Depleted European Social Models Following the Crisis: Towards a Brighter Future?

Abstract

In this concluding chapter the key findings of the volume are summarized and an outlook on the prospective development of the social dimension in the Eurozone are given. As the various country case studies in this book have shown, the EU has been unprecedentedly involved in national welfare state affairs, particularly in those countries that had to seek official financial assistance from the European Union (EU) and International Monetary Fund (IMF) as well as in the wider Eurozone. Nevertheless, the contributors to this book pointed to important differences in the level of intrusiveness depending on country context or policy area. Regarding welfare societies in European more widely following the Great Recession, it can be concluded that all have become less secure and more unequal. Looking at pensions, economic stabilization has been reached for the time being, but adequacy remains a challenge. Regarding unemployment benefits and labour market policies we find that these have become characterised by less generosity and more flexibility. In the context of a still fragile economic recovery and a rejection of the prescribed austerity measures by many electorates in the crisis countries, the European Commission now emphasises more upfront that social fairness considerations have to be taken into account when implementing measures that aim at stabilizing the European economies. Important debates have been initiated recently as to how not only to make the Eurozone more crisis-resilient but also to strengthen the political union and the social dimension.