The financial crisis heralds the need for a deep ecological transition

The author contends that EU member states are responding to the financial crisis with austerity and environmental deregulation, which risks creating a deeper long-term environmental crisis. Using Greece as a primary example, the text highlights the collapse of protected areas and a shift toward 'dirty' projects like hydrocarbon exploration. It advocates for a new development paradigm that integrates sustainable development targets into economic adjustment programmes to ensure a transition toward a low-carbon, socially equitable economy.

• The EU's policy response to the financial crisis has focused on austerity, budget cuts, and environmental deregulation, which the author describes as a recipe for a more severe environmental crisis.
• In Greece, the financial crisis has led to the collapse of the national system of protected areas, the near extinction of the renewable energy industry due to pricing policy changes, and a shift in focus toward 'dirty' projects including coal development, gold mining, and hydrocarbon exploration.
• The WWF asserts that the Eurozone crisis is not merely fiscal but is a result of an economic development model based on overconsumption and the overexploitation of natural resources.
• To achieve a sustainable economic shift, Greece should incorporate specific, measurable sustainable development targets and indicators into its economic adjustment programmes.

APA

Nantsou, T. (2014). The financial crisis heralds the need for a deep ecological transition. Green European Journal. https://www.greeneuropeanjournal.eu/the-financial-crisis-heralds-the-need-for-a-deep-ecological-transition/

Chicago

Nantsou, Theodota. The financial crisis heralds the need for a deep ecological transition. Green European Journal, 2014. https://www.greeneuropeanjournal.eu/the-financial-crisis-heralds-the-need-for-a-deep-ecological-transition/.

Wikipedia

{{cite press release |last1=Nantsou |first1=Theodota |title=The financial crisis heralds the need for a deep ecological transition |publisher=Green European Journal |date=1 January 2014 |url=https://www.greeneuropeanjournal.eu/the-financial-crisis-heralds-the-need-for-a-deep-ecological-transition/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{nantsou2014financial, author = {Nantsou, Theodota}, title = {{The financial crisis heralds the need for a deep ecological transition}}, publisher = {Green European Journal}, year = {2014}, month = jan, url = {https://www.greeneuropeanjournal.eu/the-financial-crisis-heralds-the-need-for-a-deep-ecological-transition/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }