Mémoire
| Résumé : | The subject of this paper is the impact of austerity policy in Ireland, as enforced by the Troika of the European Commission, the IMF, and the ECB. It will explore whether or not this policy can be considered successful from both an economic point of view, and from a democratic point of view. The former will be assessed through traditional economic indicators such as GDP growth, but also through unemployment figures, emigration/immigration figures, and wage growth. I will also examine whether the reduction of public debt (the avowed aim of austerity) is in and of itself conducive to economic success. The appraisal of austerity measures in the economic sphere will therefore consist of two discrete parts. Firstly, on its own terms (emphasis added), with regard to GDP growth, debt reduction, and the other stated aims of the Troika when implementing austerity measures in Ireland; and, secondly, whether or not these terms are helpful when attempting to quantify success. With regard to the question of democratic success, I will examine the manner in which such measures were imposed. This will include an investigation of the practice of embedding Troika representatives in democratic structures in Ireland, the idea of path-dependency amongst both Troika and Irish officials, and the erosion of trust in the decades-long political dominance of the Fianna Fàil/Fine Gael axis and the subsequent rise of Sinn Féin in the general election of 2020. |
