Work Values in Politics: The European Union Debt Crisis as a Case Study

Date01 March 2019
DOI10.1177/0002716219826026
AuthorKyriakos Pierrakakis,Anna Diamantopoulou
Published date01 March 2019
Subject MatterReflections
222 ANNALS, AAPSS, 682, March 2019
DOI: 10.1177/0002716219826026
Work Values in
Politics: The
European
Union Debt
Crisis as a Case
Study
By
ANNA DIAMANTOPOULOU
and
KYRIAKOS PIERRAKAKIS
826026ANN The Annals of The American AcademyWork Values in Politics
research-article2019
The European debt crisis has had significant political
and economic implications throughout the Eurozone,
particularly for its peripheral South. These were espe-
cially obvious for Greece, which had to face elevated
levels of austerity and sign three different bailout pro-
grams within eight years to remain economically sol-
vent and retain its position in the context of European
institutions. Here, we track how the perception of the
work values of Greeks by other member states—such
as Germany, Slovakia or Finland—along with ensuing
public debates adversely affected the bailout program
design and implementation in Greece, and had signifi-
cant political consequences throughout the Eurozone.
Keywords: work attitudes; work values; Greek crisis;
European debt crisis; stereotyping; instru-
mentalizing work values; perceptions
The European sovereign debt crisis has now
been formally concluded, after the success-
ful completion of the third bailout program for
Greece in August 2018, the last country within
the Eurozone to be in such a program. However,
the implications of this crisis, and of its overall
management both at the state level and at the
level of the Eurozone as a whole, have been
significant and are still quite apparent
(Matsaganis and Leventi 2014). Within a dec-
ade, policies, primarily in the fiscal sphere but
also more broadly, changed significantly, espe-
cially as an outcome of conditionality programs
in countries that were under close supervision.
Correspondence: kyriakos.p@dianeosis.org
Anna Diamantopoulou is president of To Diktyo, a net-
work for reform in Greece and Europe. To Diktyo is an
Athens-based independent, nonpartisan, nonprofit
research and policy institute that aims to develop
strong, pragmatic, and innovative policy and advocacy
on all aspects of European integration, Greek domestic
politics, and various international structures.
Diamantopoulou has served as Minister of Education of
Greece and EU Commissioner of Employment and
Social Affairs, among other public appointments.

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