Glossary and abbreviations
in The European left and the financial crisis

Glossary and abbreviations

Alter-Europeanism

New left perspective on EU/Eurozone created by crisis

DiEM25

Democracy in Europe Movement 2025

ECB

European Central Bank

EFSF

European Financial Stability Facility

EGP

European Green Party

EMU

Economic and Monetary Union

EP

European Parliament

ESM

European Stability Mechanism

EU

European Union

Eurozone

‘Euro area’ is the monetary union of 19 of 28 EU member states under the monetary authority of the Eurosystem and under political control of Eurogroup

Fiscal Compact

see TSCG

GDP

gross domestic product

Greens-EFA

Greens-European Free Alliance, or G-EFA

GUE-NGL

European United Left-Nordic Green Left

IMF

International Monetary Fund

Lexit

‘Left Exit’ from the EU and/or the Eurozone

MoU

Memorandum of Understanding

OECD

Organisation for Economic Co-operation and Development

PEL

Party of the European Left

PES

Party of European Socialists

S&D

Progressive Alliance of Socialists and Democrats (European Parliament)

troika

An economic oversight committee consisting of representatives of the European Commission, ECB and IMF established to supervise the economic affairs of countries in receipt of emergency ‘bailout’ loans from those institutions and/or other European governments

TSCG

Treaty on Stability, Coordination and Governance, also often referred to as the Fiscal Stability Treaty, European Fiscal Compact or Fiscal Compact

TTIP

Transatlantic Trade and Investment Partnership

WTO

World Trade Organization

Translations into English from original sources have been carried out by the relevant chapter authors.

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Editors: Michael Holmes and Knut Roder
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