Discussion paper

DP15683 Collective Memories on the 2010 European Debt Crisis *

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


Arnemann, L, K Konrad and N Potrafke (2021), ‘DP15683 Collective Memories on the 2010 European Debt Crisis *‘, CEPR Discussion Paper No. 15683. CEPR Press, Paris & London. https://cepr.org/publications/dp15683