The politics of fiscal consolidation and reform under external constraints in the European periphery: comparative study of Hungary and Latvia

Cepilovs, Aleksandrs; Török, Zoltán

doi:10.1080/14719037.2019.1618384

Cited by 1 publication

(2 citation statements)

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“…In December 2008, EU member Latvia asked the IMF for help (followed by Romania and Ukraine, not covered here) (IMF 2013a). In both countries, foreign exchange debt problems (bank loans in foreign currency for household mortgages, plus foreign-owned private and public debt) formed the core of the debt-default crisis (Cepilovs and Török 2019).…”

Section: Bailouts In 2008mentioning

confidence: 99%

“…The difference between both countries was that all the large banks in Hungary were foreign-owned (with parent banks providing liquidity), whereas Latvia had a large insolvent domestic bank (Parex) to be rescued. Moreover, Hungary devaluated the Forint, whereas Latvia insisted on maintaining the fixed currency peg (Cepilovs and Török 2019).…”

Section: Bailouts In 2008mentioning

confidence: 99%

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Influence of the EU (and the IMF) on domestic cutback management: a nine-country comparative analysis

Kickert

Ongaro

2019

Public Management Review

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The influence of the EU (and the IMF) on domestic cutback management were studied in nine European countries. In this concluding article, a crosscountry comparative analysis is presented. The influence of the EU and the IMF being most evident in bailed-out countries, we first take a closer look at the loan programmes in Greece, Ireland, Portugal, and Spain, plus the hardly-known earlier bailouts in Hungary and Latvia. We then turn to two factors that influence cutbacks and reforms: economics and politics. Finally, the concept of the influence of the EU (and the IMF) is differentiated into degrees and types of influence.

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Section: Bailouts In 2008mentioning

confidence: 99%

Section: Bailouts In 2008mentioning

confidence: 99%