Post-democracy and institutionalized austerity in France: budgetary politics during François Hollande’s presidency

Glencross, Andrew

doi:10.1057/s41253-017-0053-6

Cited by 5 publications

(3 citation statements)

References 29 publications

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“…In turn, the lack of internal and ideological cohesiveness were conducive to the historical collapse of the Socialist party in the 2017 presidential elections (Lefebvre 2017). Beyond partisan consequences, our observations are also consistent with the "post-democracy" theoretical framework, which emphasises that political change between centre left and centre-right parties does not lead to different economic policies (Crouch 2004, Streeck & Schäffer 2013, Glencross 2018. These authors also claim that this lack of change weakens voter turn-out, which was observed in the 2017 elections (Braconnier et al 2017).…”

Section: Feedback Loopssupporting

confidence: 87%

Between a Rock and a Hard Place: Preference Formation in France During the Eurozone Crisis

Fontan

Saurugger

2019

Political Studies Review

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This article analyses the causal factors underlying the formation of French preferences during the Eurozone crisis solving process (2008–2017). Going beyond the clear distinction between national preference formation and interstate bargaining of liberal intergovernmentalism, this article combines new intergovernmentalism, political economy and feedback loops to study the horizontal linkages between different actors included in the process of domestic preference formation. Based on the Economic and Monetary Union (EMU) Choices dataset, which includes semi-structured interviews conducted with French policy-makers involved in the European Union negotiations at the highest level, we will concentrate on French preference formation in four negotiations at the European Union level: the 3 May 2010 agreement on bilateral loans to Greece, the initial capitalisation amount of the European Stability Mechanism, the negotiations on the legal nature of the ‘debt-brake’ included in the Treaty on Stability, Coordination and Governance and the reverse qualified majority voting procedure. The article shows that confidential and restricted administrative networks played a central role in reducing the uncertainty stemming from the fragile financial positions of the hypertrophied domestic banking system. At the same time, French negotiators find themselves between a rock and a hard place during negotiations at the European Union level, not crossing the red line fixed by Germany, on the one hand, and ensuring that policy solutions are compatible with governmental political stance and domestic economic interests, on the other hand. Contrary to recent research pointing out to the increasing influence of domestic public opinion on national preference formation, however, feedback loops between the outcome of the crisis solving process and French politics and policies had very little impact.

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Section: Feedback Loopssupporting

confidence: 87%

Between a Rock and a Hard Place: Preference Formation in France During the Eurozone Crisis

Fontan

Saurugger

2019

Political Studies Review

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“…The response to the health crisis has been an opportunity to highlight the strong need for commitment from the various budget actors and decision-makers relative to each other at various levels. First, despite the European involvement and its flexibility, there is a long-term risk of high indebtedness for France, which could push future policies toward greater French budgetary responses to COVID-19 austerity than after the Great Recession (Glencross, 2018;House et al, 2020;Math, 2017) and make France more vulnerable to future pandemics. Second, we observed the rise of participatory budgets in local communities in response to the centralization that characterizes France, which calls for higher involvement and engagement from citizens, and ultimately decentralization.…”

Section: Resultsmentioning

confidence: 99%

“Whatever it takes”: first budgetary responses to the COVID-19 pandemic in France

Cho

Jérôme

Maurice

2020

JPBAFM

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PurposeThis paper highlights the emergency budgetary measures taken by the French government in response to the COVID-19 pandemic health crisis and identifies some of the key political, economic, social and environmental factors and consequences associated with those measures.Design/methodology/approachThe authors conduct a thorough analysis of official reports, bills and academic and news articles related to the pandemic management in France. The authors’ analysis covers the period from January 24 to July 31, 2020.FindingsDespite previous austerity policies, France faced the health crisis with a very high level of debt, which has complicated the management of the COVID-19 crisis. Although significant, the response brought by the French government seems in the end to be rather choppy.Originality/valueThis paper highlights three elements of analysis that allow a better understanding of the budgetary management process in France. The authors first discuss the notion of budgetary flexibility. Then, they show that the growth of participatory budgets in local communities gives hope for a possible and much needed decentralization process implying a stronger commitment of citizens. Finally, they highlight a budgetary paradox; that is, massive funding of polluting industries versus ecological issues. These three elements of analysis all advocate the need for a deeper engagement among different levels of government and actors.

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“…The effects of the sanctioning mechanisms, whether pre or post overhaul, remain unseen as sanctions for the undesired excesses have never been imposed. The corrective arm continues to be politically driven (European Fiscal Board 2019) and avoiding penalties is often linked with factors like the country's negotiating capacities or the so-called 'unexpected adverse economic events' (Glencross 2018). Despite failing to impose sanctions and thus possibly affecting its credibility, the EDP has indirect effects on the MS.…”

Section: Supranational Rules On Public Financesmentioning

confidence: 99%

Steps towards a European Fiscal Union: Has the revised Stability and Growth Pact delivered so far?

Mileusnic¹

2021

JCER

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Since 2008-09, the European Union (EU) experienced two major economic crises revealing all the flaws of the existing model of economic governance. By leaving the majority of the countries with high levels of deficit and public debt, the two crises have shown that the Economic and Monetary Union (EMU) is indeed an unfinished project where the monetary union alone is not sufficient to safeguard the entire EU economy. To strengthen the EMU and to mitigate future risks that could possibly lead to the collapse of the euro-area, many called for a deeper fiscal integration by creating a central fiscal capacity for the EMU or, in other words, a fiscal union. Due to the present political unfeasibility of such an endeavour, however, concrete steps towards a European Fiscal Union (EFU) have been modest and the revised Stability and Growth Pact (SGP) remains its core building block. As the Pact defines supranational and shapes the creation of national fiscal rules, maintaining its credibility continues to be vital. This article analyses the effects of the fiscal rules on the public finances of the member states. It is assumed that by adhering to the supranational and adopting quality domestic fiscal rules, the member states are better equipped in remaining fiscally prudent, thus also affirming the revamped SGP as a solid base for the furthering of the EFU. The two-track evaluation approach defines dynamic panels for the EFU as a whole and for the selected country groups. It finds certain benevolent effects on budgetary performance at the EFU level, as well as for the countries with higher quality of the fiscal rules.

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Post-democracy and institutionalized austerity in France: budgetary politics during François Hollande’s presidency

Cited by 5 publications

References 29 publications

Between a Rock and a Hard Place: Preference Formation in France During the Eurozone Crisis

Between a Rock and a Hard Place: Preference Formation in France During the Eurozone Crisis

“Whatever it takes”: first budgetary responses to the COVID-19 pandemic in France

Steps towards a European Fiscal Union: Has the revised Stability and Growth Pact delivered so far?

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