Summary And Analysis Of The Euro How A Common Currency Threatens The Future Of Europe

Download Summary And Analysis Of The Euro How A Common Currency Threatens The Future Of Europe full books in PDF, epub, and Kindle. Read online Summary And Analysis Of The Euro How A Common Currency Threatens The Future Of Europe ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!

Summary and Analysis of The Euro: How a Common Currency Threatens the Future of Europe

Author : Worth Books
Publisher : Open Road Media
ISBN 13 : 1504043405
Total Pages : 38 pages
Book Rating : 4.5/5 (4 download)

DOWNLOAD NOW!

Book Synopsis Summary and Analysis of The Euro: How a Common Currency Threatens the Future of Europe by : Worth Books

Download or read book Summary and Analysis of The Euro: How a Common Currency Threatens the Future of Europe written by Worth Books and published by Open Road Media. This book was released on 2016-12-27 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: So much to read, so little time? This brief overview of The Euro tells you what you need to know—before or after you read Joseph E. Stiglitz’s book. Crafted and edited with care, Worth Books set the standard for quality and give you the tools you need to be a well-informed reader. This short summary and analysis of The Euro by Joseph E. Stiglitz includes: Historical context Chapter-by-chapter summaries Profiles of the main characters Important quotes Fascinating trivia Glossary of terms Supporting material to enhance your understanding of the original work About The Euro by Joseph E. Stiglitz: In The Euro, Columbia Business School professor and Nobel Prize–winning economist author Joseph E. Stiglitz argues that the fundamental cause of the Eurozone’s recent economic difficulties was the creation of a single currency without the institutions to support it. The euro bound 19 countries with very different economies—and very different views about economics—together, but it did not include the institutions or rules to make such a union succeed. The results of this union are clear: although the United States has experienced growth since the financial crisis, Europe is stagnant and Eurozone unemployment remains over 10%. New York Times bestselling author Joseph Stiglitz outlines three possible ways forward: fundamental reforms to the current system, an end to the single currency experiment, or a new system entirely. The Euro is required reading for all citizens of today’s globalized world. The summary and analysis in this ebook are intended to complement your reading experience and bring you closer to a great work of nonfiction.

Summary of The Euro

Author : Instaread
Publisher : Instaread
ISBN 13 : 1683784855
Total Pages : 43 pages
Book Rating : 4.6/5 (837 download)

DOWNLOAD NOW!

Book Synopsis Summary of The Euro by : Instaread

Download or read book Summary of The Euro written by Instaread and published by Instaread. This book was released on 2016-09-09 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Summary of The Euro by Joseph E. Stiglitz | Includes Analysis Preview: The Euro: How a Common Currency Threatens the Future of Europe is Nobel Prize-winning economist Joseph E. Stiglitz’s evisceration of the euro as the cause of political and economic turmoil in Europe today. From the very start, the decision to create a single currency for Europe was a major mistake founded on faulty ideology and misconceived economic principles. The economic half-truths that guided the construction of the eurozone no longer hold water in 2016 and are outdated. The eurozone is a group of 19 countries with very different political, cultural, and economic systems. By binding them together on minimal convergence criteria and without the structural backbone to keep them unified, the eurozone failed to create an ecosystem of shared risk and reward that would also provide the flexibility necessary for individual countries to manage crises autonomously. What’s more, the austerity measures applied to crisis countries have been unfairly punitive and… PLEASE NOTE: This is key takeaways and analysis of the book and NOT the original book. Inside this Instaread Summary of The Euro by Joseph E. Stiglitz | Includes Analysis · Overview of the Book · Important People · Key Takeaways · Analysis of Key Takeaways About the Author With Instaread, you can get the key takeaways, summary and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience. Visit our website at instaread.co.

Summary of the Euro

Author : Instaread Summaries
Publisher : Idreambooks
ISBN 13 : 9781683784746
Total Pages : 36 pages
Book Rating : 4.7/5 (847 download)

DOWNLOAD NOW!

Book Synopsis Summary of the Euro by : Instaread Summaries

Download or read book Summary of the Euro written by Instaread Summaries and published by Idreambooks. This book was released on 2016-09-06 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Summary of The Euro by Joseph E. Stiglitz - Includes Analysis Preview The Euro: How a Common Currency Threatens the Future of Europe is Nobel Prize-winning economist Joseph E. Stiglitz's evisceration of the euro as the cause of political and economic turmoil in Europe today. From the very start, the decision to create a single currency for Europe was a major mistake founded on faulty ideology and misconceived economic principles. The economic half-truths that guided the construction of the eurozone no longer hold water in 2016 and are outdated. The eurozone is a group of 19 countries with very different political, cultural, and economic systems. By binding them together on minimal convergence criteria and without the structural backbone to keep them unified, the eurozone failed to create an ecosystem of shared risk and reward that would also provide the flexibility necessary for individual countries to manage crises autonomously. What's more, the austerity measures applied to crisis countries have been unfairly punitive and... PLEASE NOTE: This is key takeaways and analysis of the book and NOT the original book. Inside this Instaread Summary of The Euro by Joseph E. Stiglitz - Includes Analysis Overview of the Book Important People Key Takeaways Analysis of Key Takeaways About the Author With Instaread, you can get the key takeaways, summary and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience. Visit our website at instaread.co.

The Euro Crisis in the Media

Author : Robert G. Picard
Publisher : Bloomsbury Publishing
ISBN 13 : 0857729055
Total Pages : 269 pages
Book Rating : 4.8/5 (577 download)

DOWNLOAD NOW!

Book Synopsis The Euro Crisis in the Media by : Robert G. Picard

Download or read book The Euro Crisis in the Media written by Robert G. Picard and published by Bloomsbury Publishing. This book was released on 2015-07-28 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Euro Crisis produced the most significant challenge to European integration in 60 years testing the structures and powers of the European Union and the Eurozone and threatening the common currency. This book explores how the financial and political crisis was portrayed in the European press and the implications of that coverage on public understanding of the developments, their causes, responsibilities for addressing the crisis, the roles and effectiveness of European institutions, and the implications for European integration and identity. It addresses factors that shaped news and analysis, the roles of European leaders, and the extent to which national and pan-European debates over the crisis occurred. In doing so, it provides a clear and readable explanation of what the portrayals tell us about Europe and European integration in the early twenty-first century."

Rewriting the Rules of the European Economy: An Agenda for Growth and Shared Prosperity

Author : Joseph E. Stiglitz
Publisher : W. W. Norton & Company
ISBN 13 : 039365141X
Total Pages : 285 pages
Book Rating : 4.3/5 (936 download)

DOWNLOAD NOW!

Book Synopsis Rewriting the Rules of the European Economy: An Agenda for Growth and Shared Prosperity by : Joseph E. Stiglitz

Download or read book Rewriting the Rules of the European Economy: An Agenda for Growth and Shared Prosperity written by Joseph E. Stiglitz and published by W. W. Norton & Company. This book was released on 2020-01-28 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: A companion to his acclaimed work in Rewriting the Rules of the American Economy, Joseph E. Stiglitz, along with Carter Dougherty and the Foundation for European Progressive Studies, lays out the economic framework for a Europe with faster growth that is more equitably shared. Europe is in crisis. Sluggish economic growth in many countries, widespread income stagnation, and recession have led to severe political and social consequences. Social protections for citizens have been cut back. Governments offer timid responses to deep-seated problems. These economic and political failures have contributed to the rise of extremist parties on the right. Marginalized populations are being made scapegoats for Europe’s woes. But the problems of today’s Europe stem from decisions based on a blind worship of markets in too many areas of policy. If Europe is to return to an innovative and dynamic economy—and if there is to be shared prosperity, social solidarity, and justice—then EU countries need to break with their current, destructive trajectory. This volume offers concrete strategies for renewal that would also reinvigorate the project of European integration, with fresh ideas in the areas of both macroeconomics and microeconomics, including central banking, public investment, corporate governance and competition policy, social policy, and international trade.

The Economic Consequences of the Euro

Author : Stefan Kawalec
Publisher : Economics in the Real World
ISBN 13 : 9780367149369
Total Pages : 0 pages
Book Rating : 4.1/5 (493 download)

DOWNLOAD NOW!

Book Synopsis The Economic Consequences of the Euro by : Stefan Kawalec

Download or read book The Economic Consequences of the Euro written by Stefan Kawalec and published by Economics in the Real World. This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In order to save the European Union and the common market, the book proposes an orderly dismantling of the eurozone, and the creation of a new European currency coordination system. The authors make the case that the optimal solution would be to start the process with the most competitive countries exiting the Eurozone first.

The Euro and the Battle of Ideas

Author : Markus K. Brunnermeier
Publisher : Princeton University Press
ISBN 13 : 1400883334
Total Pages : 457 pages
Book Rating : 4.4/5 (8 download)

DOWNLOAD NOW!

Book Synopsis The Euro and the Battle of Ideas by : Markus K. Brunnermeier

Download or read book The Euro and the Battle of Ideas written by Markus K. Brunnermeier and published by Princeton University Press. This book was released on 2016-08-04 with total page 457 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 Greece, Ireland, Spain, Italy, and other 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. As the authors demonstrate, Germany, a federal state with strong regional governments, saw the Maastricht Treaty, the framework for the Euro, as a set of rules. France, on the other hand, with a more centralized system of government, saw the framework as flexible, to be overseen by governments. The authors discuss how the troubles faced by the Euro have led its member states to focus on national, as opposed to collective, responses, a reaction explained by the resurgence of the battle of economic ideas: rules vs. discretion, liability vs. solidarity, solvency vs. liquidity, austerity vs. stimulus. 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.

Neoliberalism: National and Regional Experiments with Global Ideas

Author : Ravi K. Roy
Publisher : Routledge
ISBN 13 : 1135993661
Total Pages : 394 pages
Book Rating : 4.1/5 (359 download)

DOWNLOAD NOW!

Book Synopsis Neoliberalism: National and Regional Experiments with Global Ideas by : Ravi K. Roy

Download or read book Neoliberalism: National and Regional Experiments with Global Ideas written by Ravi K. Roy and published by Routledge. This book was released on 2006-12-13 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: Critics of globalization often portray neoliberalism as an extremist laissez-faire political-economic philosophy that rejects government any sort of government intervention in the domestic economy. Like most over-used terms, it is more complicated than this introductory sentence suggests. This volume seeks to move beyond these caricature depictions and definitions as well as the emotional rhetoric that has unfortunately dominated both the scholastic and political debate on neoliberalism and global market-oriented reform. This book emphasizes that there are in fact a variety of neoliberalisms that share a common emphasis on the role of the market. Beyond this however, its usages and applications appear much more varied according to the cultural, economic, political, and social context in which it is used. A host of eminent contributors, including Douglass C. North, Arthur T. Denzau, Thomas D. Willett, Mark Blyth, Colin Hay, Craig Parsons, and others provide a rigorous assessment of the significance of neoliberal ideas on economic policy. Through their detailed international case studies the contributors to this book show how varied its impact has in fact been and the result is a book that will stimulate further debate in this most controversial of subject matters. Ravi K. Roy is a Research Scholar at the Claremont Institute for Economic Policy Studies. Arthur T. Denzau is Professor of Economics at Claremont Graduate University. He is also a Research Associate at the Center for American Business at Washington University (St. Louis).Thomas D. Willett is Horton Professor of Economics at Claremont Graduate University. He is also Director of the Claremont Institute for Economic Policy Studies

Eurotragedy

Author : Ashoka Mody
Publisher : Oxford University Press
ISBN 13 : 0199351384
Total Pages : 673 pages
Book Rating : 4.1/5 (993 download)

DOWNLOAD NOW!

Book Synopsis Eurotragedy by : Ashoka Mody

Download or read book Eurotragedy written by Ashoka Mody and published by Oxford University Press. This book was released on 2018 with total page 673 pages. Available in PDF, EPUB and Kindle. Book excerpt: EuroTragedy is an incisive exploration of the tragedy of how the European push for integration was based on illusions and delusions pursued in the face of warnings that the pursuit of unity was based on weak foundations.

Opting Out of the European Union

Author : Rebecca Adler-Nissen
Publisher : Cambridge University Press
ISBN 13 : 1107043212
Total Pages : 267 pages
Book Rating : 4.1/5 (7 download)

DOWNLOAD NOW!

Book Synopsis Opting Out of the European Union by : Rebecca Adler-Nissen

Download or read book Opting Out of the European Union written by Rebecca Adler-Nissen and published by Cambridge University Press. This book was released on 2014-08-14 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides the first in-depth account of how European Union opt-outs and differentiated integration work in practice.

Turbulent and Mighty Continent

Author : Anthony Giddens
Publisher : John Wiley & Sons
ISBN 13 : 0745681271
Total Pages : 278 pages
Book Rating : 4.7/5 (456 download)

DOWNLOAD NOW!

Book Synopsis Turbulent and Mighty Continent by : Anthony Giddens

Download or read book Turbulent and Mighty Continent written by Anthony Giddens and published by John Wiley & Sons. This book was released on 2013-12-18 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: Winner of the 2014 European Book Prize. A "United States of Europe", Winston Churchill proposed in 1946, could "as if by a miracle transform" that "turbulent and mighty continent". "In this way only", he continued, "will hundreds of millions of toilers be able to regain the simple joys and hopes which make life worth living". Today, nearly seventy years later, over 500 million people live in the member states of the European Union – a greater number than in any other political community save for China and India. The currency of the Union, the euro, is used in economic transactions world-wide. Yet the EU is mired in the greatest crisis of its history, one that threatens its very existence as an entity able to have an impact upon world affairs. Europe no longer seems so mighty, instead but faces the threat of becoming an irrelevant backwater or, worse, once again the scene of turbulent conflicts. Divisions are arising all over Europe, while the popularity of the Union sinks. How can this situation be turned around? Now published as a revised and updated paperback that takes account of the May 2014 elections to the European Parliament, Turbulent and Mighty Continent makes a powerful case for a far-reaching and fundamental renewal of the European project as a whole.

A Europe Apart

Author : Roberto Di Quirico
Publisher :
ISBN 13 : 9788883980978
Total Pages : 360 pages
Book Rating : 4.9/5 (89 download)

DOWNLOAD NOW!

Book Synopsis A Europe Apart by : Roberto Di Quirico

Download or read book A Europe Apart written by Roberto Di Quirico and published by . This book was released on 2020-06 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book combines history and political analysis of monetary integration in the European Union (EU) and discusses the main consequences of the euro on both member states' domestic politics and the EU's institutions and policies. The book is structured in three parts. In part I, historical analysis demonstrates that monetary instability and the need for international coordination in currency affairs emerged before political integration became an option. This suggests that monetary and political integration are convergent processes instead of two interconnected components of the wider European integration. Besides, the history of European monetary integration shows that many policies proposed today to face the euro and European crises had been discussed and tested in the past and that results were strictly connected to the specific conditions of the moment. Such a policy analysis-oriented approach to monetary history permits discussing with a different and innovative perspective the actual problems of monetary integration and the unmasking of misleading views of European integration widely diffused in the political debate since the end of the 2000s. Part II and part III discuss the political dimension of the European Economic and Monetary Union's (EMU) problems and the impact on member states' domestic politics. These sections consider themes such as EU institutional transformation, the new EU governance model that emerged due to the crisis, the problematic relationship between European integration and national democracy, and, finally, the role of monetary integration and opposition to the euro in feeding the growing electoral consensus in favour of populist parties. A conclusive chapter summarises the main results of this long-term analysis and answers some research questions anticipated in this book's introduction about the real nature and consequences of monetary integration.

The Crisis of the European Union

Author : Jürgen Habermas
Publisher : John Wiley & Sons
ISBN 13 : 0745681530
Total Pages : 128 pages
Book Rating : 4.7/5 (456 download)

DOWNLOAD NOW!

Book Synopsis The Crisis of the European Union by : Jürgen Habermas

Download or read book The Crisis of the European Union written by Jürgen Habermas and published by John Wiley & Sons. This book was released on 2014-03-03 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Fractured Continent: Europe's Crises and the Fate of the West

Author : William Drozdiak
Publisher : W. W. Norton & Company
ISBN 13 : 0393608697
Total Pages : 272 pages
Book Rating : 4.3/5 (936 download)

DOWNLOAD NOW!

Book Synopsis Fractured Continent: Europe's Crises and the Fate of the West by : William Drozdiak

Download or read book Fractured Continent: Europe's Crises and the Fate of the West written by William Drozdiak and published by W. W. Norton & Company. This book was released on 2017-09-12 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Financial Times Best Political Book of 2017 An urgent examination of how the political and social volatility in Europe impacts the United States and the rest of the world. The dream of a United States of Europe is unraveling in the wake of several crises now afflicting the continent. The single Euro currency threatens to break apart amid bitter arguments between rich northern creditors and poor southern debtors. Russia is back as an aggressive power, annexing Crimea, supporting rebels in eastern Ukraine, and waging media and cyber warfare against the West. Marine Le Pen’s National Front won a record 34 percent of the French presidential vote despite the election of Emmanuel Macron. Europe struggles to cope with nearly two million refugees who fled conflicts in the Middle East and North Africa. Britain has voted to leave the European Union after forty-three years, the first time a member state has opted to quit the world’s leading commercial bloc. At the same time, President Trump has vowed to pursue America First policies that may curtail U.S. security guarantees and provoke trade conflicts with its allies abroad. These developments and a growing backlash against globalization have contributed to a loss of faith in mainstream ruling parties throughout the West. Voters in the United States and Europe are abandoning traditional ways of governing in favor of authoritarian, populist, and nationalist alternatives, raising a profound threat to the future of our democracies. In Fractured Continent, William Drozdiak, the former foreign editor of The Washington Post, persuasively argues that these events have dramatic consequences for Americans as well as Europeans, changing the nature of our relationships with longtime allies and even threatening global security. By speaking with world leaders from Brussels to Berlin, Rome to Riga, Drozdiak describes the crises. the proposed solutions, and considers where Europe and America go from here. The result is a timely character- and narrative-driven book about this tumultuous phase of contemporary European history.

The European Union

Author : Kristin Archick
Publisher :
ISBN 13 : 9781693263408
Total Pages : 28 pages
Book Rating : 4.2/5 (634 download)

DOWNLOAD NOW!

Book Synopsis The European Union by : Kristin Archick

Download or read book The European Union written by Kristin Archick and published by . This book was released on 2019-09-15 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European Union (EU) is a political and economic partnership that represents a unique form of cooperation among sovereign countries. The EU is the latest stage in a process of integration begun after World War II, initially by six Western European countries, to foster interdependence and make another war in Europe unthinkable. The EU currently consists of 28 member states, including most of the countries of Central and Eastern Europe, and has helped to promote peace, stability, and economic prosperity throughout the European continent. The EU has been built through a series of binding treaties. Over the years, EU member states have sought to harmonize laws and adopt common policies on an increasing number of economic, social, and political issues. EU member states share a customs union; a single market in which capital, goods, services, and people move freely; a common trade policy; and a common agricultural policy. Nineteen EU member states use a common currency (the euro), and 22 member states participate in the Schengen area of free movement in which internal border controls have been eliminated. In addition, the EU has been developing a Common Foreign and Security Policy (CFSP), which includes a Common Security and Defense Policy (CSDP), and pursuing cooperation in the area of Justice and Home Affairs (JHA) to forge common internal security measures. Member states work together through several EU institutions to set policy and to promote their collective interests. In recent years, however, the EU has faced a number of internal and external crises. Most notably, in a June 2016 public referendum, voters in the United Kingdom (UK) backed leaving the EU. The pending British exit from the EU (dubbed "Brexit") comes amid multiple other challenges, including the rise of populist and to some extent anti-EU political parties, concerns about democratic backsliding in some member states (including Poland and Hungary), ongoing pressures related to migration, a heightened terrorism threat, and a resurgent Russia. The United States has supported the European integration project since its inception in the 1950s as a means to prevent another catastrophic conflict on the European continent and foster democratic allies and strong trading partners. Today, the United States and the EU have a dynamic political partnership and share a huge trade and investment relationship. Despite periodic tensions in U.S.-EU relations over the years, U.S. and EU policymakers alike have viewed the partnership as serving both sides' overall strategic and economic interests. EU leaders are anxious about the Trump Administration's commitment to the EU project, the transatlantic partnership, and an open international trading system-especially amid the Administration's imposition of tariffs on EU steel and aluminum products since 2018 and the prospects of future auto tariffs. In July 2018, President Trump reportedly called the EU a "foe" on trade but the Administration subsequently sought to de-escalate U.S.-EU tensions and signaled its intention to launch new U.S.-EU trade negotiations. Concerns also linger in Brussels about the implications of the Trump Administration's "America First" foreign policy and its positions on a range of international issues, including Russia, Iran, the Israeli-Palestinian conflict, climate change, and the role of multilateral institutions. This report serves as a primer on the EU. Despite the UK's vote to leave the EU, the UK remains a full member of the bloc until it officially exits the EU (which is scheduled to occur by October 31, 2019, but may be further delayed). As such, this report largely addresses the EU and its institutions as they currently exist. It also briefly describes U.S.-EU political and economic relations that may be of interest.

The Euro Trap

Author : Hans-Werner Sinn
Publisher : OUP Oxford
ISBN 13 : 0191006661
Total Pages : 368 pages
Book Rating : 4.1/5 (91 download)

DOWNLOAD NOW!

Book Synopsis The Euro Trap by : Hans-Werner Sinn

Download or read book The Euro Trap written by Hans-Werner Sinn and published by OUP Oxford. This book was released on 2014-07-31 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a critical assessment of the history of the euro, its crisis, and the rescue measures taken by the European Central Bank and the community of states. The euro induced huge capital flows from the northern to the southern countries of the Eurozone that triggered an inflationary credit bubble in the latter, deprived them of their competitiveness, and made them vulnerable to the financial crisis that spilled over from the US in 2007 and 2008. As private capital shied away from the southern countries, the ECB helped out by providing credit from the local money-printing presses. The ECB became heavily exposed to investment risks in the process, and subsequently had to be bailed out by intergovernmental rescue operations that provided replacement credit for the ECB credit, which itself had replaced the dwindling private credit. The interventions stretched the legal structures stipulated by the Maastricht Treaty which, in the absence of a European federal state, had granted the ECB a very limited mandate. These interventions created a path dependency that effectively made parliaments vicarious agents of the ECB's Governing Council. This book describes what the author considers to be a dangerous political process that undermines both the market economy and democracy, without solving southern Europe's competitiveness problem. It argues that the Eurozone has to rethink its rules of conduct by limiting the role of the ECB, exiting the regime of soft budget constraints and writing off public and bank debt to help the crisis countries breathe again. At the same time, the Eurosystem should become more flexible by offering its members the option of exiting and re-entering the euro - something between the dollar and the Bretton Woods system - until it eventually turns into a federation with a strong political power centre and a uniform currency like the dollar.

Postwar

Author : Tony Judt
Publisher : Penguin
ISBN 13 : 9780143037750
Total Pages : 1000 pages
Book Rating : 4.0/5 (377 download)

DOWNLOAD NOW!

Book Synopsis Postwar by : Tony Judt

Download or read book Postwar written by Tony Judt and published by Penguin. This book was released on 2006-09-05 with total page 1000 pages. Available in PDF, EPUB and Kindle. Book excerpt: Finalist for the Pulitzer Prize • Winner of the Council on Foreign Relations Arthur Ross Book Award • One of the New York Times' Ten Best Books of the Year “Impressive . . . Mr. Judt writes with enormous authority.” —The Wall Street Journal “Magisterial . . . It is, without a doubt, the most comprehensive, authoritative, and yes, readable postwar history.” —The Boston Globe Almost a decade in the making, this much-anticipated grand history of postwar Europe from one of the world's most esteemed historians and intellectuals is a singular achievement. Postwar is the first modern history that covers all of Europe, both east and west, drawing on research in six languages to sweep readers through thirty-four nations and sixty years of political and cultural change-all in one integrated, enthralling narrative. Both intellectually ambitious and compelling to read, thrilling in its scope and delightful in its small details, Postwar is a rare joy. Judt's book, Ill Fares the Land, republished in 2021 featuring a new preface by bestselling author of Between the World and Me and The Water Dancer, Ta-Nehisi Coates.