Euro-Crisis and European Politics

A second research focus is the effect of the 2008 global financial crisis, and the subsequent sovereign debt crisis, on European politics.

In an article published in European Union Politics, Jeff Frieden and I investigate the effects of the Euro-crisis on Europeans’ confidence in government. We find that Europeans’ trust in political institutions has dropped precipitously since the onset of the Euro-crisis, and that trust has declined the most within the countries and among workers most adversely affected. Drawing from an extensive analysis of 600,000 responses to 23 waves of the Eurobarometer, we show that economic, more than cultural or political factors, explain the acute, asymmetrical decline in citizen trust observed over the last decade. The most cited article published in European Union Politics over the last three years, the research has been used by the European Commission and Brookings Institution.

In a study published in the Review of European and Russian Affairs, I examine how the financial crisis and new European Union securities legislation enacted in its aftermath has affected the regulatory practices of key European jurisdictions. Examining the pattern of change in the UK, France, and Germany, I show that in all jurisdictions regulatory policies and practices have changed since 2010; however, the pathway of change has been conditioned by pre-crisis industrial policies. The empirical findings provides support for the economic patriotism thesis. Even as the globalization of finance and the Europeanization of regulation has delimited national strategies, states have continued to promote national interests within integrated markets.