Author: Giuseppe Celi
Publisher: Routledge
ISBN: 1134867603
Category : Business & Economics
Languages : en
Pages : 414
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Book Description
After decades of economic integration and EU enlargement, the economic geography of Europe has shifted, with new peripheries emerging and the core showing signs of fragmentation. This book examines the paths of the core and peripheral countries, with a focus on their diverse productive capabilities and their interdependence. Crisis in the European Monetary Union: A Core-Periphery Perspective provides a new framework for analysing the economic crisis that has shaken the Eurozone countries. Its analysis goes beyond the short-term, to study the medium and long-term relations between ‘core’ countries (particularly Germany) and Southern European ‘peripheral’ countries. The authors argue that long-term sustainability means assigning the state a key role in guiding investment, which in turn implies industrial policies geared towards diversifying, innovating and strengthening the economic structures of peripheral countries to help them thrive. Offering a fresh angle on the European crisis, this volume will appeal to students, academics and policymakers interested in the past, present and future construction of Europe.
Author: Harold James
Publisher: Harvard University Press
ISBN: 0674070941
Category : Business & Economics
Languages : en
Pages : 324
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Book Description
Europe’s financial crisis cannot be blamed on the Euro, Harold James contends in this probing exploration of the whys, whens, whos, and what-ifs of European monetary union. The current crisis goes deeper, to a series of problems that were debated but not resolved at the time of the Euro’s invention. Since the 1960s, Europeans had been looking for a way to address two conundrums simultaneously: the dollar’s privileged position in the international monetary system, and Germany’s persistent current account surpluses in Europe. The Euro was created under a politically independent central bank to meet the primary goal of price stability. But while the monetary side of union was clearly conceived, other prerequisites of stability were beyond the reach of technocratic central bankers. Issues such as fiscal rules and Europe-wide banking supervision and regulation were thoroughly discussed during planning in the late 1980s and 1990s, but remained in the hands of member states. That omission proved to be a cause of crisis decades later. Here is an account that helps readers understand the European monetary crisis in depth, by tracing behind-the-scenes negotiations using an array of sources unavailable until now, notably from the European Community’s Committee of Central Bank Governors and the Delors Committee of 1988–89, which set out the plan for how Europe could reach its goal of monetary union. As this foundational study makes clear, it was the constant friction between politicians and technocrats that shaped the Euro. And, Euro or no Euro, this clash will continue into the future.
Author: Nazaré da Costa Cabral
Publisher: Routledge
ISBN: 1000096548
Category : Business & Economics
Languages : en
Pages : 317
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Book Description
This book provides a much-needed detailed analysis of the evolution of Europe over the last decade, as well as a discussion about the path of reform that has been trodden in the aftermath of the financial crisis. It offers a multidisciplinary view of the E(M)U and captures the main factors that induced the reform of the monetary union – a process that has not been linear and is far from being concluded. The author examines the policy responses designed throughout the development of the crisis and assesses the scale of the crisis in Europe, in comparison to other parts of the world, as well as its prolonged effects both in economic and financial terms. An update on the current ‘state of the art’ in the conception of risk-sharing mechanisms is provided. With its innovative approach, the book analyses the financing issues which need to be taken into consideration in the design of these instruments and highlights the main categories of governmental risk-sharing mechanisms – in particular, the ones to be used as ‘fiscal capacity’. This is a timely and topical book and will be of interest to a broad audience, including experts, scholars and students of European affairs, particularly those with economic, financial, legal and political science backgrounds.
Author: Nicola Acocella
Publisher: Cambridge University Press
ISBN: 1108840876
Category : Business & Economics
Languages : en
Pages : 489
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Book Description
Analyzes the roots of Europe's economic decline, examining institutions of the European Union and exploring possibilities for reform.
Author: Fabian Amtenbrink
Publisher: Oxford University Press
ISBN: 019251248X
Category : Law
Languages : en
Pages : 1649
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Book Description
Presenting a sweeping analysis of the legal foundations, institutions, and substantive legal issues in EU monetary integration, The EU Law of Economic and Monetary Union serves as an authoritative reference on the legal framework of European economic and monetary union. The book opens by setting out the broader contexts for the European project - historical, economic, political, and regarding the international framework. It goes on to examine the constitutional architecture of EMU; the main institutions and their legal powers; the core legal provisions of monetary and economic union; and the relationship of EMU with EU financial market and banking regulation. The concluding section analyses the current EMU crisis and the main avenues of future reform.
Author: Jürgen Habermas
Publisher: John Wiley & Sons
ISBN: 0745681530
Category : Philosophy
Languages : en
Pages : 128
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Book Description
Translated by Ciaran Cronin. In the midst of the current crisis that is threatening to derail the historical project of European unification, Jürgen Habermas has been one of the most perceptive critics of the ineffectual and evasive responses to the global financial crisis, especially by the German political class. This extended essay on the constitution for Europe represents Habermas’s constructive engagement with the European project at a time when the crisis of the eurozone is threatening the very existence of the European Union. There is a growing realization that the European treaty needs to be revised in order to deal with the structural defects of monetary union, but a clear perspective for the future is missing. Drawing on his analysis of European unification as a process in which international treaties have progressively taken on features of a democratic constitution, Habermas explains why the current proposals to transform the system of European governance into one of executive federalism is a mistake. His central argument is that the European project must realize its democratic potential by evolving from an international into a cosmopolitan community. The opening essay on the role played by the concept of human dignity in the genealogy of human rights in the modern era throws further important light on the philosophical foundations of Habermas’s theory of how democratic political institutions can be extended beyond the level of nation-states. Now that the question of Europe and its future is once again at the centre of public debate, this important intervention by one of the greatest thinkers of our time will be of interest to a wide readership.
Author: Miroslav Beblavý
Publisher: Cambridge University Press
ISBN: 1139503634
Category : Business & Economics
Languages : en
Pages : 373
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Book Description
The financial crisis of 2007–10 has presented a number of key policy challenges for those concerned with the long-term stability of the euro area. It has shown that price stability as provided by the European Central Bank is not enough to guarantee financial stability, and exposed fault lines in governance and deficiencies in the architecture of the financial supervisory and regulatory framework. This book addresses these and other issues, including why the crisis affected some countries more than others, whether the euro is still attractive for new EU states, and what policy changes and structural reforms, both macro and micro, should be undertaken to ensure its future viability. Written by a team of leading academic and central bank economists, the book also includes chapters on the cross-country incidence of the crisis, the Irish crisis and ECB monetary policy during the crisis, and studies on Spain, the Baltics, Slovakia and Slovenia.
Author: Kyriakos N. Demetriou
Publisher: Springer
ISBN: 3319087746
Category : Political Science
Languages : en
Pages : 272
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Book Description
This volume is a comprehensive and rigorous exploration of intertwined issues surrounding the EU's democracy and legitimacy, written in the turbulent context of the financial crisis. The chapters are woven together under four interconnected thematic sections that examine: rapidly growing national euroscepticism; the Economic Monetary Union and its legitimacy; the future of EU integration; and democratic deficit(s) across its internal & external structure. The volume presents an authoritative collection of research results and surveys by experts in various disciplines related to the EU, and is addressed to researchers and students examining EU governance, representation and accountability, as well as practitioners across a multiplicity of fields.
Author: Jean Pisani-Ferry
Publisher: Oxford University Press, USA
ISBN: 0199993335
Category : Business & Economics
Languages : en
Pages : 225
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Book Description
The euro's life, while only slightly more than a decade long, has been riddled by a series of challenges and crises. The disparity between the prosperous Northern countries of Germany and France and the plummeting Southern countries, including Italy and Greece, has exacerbated problems withinthe political and economic union of the Eurozone. The North, especially Germany, has debated where to draw the line between doing whatever is necessary to save the common currency and what they have viewed as a charity bailout of countries who flouted the rules for a decade and suffered predictableconsequences. Meanwhile, Southern countries such as Italy, Spain, and Greece have grown increasingly bitter at the attitudes of their partners to the North. Amidst loud and frequent debates, solutions including routes for increased integration and punitive policies and reforms have been enacted anddiscarded to a limited degree of success. The struggles facing this monetary union continue to unfold even today.The Euro Crisis and Its Aftermath was written to inform readers about the history of this enduring European crisis and the alternative proposals for ending it. In four parts, Jean Pisani-Ferry explains the origins of the European currency, the build-up of imbalances and oversights that led to thecrisis, the choices European policymakers have both addressed and ignored since 2010, the evolution of the policy agenda, and possible options for the future. The book is as much of an informative and analytical history as it is a prescriptive solution for a more prosperous future world economy.Rather than putting forth and supporting a thesis, Pisani-Ferry helps readers understand the past and present of the euro crisis and form their own opinions about potential solutions. It has grown out of his book Le Reveil des Demons published in France in 2011. The content has been updatedextensively to cover the events of the past few years and augmented to better explain the Eurozone to a global audience. This book is not intended to reach only economists, as time has long passed since European monetary unification was a debate limited to academics. This book is also for the policymakers searching for solutions, citizens of Europe enduring the consequences, and the international community that has felt the effects of an unstable Eurozone.
Author: Nazaré da Costa Cabral
Publisher: Springer
ISBN: 3319457101
Category : Business & Economics
Languages : en
Pages : 378
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Book Description
This book analyzes the effects of the recent crisis and evaluates potential solutions to the gridlock that is currently dominating the Eurozone and the European Union, concerning both the monetary policy and the budgetary and fiscal policy. The timely study highlights the main challenges that European political leaders will face in the months to come. Furthermore, its interdisciplinary approach embraces economic, financial and legal perspectives, so as to ensure the global coherence and comprehensiveness of its content. The contributors to this volume are prominent experts from the areas of Economics, Finance, Law, and Political Science, offering readers a multifaceted view of the topics discussed.
