This book investigates the mechanisms of European Union fiscal policy coordination during periods of severe economic instability, specifically questioning whether the Great Recession and the European Debt Crisis led to widespread free riding among member states. Charlotte Rommerskirchen, a scholar specializing in European political economy, utilizes Mancur Olson’s theory of collective action to re-examine the period. By synthesizing statistical data with primary source interviews from key political actors, the author challenges the prevailing narrative that the EU was dominated by an austerity regime and rampant moral hazard.

Experts recognize this work as a significant contribution to the study of EU economic governance, particularly for its nuanced challenge to the austerity-focused discourse. Readers frequently note the academic density of the prose, which is well-suited for researchers and students of international political economy.