Open AccessOutcomes, Not Process: Towards a New Model for European Funding in an Age of Austerity
Author(s) -
John Alan Dodd,
Rory Alexander Moody
Publication year - 2011
Publication title -
journal of contemporary european research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.299
H-Index - 15
ISSN - 1815-347X
DOI - 10.30950/jcer.v7i1.341
Subject(s) - austerity , european commission , government (linguistics) , meaning (existential) , process (computing) , financial crisis , commission , economic policy , local government , business , political science , public economics , european union , economics , public administration , finance , macroeconomics , psychology , linguistics , philosophy , politics , computer science , law , psychotherapist , operating system
In October 2010, the European Commission presented its initial results of the four year-long EU Budget Review. This came as all levels of government from the local up over, attempted to address shared challenges with static or decreasing resources as a result of the economic crisis. This commentary explores how Social Impact Bonds can potentially lead to greater impact for EU funds at the local level, meaning substantial financial savings in the future due to decreased draws on public services.