 1 The Irish economist Ray Kinsella simply found it indefensible that, within an economic epoch characterised by intellectual capital and innovation, youth unemployment in the EU should now stand at an average of 25 per cent – and more than double this in some of the peripheral countries which are most in need of the intellectual capital and capabilities of young and often highly skilled Europeans. 2 That was in May 2013. By September, it was revealed that youth unemployment in Greece had risen to around 70 per cent with the economy having sunk by one
changes in the fiscal system and an unwillingness to cut deep into public expenditure in spite of favourable economic circumstances in 2017–18). If Macron benefited initially from the global upturn in the world economy and the efforts of his predecessor Hollande to restore the public finances, there remain questions about how to fund some of his campaign promises, such as the abolition of local taxes for most of the population, the introduction of a massive investment programme, the reintroduction of a form of national service and making unemployment benefit available
historic landslide. Free education and free health care were the major additions and very quickly became part of the nation’s life. Further measures like sick and unemployment pay added to a raft of support measures from the state, which almost amounted to ‘cradle to grave’ provision. It is fair now to say that the British have become used to such assistance and are closely attached to the National Health Service, so much so that any party seeking to dismantle it would lose support – even the suggestion that the Conservatives might do so became an electoral liability in
perhaps a lifetime of unemployment unless economic conditions dramatically changed. But the project of preserving the euro had taken on a transcendent quality of its own. Southern European political elites shrank from embracing bold remedies for the economic crisis. Most were seen as involving an abandonment of the euro or else a temporary suspension for some members, or a breaking up of the currency union into several workable parts. Parties on the right and left which had alternated in office since the restoration of democracy at different stages after 1945 had too
treaties first on economic and monetary union, then on political fusion, the long, difficult process of integration began. More than two decades have passed since the breaching of the Berlin Wall, yet such integration is still some way from complete. Indeed, in some respects the gap between eastern and western Germany has grown larger. Two rather distinct systems of party competition seem to have developed, for instance (see Chapters 4 and 5 ). Unemployment and lack of new investment in the ‘new Länder’ remain at levels which are way behind those in the rest of the
since the 1980s that weakens the influence of organised workers (Howell, 2005 ; Streeck, 2011 ) as Chapter 3 will outline. Increasing market forces are playing a prominent role in shaping the balance of power in employment relationships, e.g. the strategic use by management of unemployment and forms of flexibility at work. Other salient factors affecting the balance of power may be micro-oriented, say in relation to specific employee skills demanded by an employer, such as certain technological job competencies. However, while there are incidences of particular