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This paper aims to describe and discuss the significance of the social policy measures implemented in Southern European countries—Greece, Italy, Portugal and Spain—in response to the first wave of COVID‐19. Our analysis covers interventions from 1 March to June 30, 2020. Despite significant differences in how the COVID‐19 pandemic spread—with Italy and Spain experiencing much higher rates of infection and lethality—Southern European economies are among the most hard‐hit—and are likely to find themselves in the eye of the storm, once more. The paper shows that despite differences in how countries have countered the spread of COVID‐19, there are important commonalities in the actions governments took to counteract the economic impact of the pandemic. Foremost efforts were directed at wage subsidy schemes to contain mass job destruction, additional temporary benefits to compensate self‐employed and other non‐standard workers for the loss of earnings; the expansion of unemployment insurance; and finally, the introduction and/or strengthening of schemes to provide support to families with care responsibilities. The scale of the social policy and employment protection response has nevertheless been constrained by the fiscal position of each individual country in the post‐Euro crisis context. We argue that, in the long run, the response capacity of these governments and the social and economic consequences of this crisis will need to be contextualised against the backdrop of the deep and prolonged impact of austerity‐driven measures on public budgets, production and welfare regimes over the last decade. [ABSTRACT FROM AUTHOR]

This article examines how dissimilar democratization scenarios in two historically important cases helped to shape a major societal outcome, that of unemployment levels. With an empirical focus on the neighboring countries of the Iberian Peninsula, the paper argues that Portugal's relative success and Spain's persistent failures in the provision of employment cannot be fully explained by the focus of some analysts on comparative labor costs, and that the Iberian countries' employment levels also rest on a set of factors connected in sometimes complex ways with the two societies' very different paths from authoritarianism to democracy in the 1970s. Factors emphasized include the degree of incorporation of women into the labor force, the availability of adequate financing for small and medium enterprises—and the impact of national financial systems and state policies on that intermediary outcome—and the extent to which the two countries' welfare states are employment friendly. Central to this article's argument is the claim that the divergence between these Third Wave pioneers in their democratization scenarios accounts for the dissimilar penetration into the Iberian cases of another global wave of the late twentieth century, that of market-centric economic liberalization. [ABSTRACT FROM AUTHOR]