DP15683 Collective Memories on the 2010 European Debt Crisis *

Author(s): Laura Arnemann, Kai A. Konrad, Niklas Potrafke
Publication Date: January 2021
Keyword(s): aid&reform programmes, Collective memories, European debt crisis, experts, nation-serving biases
JEL(s): F36, F55, H12, H87
Programme Areas: Public Economics
Link to this Page: cepr.org/active/publications/discussion_papers/dp.php?dpno=15683

We examine whether collective memories on the aid&reform programs chosen to handle the 2010 European debt crisis di�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 di�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.