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Author: Richard E. Baldwin
Publisher:
ISBN: 9781907142932
Category :
Languages : en
Pages :
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Book Description
Author: Richard E. Baldwin
Publisher:
ISBN: 9781907142932
Category :
Languages : en
Pages :
Get Book Here
Book Description
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: Matthew Lynn
Publisher: John Wiley & Sons
ISBN: 1119990688
Category : Business & Economics
Languages : en
Pages : 290
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Book Description
Athens, Greece—May Day 2010. The International Monetary Fund (IMF) and the European Union (EU) were putting together the final details of a $100 billion euro rescue package for the country. The Greek Prime Minister, George Papandreou, had agreed to a savage package of “austerity measures” involving cuts in public spending and lower salaries and pensions. Outside, riot police were deployed as protestors gathered to fight the austerity program. A country with a history of revolution and dictatorship hovered on the brink of collapse—with the world’s financial markets watching to see if the deal cobbled together would be enough to both calm the markets and rescue the Greek economy, and with it the euro, from oblivion. In Bust: Greece, the Euro, and the Sovereign Debt Crisis, leading market commentator Matthew Lynn blends financial history, politics, and current affairs to tell the story of how one nation rode the wave of economic prosperity and brought a continent, a currency, and, potentially, the global financial system to its knees. Bust is a story of government deceit, unfettered spending, and cheap borrowing: a tale of financial folly to rank alongside the greatest in history. It charts Greece’s rise, and spectacular fall from grace, but it also explores the global repercussions of a financial disaster that has only just begun. It explains how the Greek debt crisis spread like wildfire through the rest of Europe, hitting Ireland, Portugal, Italy, and Spain, and ultimately provoking a crisis that brought the euro to the edge of collapse. And it argues that the Greek crisis is just the start of a decade of financial turmoil that will eventually force the break up of the euro, and a massive retrenchment in the living standards of all the developed economies. Written in a lively and entertaining style, Bust: Greece, the Euro, and the Sovereign Debt Crisis is an engaging and informative account of a country gone wrong and a must-read for anyone interested in world events and global economics.
Author:
Publisher:
ISBN: 9789295085336
Category :
Languages : en
Pages : 419
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Book Description
This book tells the inside story of those who played key roles in setting up the organisations and combatting the crisis. In exclusive interviews, global financial leaders and ESM insiders provide a rich stock of perspectives and anecdotes that bring to life the urgency of the crisis as well as the innovative solutions found to resolve it. The European Stability Mechanism and its temporary predecessor the EFSF provided billions of euros in loans to five hard-hit euro area countries during the European financial and sovereign debt crisis of the early 2000s, helping to safeguard the stability of those countries and the euro area as a whole. Initially, the crisis-torn euro area was ill-equipped institutionally, but the rapid establishment of the firewalls, the assistance programmes, deep‐seated country reforms, the strengthening of European institutions, and extraordinary European Central Bank measures shielded Europe from a euro area break-up. With the EFSF/ESM set-up, its managers aspired to create a new, more entrepreneurial international financial institution, one that is agile enough to respond quickly to new challenges, while still ensuring the strict governance befitting an organisation pursuing a public mission. The euro area has emerged from near disaster in more robust shape. As Europe strives to further strengthen its architecture in preparation for any possible future crises, it is important to reflect upon how the euro area reinvigorated its fortunes and draw the relevant lessons for future crisis management in Europe and beyond.
Author: Mark Hewitson
Publisher: Berghahn Books
ISBN: 0857457276
Category : History
Languages : en
Pages : 361
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Book Description
The period between 1917 and 1957, starting with the birth of the USSR and the American intervention in the First World War and ending with the Treaty of Rome, is of the utmost importance for contextualizing and understanding the intellectual origins of the European Community. During this time of 'crisis,' many contemporaries, especially intellectuals, felt they faced a momentous decision which could bring about a radically different future. The understanding of what Europe was and what it should be was questioned in a profound way, forcing Europeans to react. The idea of a specifically European unity finally became, at least for some, a feasible project, not only to avoid another war but to avoid the destruction of the idea of European unity. This volume reassesses the relationship between ideas of Europe and the European project and reconsiders the impact of long and short-term political transformations on assumptions about the continent's scope, nature, role and significance.
Author: Paul van den Noord
Publisher:
ISBN: 9789279153631
Category : European Union countries
Languages : en
Pages : 0
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Book Description
The European economy is emerging from its deepest recession since the 1930s. This volume, which brings together economic analysis from the European Commission services, explains how swift policy response avoided a financial meltdown. Europe also needs an improved co-ordinated crisis-management framework to help it respond to any similar situations that may arise in the future. Economic Crisis in Europe is a much-anticipated volume which shows that the beginnings of such a crisis-management framework are emerging, building on existing institutions and legislation and complemented by new initiatives.
Author: Desmond Dinan
Publisher: Bloomsbury Publishing
ISBN: 1350312738
Category : Political Science
Languages : en
Pages : 418
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Book Description
The European Union (EU) is in crisis. The crisis extends beyond Brexit, the fluctuating fortunes of the eurozone and the challenge of mass migration. It cuts to the core of the EU itself. Trust is eroding; power is shifting; politics are toxic; disillusionment is widespread; and solidarity has frayed. In this major new text leading academics come together to unpack all dimensions of the EU in crisis, and to analyse its implications for the EU, its member states and the ongoing study of European integration.
Author: Nicolò Conti
Publisher: Routledge
ISBN: 1351064819
Category : Political Science
Languages : en
Pages : 228
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Book Description
The global financial, economic and sovereign debt crisis since 2008 has led to increases in political disaffection among citizens, a loss of legitimacy of political institutions, the discredit of mainstream parties and the rise of extremist or anti-system political alternatives. This comparative volume sheds greater light on this critical juncture in the recent history of the European Union (EU) by focusing on the evolution of attitudes of national political elites. It examines whether the crisis has affected the legitimacy of the EU integration project as perceived by national political elites and, consequently, if the elite consensus that constituted one of the most solid fundamentals supporting that project has been eroded. Analysing these changes across the different dimensions in which support for the EU is organized and its relationship with the evolution of support towards European integration among citizens in member states, the book addresses a basic question: How have these events affected the perceptions of the EU of national political elites? Ultimately, it sheds light on the evolution of the relationship between the perception of the EU and the national contexts, as well as the likely evolution of the project of European integration in the near future. This book will be of key interest to scholars and students of political elites, EU politics, European integration, political parties, and more broadly to comparative politics, European studies and sociology.
Author: Markus K. Brunnermeier
Publisher: Princeton University Press
ISBN: 0691178410
Category : Business & Economics
Languages : en
Pages : 456
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Book Description
How philosophical differences between Eurozone nations led to the Euro crisis—and where to go from here Why is Europe’s great monetary endeavor, the Euro, in trouble? A string of economic difficulties in Eurozone nations has left observers wondering whether the currency union can survive. In this book, Markus Brunnermeier, Harold James, and Jean-Pierre Landau argue that the core problem with the Euro lies in the philosophical differences between the founding countries of the Eurozone, particularly Germany and France. But the authors also show how these seemingly incompatible differences can be reconciled to ensure Europe’s survival. Weaving together economic analysis and historical reflection, The Euro and the Battle of Ideas provides a forensic investigation and a road map for Europe’s future.
Author: Ivan Berend
Publisher: Routledge
ISBN: 1136193340
Category : Business & Economics
Languages : en
Pages : 186
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Book Description
This book analyzes the European Great Recession of 2008-12, its economic and social causes, its historical roots, and the policies adopted by the European Union to find a way out of it. It contains explicit debates with several economists and analysts on some of the most controversial questions about the causes of the crisis and the policies applied by the European Union. It presents the cases of Iceland, Greece and Ireland, the countries that first declined into crisis in Europe, each of them in a different way. Iceland is a case study for reckless banking practices, Greece of reckless public spending, and Ireland of reckless household indebtedness. At least seven other countries, mostly from the peripheries of Europe, had similarly reckless banking and spending practices. In the center of the book are the economic and social causes of the crisis. Contemporary advanced capitalism became financialized, de-industrialized and globalized and got rid of the "straitjacket" of regulations. Solid banking was replaced by high-risk, "casino-type" activity. The European common currency also had a structural problem — monetary unification without a federal state and fiscal unification. The other side of the same coin is European hyper-consumerism. A new lifestyle emerged during two super-prosperous periods in the 1950s to 1960s, and during the 1990s to 2006. Trying to find an exit policy, the European Union turned to strict austerity measures to curb the budget deficit and indebtedness. This book critically analyzes the debate around austerity policy. The creation of important supra-national institutions, and of a financial supervisory authority and stability mechanisms, strengthens integration. The correction of the euro’s structural mistake by creating a quasi-fiscal unification is even more important. The introduction of mandatory fiscal rules and their supervision promises a long-term solution for a well-functioning common currency. These measures, meanwhile, create a two-tier European Union with a fast-track core. This book suggests that the European Union will emerge stronger from the crisis. This book will be of particular interest to students and researchers of economics, history, political science and international finance, but will also prove profitable reading for practitioners and the interested public.
