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9780415820035

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'This book promises to become the defining study on the impact of austerity in the Baltics, otherwise known as the 'Baltic miracle.' The Baltic miracle has been heralded by partisans of neoliberal austerity as demonstrating the success of their economic therapy, despite the pain for the affected populations. As these carefully argued and well-documented studies reveal, if this 'miracle' counts as success, one would hate to imagine what failure might be. As the editors rightly argue, the import of these incisive inquiries is also a stark warning to the European Union, and the world, as the neoliberal assault steadily demolishes the social model that was Europe's great contribution to modern civilization.' - Noam Chomsky 'The crisis of 2008 put Europe's Periphery in a state of civil war between those who had not caused the crisis, and were asked to pay for it, and the few who had caused it but insisted on remaining in power. The Baltic countries were the first battleground on which the powers-that-be fought for their survival wielding the lethal weapon of austerity. They made a desert , called it peace , and then exported it to Ireland and Europe's South hidden behind claims of success in the Baltics. Never before has spectacular economic policy failure been so effectively re-packaged as success and pressed into service so as to enfeeble, humiliate and usurp a whole Continent. By deconstructing the official version of austerity's effects on the Baltics, this book contributes greatly to those who care for Europe and for the truth.' - Yanis Varoufakis 'This is a book by scholars of great integrity and independence, who have spent years on the ground in the Baltics or close by.' - James Galbraith

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Jeffrey Sommers is Associate Professor of Political Economy & Public Policy at the University of Wisconsin-Milwaukee. Charles Woolfson is a labour sociologist at the Institute for Research on Migration, Ethnicity, and Society (REMESO), Linköping University, Sweden.

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