Errors have been made,others will be blamed: Issue engagement and blame shifting in prime minister speeches during the economic crisis in Europe

This article investigates prime ministers’ communication strategies during the most recent economic crisis in Europe. It argues that when electoral risk is high but governments’ policy options are severely limited, prime ministers will use specific communication strategies to mitigate electoral risks. Two such communication strategies are analysed – issue engagement and blame shifting – by applying state-of-the-art quantitative text analysis methods on 5,553 speeches of prime ministers in nine European Union member states. Evidence is found for both strategies. Prime ministers talk about the economy more in response to both high (domestic) unemployment and low (domestic) gross domestic product growth. Furthermore, it is found that the (domestic) unemployment rate is the most consistent predictor of blame shifting: as the domestic unemployment rate goes up, this is followed by an increase in blame shifting towards banks, Greece and the Troika of the European Commission, the European Central Bank and the International Monetary Fund.     

Social Movements and the Construction of Crisis Actors: Collective Responsibility,Identity, and Governance

This article examines the Europeanization of social movements following the European sovereign debt crisis. It develops a theoretical framework to measure degrees of social movement Europeanization, incorporating targets, participants, and issue frame dimensions of mobilization. Europeanization of social movements occurs when they collaborate with similar movements in other countries, claim a European identity, invoke Europe-wide solidarity, contest authorities beyond the state and ascribe responsibility for solving the crisis to European Union (EU). By targeting EU authorities, social movements may contribute to the construction of the EU as a crisis actor and through deliberative processes define the roles and identities of such actors.     

Perhaps this time it's different: ideas and interests in shaping international responses to financial crises

The experience of the recent two decades of financial crises shows that donor countries and international financial institutions (IFIs) can respond to a crisis in a peripheral open economy by either of two crisis management strategies: either they can impose harsh conditionality to fix the domestic economy and prevent future moral hazard problems, or they can provide last-resort credit to restore market confidence. In some cases, the crisis management strategy changes as the crisis evolves. What are the factors that determine the choice of key donor countries and IFIs? This article traces the processes by which the USA and the International Monetary Fund designed the crisis management strategy in respect to the Asian crisis, and how Germany and the European Central Bank designed the response to the eurozone crisis, in order to understand how ideas regarding the causes and solutions of a financial crisis interact with the interests of key donor countries. The article argues that in both cases ideas and interests are mutually constituted, but in each case the mechanism that linked ideas and interests was different: whereas in the Asian case US interests led to policy innovation and experimentation and to a change in the crisis management strategy, in the European case ideas played a greater role in shaping German interests. The article explains this difference on the basis of the lessons learned by IFIs from the Asian crisis, which were then implemented in the eurozone case.     

The charismatic leadership of the ECB presidency: A language-based analysis

There is little doubt that the European Central Bank (ECB), and in particular its presidency, has taken the lead in tackling the euro crisis. But can this leadership be also characterised as charismatic? This article answers the question by focusing on language – a key component as well as a reliable indicator of charisma. By means of a software-assisted content analysis of the entire corpus of ECB presidential speeches, it is found that the crisis has indeed led to the emergence of the Bank's presidency as a charismatic euro leader. This in turn confirms the recent politicisation of the ECB, but at the same time might be seen as mitigating the problems related to the Bank's democratic deficit, to the extent that charisma can be seen, from a Weberian standpoint, as an alternative source of political legitimacy.     

Overcoming the division bloc and its limitations: a Gramscian approach to South Korean social formation

Abstract

Colonialism affects post-colonial social formations in a variety of ways. Japanese colonial rule had a far-reaching influence on South Korean post-colonial social formation. Most legacies of colonialism diminished as time went by, but one legacy of colonialism continued or even increased its effects on the South Korean political economy from the 1960s – namely, the division of Korea. This article provides an alternative Gramscian approach to the analysis of the social formation of South Korea, with due consideration of the division of the peninsula. For that purpose, it introduces the concept of a division bloc, adapting Gramsci’s concept of a historical bloc to develop an analysis of a social formation that is unique to South Korea. Then, I explicate the two events that have been most damaging for the division bloc – the 1997 economic crisis and the 1998–2007 inter-Korean reconciliation – describing them as an organic crisis and a hegemonic project, respectively. Following this, I present reasons why the counter-hegemonic efforts of liberal nationalists to overcome the division bloc failed.     

Increased economic salience or blurring of responsibility? Economic voting during the Great Recession

There is a puzzle which emerged following the Eurozone crisis: whereas the salience of the economy suggests an increase in economic voting, the realization that economic policies have become Europeanised may blur the responsibility of national governments, thus decreasing economic perceptions' weight on electoral choices. Do these mechanisms exclude each other? Do they refer to different groups of the electorate? We first examine the longitudinal trends of economic voting from 2002 to 2015 in three bailed out countries, namely Ireland, Portugal and Spain, to see if the economy's salience during the Great Recession increased the relevance of the economic perceptions in these countries. Secondly, making use of a unique media dataset of the last 16 years we test whether exposure to major mainstream newspapers that focus on the EU mitigates economic voting. On average, economic voting increased following the crisis. However, individuals who are more informed about the EU tend to use economic voting to a lesser extent, given they are more aware of the national government's limited room for manoeuvre.     

Making Sense of Turkey’s Reaction to the Qatar Crisis

ABSTRACT

When the Qatar crisis erupted in June 2017, Turkey quickly sided with Qatar, sending tons of food supplies and deploying troops in the Emirate. Yet, from a purely geopolitical and economic perspective, Turkey would have been expected not to take sides given its much larger trade relations with Saudi Arabia and the United Arab Emirates, and their political clout in the region and beyond. It seems that the path dependence in bilateral relations between Turkey and Qatar pre-ordained the former’s reaction. More specifically, by the time the Gulf crisis erupted, Turkey and Qatar had already developed a special relationship, which strongly affected Turkey’s pro-Qatar stance.     

Superpower and Small-State Mediation in the Qatar Gulf Crisis

ABSTRACT

The Qatar Gulf crisis of 2017 saw a number of mediation initiatives, including those of the United States and Kuwait. However, the two countries present two substantially distinct models of third-party intervention: superpower mediation (the United States) and small-state mediation (Kuwait). Comparing the two types of intervention in this crisis in terms of their ability to de-escalate tension and effectively resolve the Gulf crisis with respect to three variables – timing of mediation, leverage of the mediator (hard power versus legitimacy) and interest of the mediator – it would seem that small-state mediation has been more effective in crisis de-escalation, while superpower mediation has further exacerbated the crisis.     

银行危机处置过程中的股东权利限制研究

银行危机处置过程中股东权利限制是危机时期社会规制的需要,规制的原因包括维护金融稳定、预防系统性风险的发生、维护存款者的市场信心和预防股东道德风险发生。但股东权利保护是现代企业制度的核心内容,这就在"限制"与"保护"之间形成矛盾,这是银行生存的不同时期,股东行使权利正当性基础的差别造成的。因此,分析银行运行不同时期股东权行使的正当性基础,是论证银行危机处置期股东权利限制必要性的基础,同时,股东权利的限制必然影响到公司治理中利益相关主体间的权利结构平衡,故从法律规制和银行公司治理结构调整两个方面对"矛盾"的协调提出完善的建议。     

涉外民商事审判中的自由裁量权探析——以金融危机应对和指导性案例为中心

法官自由裁量权在两大法系中都是存在的，其在涉外民商事领域的功效尤为凸显。我国现行涉外民商事立法主动或被动地赋予了法官在涉外民商事审判中极大的自由裁量权。《中华人民共和国涉外民事关系法律适用法》的通过使得涉外民商事法律适用法迈进了一步，但是立法的局限性进步仅仅是在某种程度上使得自由裁量权由过去的空洞无序迈向有序。正值我国指导性案例成行之初，借助该契机，在建立我国涉外民商事审判领域指导性案例体系的同时，实现法官在该领域自由裁量权的突破，弥补和修正立法的不足，也为金融危机等情势提供应对路径。