The political consequences of the economic crises in Europe : electoral punishment and popular protest

Abstract

This exploratory chapter tries to link the electoral consequences of the Great Recession and the protest to which it has given rise. In the first part, the expectations of the economic voting literature are confirmed in a comparative analysis of electoral outcomes, which shows that the fiscal consequences (large budgetary deficits) in particular are giving rise to severe punishment of governing parties by the electorate. The second part links this electoral punishment to the political protest which, in the countries most hit by the crisis, is shown to have been triggered (Western Europe)/reinforced (Central- and Eastern Europe) by fiscal problems of the state in the crisis.