id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
capitalism--cord-0076071-1p9yuc3z	Theodoropoulou, Sotiria	Recovery, resilience and growth regimes under overlapping EU conditionalities: the case of Greece	2022.0		.txt	text/plain	8351	212	33	The pressures of current account adjustment were fiercer and the ensuing adjustment more painful than they needed have been due to a host of reasons: the absence of a common fiscal capacity at the EU/Eurozone level, the initial absence of a lender of last resort to Eurozone governments, which resulted in too high spreads for troubled governments' bonds in the sovereign debt markets, dogmatism over economic policies in powerful member states, and the lack of political willingness to share the responsibility for the rebalancing of imbalances and of support for a smoother divestment of the savings' exporting member states from their counterparts. The above overview suggests some of the channels through which the literature from the 'third-generation' scholarship of comparative capitalism concluded that the EU integration and in particular the EMU favoured export-led growth regimes over consumption/domestic-demand-led ones in the Euro area have been shifting: more fiscal capacity has been made available to member states through the suspension of fiscal rules and through the RRF, pending also a reform of the EU economic governance; while the RRF regulation establishes some broad policy objectives as conditionality for the use of the Facility's funds, member states have been allowed to set their paths of recovery, green transition and digital transformation, instead of having recipes imposed to them in a top-down fashion by some institutions, fully in line with dogmatic approaches to economic policies of certain influential member states; the ECB is now more mindful of output fluctuations while pursuing price stability and has been actively keeping government bond spreads low while considering the impact of its policies on decarbonisation.	cache/capitalism--cord-0076071-1p9yuc3z.txt	txt/capitalism--cord-0076071-1p9yuc3z.txt