Browsing by Subject "ordoliberalism"

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  • Ojala, Markus Mikael; Harjuniemi, Timo Juhani (2016)
    The German Government has played a leading role in the Eurozone crisis management, largely characterised by a commitment to fiscal austerity and supply-side structural reforms. The legitimation of these measures in the European policy arenas as well as in the public domain has partly rested on an ordoliberal economic policy framing, which has presented the Eurozone crisis as one of public indebtedness and loss of competitiveness. To study the public legitimation of the crisis management, we analyse the press coverage of the crisis in 8 Eurozone member states, with a total of 7986 newspaper articles included in the sample. Focusing on ‘problem definitions’ and ‘treatment recommendations’ as two key elements of issue framing, we find that an ordoliberal framing of the crisis prevails in all the studied countries, while a competing Keynesian policy frame is mostly undermined. Significant variation between the countries emerges, however, on the question of EU federalisation and on the framing of the sovereign bailout loans. We discuss the implications of these findings for the success of the German Government to maintain the austerity orthodoxy across the Eurozone and crowd out economic policy alternatives.