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Sustainability, accountability and democracy: Ireland’s Troika experience

Barrett, Sean, Corbet, Shaen orcid logoORCID: 0000-0001-7430-7417 and Larkin, Charles orcid logoORCID: 0000-0002-0352-2504 (2018) Sustainability, accountability and democracy: Ireland’s Troika experience. Finance Research Letters, 28 . pp. 53-60. ISSN 1544-6123

Abstract
Sustainability in the public finances. This was the mantra of the IMF-ECB-EC Troika bailout. How was sustainability achieved? Mainly by changing aspects of the budgetary process. Ireland was required to submit the entirety of its budgetary framework for external scrutiny by the Troika and Eurozone member state governments. We briefly explore how the economic constitution of the European Union in the context of the Irish bailout turned macroeconomic sustainability into an instrument to redirect the majority of Irish policy decision-making out of the hands of democratically accountable parliamentarians and into the arms of unaccountable technocrats.
Metadata
Item Type:Article (Published)
Refereed:Yes
Uncontrolled Keywords:Public finances; Troika Bailouts; Ireland; Government
Subjects:Business > Finance
DCU Faculties and Centres:DCU Faculties and Schools > DCU Business School
Publisher:Elsevier
Official URL:http://dx.doi.org/10.1016/j.frl.2018.03.024
Copyright Information:© 2018 Elsevier
ID Code:25051
Deposited On:01 Oct 2020 11:50 by Thomas Murtagh . Last Modified 01 Oct 2020 11:50
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