ABSTRACT
A central theme of contemporary social policy debates is the ongoing Eurozone crisis as exemplified by its impact on the countries of Southern Europe, and in particular Greece, to the extent that they have commonly become regarded as ‘periphery’ Eurozone member states. The Treaty on European Union imposed a new dimension of EU control over nations’ economic independence that contrasts with the development of a European social model. This chapter provides a brief overview of the impact of the Great Recession on the southern periphery before summarizing the response of the EU and its member states during the economic crisis in terms of their introduction of coordinated and Keynesian rescue/stimulus packages. Subsequently it comparatively examines the adoption of austerity measures that consolidated the neoliberal nature and trajectory of the EU and accelerated the transformation of Europe’s social models towards the market liberal form. This was magnified by the medium-term plans devised by the EU in the wake of the economic crisis to expand its power over member states’ economic policymaking.
