LTReikšminiai žodžiai: Baltijos valstybės; Baltijos šalys (Baltic states); Europos socialinis modelis; Griežtumas; Makroekonominė politika; Neolibaralizmas; Neoliberalizmas; Taupymas; Vidinis nuvertinimas; Vidinė devalvacija; Austerity; Baltic states; European social model; Internal devaluation; Neoliberalism.
ENThis article draws on the experience of the imposition of radical austerity measures in the Baltic states. It challenges the myth that austerity can be achieved in a socially and economically ‘costless’ manner. Baltic-style austerity has now become a template of ‘successful adjustment’ and a recipe for recovery of the Eurozone. The authors argue contra such ‘myth-making’ that austerity is compromising the longer run sustainability of societies that follow this path, while simultaneously ending prospects of the adhesion of a European ‘Social Model’ in the post-communist periphery. The article is a contribution to an emerging debate in academic and policy circles concerning the viability and future of Europe's ‘Social Model’ in an age of austerity. [From the publication]