Discussion Paper Details

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Title: Collective Memories on the 2010 European Debt Crisis *

Author(s): Laura Arnemann, Kai A. Konrad and Niklas Potrafke

Publication Date: January 2021

Keyword(s): aid&reform programmes, Collective memories, European debt crisis, experts and nation-serving biases

Programme Area(s): Public Economics

Abstract: We examine whether collective memories on the aid&reform programs chosen to handle the 2010 European debt crisis diļ¬?er between citizens from borrower and lender countries. We use new international survey data for non-experts and experts in member countries of the euro area. The results show that non-experts from borrower and lender countries remember aspects of the programs in diļ¬?erent manners; indicating biases for assessments of how the crisis outcomes are perceived in borrower and lender countries. Nation-serving biases may well explain if the European debt crisis has reduced the sense of belonging rather than bringing European citizens closer together.

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Bibliographic Reference

Arnemann, L, Konrad, K and Potrafke, N. 2021. 'Collective Memories on the 2010 European Debt Crisis *'. London, Centre for Economic Policy Research.