Following the outbreak of the international financial crisis, Southern Europe became an epicentre of economic instability and international concern. The prospect of a sovereign debt default in the eurozone's `flaky fringe' sent shock waves through the European and global economies. Examining the crucial initial phase, when the financial crisis was just beginning to spill over into the real economy, the volume surveys the impact of the September 2008 Lehman Brothers' collapse across the EU's southern periphery. The six South European eurozone members - Italy, Greece, Spain, Portugal, Cyprus...

Southern Europe has been at the heart of the European sovereign debt crisis and in the vanguard of the programmes of radical economic austerity implemented to confront it. During the first two crisis years, the consequences for domestic political stability were dramatic. Across the region, 2010-11 saw the overthrow of incumbent governments, the breaking down of established political affiliations and the emergence of new political actors. The culmination was the simultaneous downfall of three South European governments in the space of eighteen days in November 2011. This volume offers a...