Ten years after the financial crisis: The long reach of austerity and its global impacts on health

Journal Articles

The global financial crisis starting in 2007 prompted national governments around the world, and notably many within the European Union, to implement austerity measures. Similar to structural adjustment programs (SAPs) implemented throughout the developing world since the 1980s, much of the pressure to adopt and enforce austerity measures has been levied by global financial institutions such as the IMF. Despite original claims that these measures were intended as ostensibly “short-term” solutions, slow economic recovery or worsening economic conditions in many of the countries impacted by financial crisis has led to an increased number and stringency of measures.

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