The report examines the legal and economic bases of the interventions by the IMF and EU which have forced countries such as Greece to adopt austerity policies, despite the negative impact on economic and social development. It analyses the policy objectives underwriting these policies, and the legal and non-legal powers used to limit the impact of national constitutions and democratic politics, and concludes that tensions between the institutions and democratic processes are likely to continue and grow.
The report was originally presented at the conference “Beyond the Single Market - External and international dimensions of services of general interest in EU law”, Erlangen 18-19 September 2013. Published as Chapter 7 of the book “Services of General Interest Beyond the Single Market: External and International Law Dimensions” ed. Krajewski, M. Asser Press 2015. ISBN 978-94-6265-063-3 http://www.springer.com/us/book/9789462650626