Download or read book European Union and Monetary Union in Permanent Crisis I written by Dirk Meyer and published by Springer. This book was released on 2022-10-11 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: European integration efforts are on the brink of collapse. In its current state, the European Monetary Union is unintentionally acting more as a dis-integration factor than as a unifying element. Dirk Meyer provides descriptions, analyses and background information on the current crisis. The book is the result of more than ten years of work on the subject.

Download or read book European Union and Monetary Union in Permanent Crisis II written by Dirk Meyer and published by Springer Nature. This book was released on 2022-09-01 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European Monetary Union based on the Maastricht Treaty doesn’t exist any longer. Permanent rescue parachutes, joint liability and legal presumptions by the EU Commission lead to a fiscal union with a redistributive character. Bond-purchasingprogrammes endanger the independence of the ECB. As an alternative, Dirk Meyer develops a parallel currency concept for a functioning common currency.

Download or read book Making the European Monetary Union written by Harold James and published by Harvard University Press. This book was released on 2012-11-19 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Crisis in the European Monetary Union written by Giuseppe Celi and published by Routledge. This book was released on 2017-12-22 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Monetary Union in Crisis written by B. Moss and published by Springer. This book was released on 2004-12-09 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents a radical reinterpretation of the European Community or Union as a neo-liberal construction. It was neo-liberal rather than classically liberal because it was designed and used as an external instrument to weaken the interventionist welfare state that protected working people and strengthened the hand of labor. It was founded on the vision of a free market untrammelled by public intervention and worked to ensure competition, sound money and profitability against the inflationary force of workers and unions and the welfare state. Monetary union in particular restored profitability but produced slow growth, mass unemployment, and insecurity and came under challenge, most dramatically in France, by working people from below. This view is substantiated by an economically based study of member-state performance and complemented by a series of national studies on the monetarist turn by leading scholars.

Download or read book Europe s path to crisis written by Tom Gallagher and published by Manchester University Press. This book was released on 2014-12-01 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: The EU’s single currency crisis and the ensuing human costs have led to Europe’s biggest disaster since 1945. This book examines each of its stages and the political and social impact, and reveals the longer-term origins of the crisis, particularly the failure of elites to promote a genuine European partnership grounded in democratic values and a desire to co-exist with a national outlook. The author defends an orderly retreat from the existing model of monetary union, arguing that an alternative is needed in order for countries enduring a prolonged slump to recover, and recommending that EU chiefs should also treat the nation-state as a partner in a common emergency that needs to be overcome. This jargon-free, insightful and long-term analysis of a dangerous crisis is an invaluable book for academics and students alike. It is also an effective tool for policy-makers, citizens and business people who require an accessible and in-depth appraisal of a continuing catastrophe.

Download or read book The European Monetary Union After the Crisis written by Nazaré da Costa Cabral and published by Routledge. This book was released on 2020-06-09 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book The European Union in Crisis written by Kyriakos N. Demetriou and published by Springer. This book was released on 2014-10-21 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Crisis and Politicisation written by Benedetta Voltolini and published by Routledge. This book was released on 2021-05-18 with total page 221 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book elucidates the link between the politics of a now seemingly permanent crisis in Europe and the politicisation of European integration. Looking at the epistemic dimension of crises, it suggests that the way in which a crisis is framed and contested determines its potential impact on the level of politicisation of European integration. Europe is more challenged and contested today than it has even been, facing crisis of an almost existential kind. Yet, political crises are manufactured and narrated, so Europe has the possibility to intervene and ‘bring about her recovery’, instead of letting these crises prove terminal. This book explores the political process in and through which certain events come to be framed as constitutive of a moment that requires a decisive intervention. It shows that crises require a double framing: a situation needs to be identified as one of crisis in the first place and, subsequently, the nature and character of the crisis need to be specified. By examining a wide range of policy areas, the book demonstrates that framing of crises, i.e., identifying one situation both as a crisis and a crisis of a particular kind, contributes to the politicisation (or depoliticisation) of the process of European integration. The chapters in this book were originally published as special issue of Journal of European Integration.

Download or read book Unhappy Union written by John Peet and published by The Economist. This book was released on 2014-06-24 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: The euro was supposed to create an unbreakable bond between the nations and people of Europe. But when the debt crisis struck, the flaws of the half-built currency brought the European Union close to breaking point after decades of post-war integration. Deep fault-lines have opened up between European institutions and the nation-states -- and often between the rulers and the ruled -- raising profound questions about Europe's democratic deficit. Belief in European institutions and national governments alike is waning, while radicals on both the left and the right are gaining power and influence. Europe's leaders have so far proved the doomsayers wrong and prevented the currency from breaking up. "If the euro fails, Europe fails," says Angela Merkel. Yet the euro, and the European project as a whole, is far from safe. If it is to survive and thrive, leaders will finally have to confront difficult decisions. How much national sovereignty are they willing to give up to create a more lasting and credible currency? How much of the debt burden and banking risk will they share? Is Britain prepared to walk away from the EU? And will other countries follow? In Unhappy Union, The Economist's Europe editor and Brussels correspondent provide an astute analysis of the crisis. They describe America's behind-the-scenes lobbying to salvage the euro, economists' bitter debates over austerity, the unseen maneuvers of the European Central Bank and the tortuous negotiations over banking union. In the final chapter, they set out the stark choices confronting Europe's leaders and citizens.

Download or read book Economic and Monetary Union written by Michele Chang and published by Bloomsbury Publishing. This book was released on 2016-07-29 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: This accessible introductory text provides a comprehensive and accessible account of the evolution of the Eurozone, from its beginnings in fixed exchange rate systems through to the aftermath of the sovereign debt crisis. It examines why the EMU was created, what went wrong to bring about the global financial crisis, and why countries were affected so differently. It assesses the impact of monetary union both in Europe and beyond and evaluates the prospects for the Euro as an international currency. Recognising that political union has long been seen as part of monetary integration, and that Eurozone membership often impacts domestic policy, Chang widens the scope of her evaluation to include consider effects and developments that are not purely economic in scope. Using theories drawn from economics and political science, this book provides students with an up-to-date analysis of the recent reforms undertaken, grounded in a long-term perspective of the trajectory of European integration. As well as suiting upper-level undergraduate and Master's courses on European Monetary Union, this text is beneficial for students of Politics, International Relations and European Studies on more general courses to foster an understanding of the impact of the EMU on the wider functioning of the EU. The text is filled with figures, maps, timelines and other pedagogical features to ensure this topic accessible to students of all levels.

Download or read book The Euro Crisis and Its Aftermath written by Jean Pisani-Ferry and published by Oxford University Press. This book was released on 2014-04-01 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: The euro's life, while only slightly more than a decade long, has been riddled by a series of challenges and crises. The eruption of the Greek crisis in 2010 took European policymakers by surprise and forced them to design responses to a quickly deteriorating situation. Even though Europe has final begun to stabilize, the disparity between the prosperous Northern countries, especially Germany, and the plummeting Southern countries, including Spain and Greece, has exacerbated economic and political problems within the Eurozone. Amidst loud and frequent debates, solutions have been enacted, but the struggles facing this monetary union continue to develop even today. The Euro Crisis and Its Aftermath was written to inform readers about the roots 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 the crisis, the choices European policymakers have both addressed and ignored since 2010, and 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 discussion of solutions for a more prosperous European 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. 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 policy makers searching for solutions, citizens of Europe enduring the consequences, and the international community that has felt the effects of an unstable Eurozone.

Download or read book The Future of the Euro written by Matthias Matthijs and published by Oxford University Press. This book was released on 2015-03-03 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: In The Future of the Euro, a group of the world's top political economists analyze the fundamental causes of the euro crisis, determine how it can be fixed, and consider what likely futures lie ahead for the currency. The book makes three interrelated arguments emphasizing the primacy of political over economic factors. First, the original plan for the euro focused on monetary union, but omitted a financial and banking union, mutually supporting institutions of fiscal union and economic government, and a legitimate political union. Second, the euro's unfinished design led to economic divergence-quietly altering the existing distribution of economic and political power within Europe prior to the crisis-which in turn determined the EU's crisis response. The book highlights how the euro's four most important member states-Germany, France, Italy and Spain-each changed once they adopted the euro, why the crisis affected them so differently, and how each has since struggled to live with the commitments the euro necessitates. Third, the book examines three possible "euro futures" through the lens of the politics of its reluctant leader Germany; through the lens of the EU's capacity to move forward through crises; and through the geopolitical lens of the international monetary system. Any successful long-term solution to the euro's predicament will need to start with the political foundations of markets.

Download or read book European Disintegration written by Douglas Webber and published by Bloomsbury Publishing. This book was released on 2018-11-20 with total page 427 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new book provides a comprehensive analysis of Europe on the brink of political disintegration. Observers of the European Union (EU) could be forgiven for thinking that it is in a state of permanent crisis. The Union has been beset with high levels of Eurozone debt, Russian intervention and armed conflict in Ukraine, refugees fleeing conflict zones in North Africa and the Middle East, and the decision of Britain to leave the European Union. This text offers a concise and readable assessment of the dynamics, character and consequences of these four crises and the increasingly real possibility of European disintegration. High levels of socio-economic interdependence and institutionalization have failed to result in an ever closer union, and yet the proposed theories of disintegration also fall short. Webber instead shows that it is only by looking at the role of the EU's dominant member, Germany, in each crisis that the potential for an increasingly fragmented Europe becomes clear. Until now, Germany has been the EU's stabilizing force but this is no longer guaranteed. The fate of the integration process will depend on whether other, more inclusive forms of stabilizing leadership may emerge to fill the vacuum created by Berlin's incapacity. This text is the ideal companion for upper undergraduate and postgraduate students of the European Union, as part of degrees in politics, international relations or European studies, or for anyone interested in the crises of the European Union.

Download or read book The Euro Crisis and Its Aftermath written by Jean Pisani-Ferry and published by Oxford University Press, USA. This book was released on 2011 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book The Economics of the Monetary Union and the Eurozone Crisis written by Manuel Sanchis i Marco and published by Springer Science & Business Media. This book was released on 2013-09-06 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt: ​A regulatory idea conducted this work: the need to connect the economic rationale of the theory of currency areas with the current EU institutional frame of the European monetary unification process. The latter includes the recent revamping of fiscal rules of the Stability and Growth Pact, and calls for enhancing ‘flexicurity’ in EU labour markets. The lack of EU political leadership is a dead-weight loss to build a genuine economic and monetary union, and risks to blow-up the whole project. Further, it undermines the internal macroeconomic logic of a single currency like the euro, and gives a prominent non-democratic role to financial markets. As it happened in the past with the gold-standard, the euro condemns today the peripheral countries to a deflationary process which might last for a decade. A more pro-European approach is needed with both sides of the system (core and periphery) making the required adjustment efforts, though in the opposite way, to save the eurozone and Europe. “The theory of optimal currency areas remains the essential framework to understand the design failures of the eurozone. In order to understand these dramatic economic developments that grip the eurozone, Sanchis i Marco’s book is the right one at the right time. He does a superb job in explaining this theory and in making it relevant for our understanding of the problems faced by the eurozone. The last two chapters of the book turn towards an analysis of the crisis of the euro and how to get out of this crisis. By suggesting a path out of the crisis, Professor Sanchis i Marco leaves us with some hope for the future for Spain and other eurozone countries.” Prof. Paul De Grauwe, London School of Economics

Download or read book A Global Perspective on the European Economic Crisis written by Bruno Dallago and published by Routledge. This book was released on 2018-10-24 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial and economic crisis in Europe is not over, and the radically opposing strategies on how to proceed has only increased the complexity of problems in the region, revealing the shortcomings of the EU’s architecture. The European Union, perhaps for the first time in its history of more than seventy years, is being perceived as a threat to the financial and monetary stability of the world. A Global Perspective on the European Economic Crisis explores the connection between internal EU actions and institutions and the external factors that influence the ongoing response to the European crisis. With a unique collection of international and interdisciplinary essays, this book considers the complex macroeconomic and challenging political landscape of Europe, looking at how and why the European Union is untenable in its current state. The chapters outline what should be done to make the common currency area more resilient, and explain why external events are particularly problematic for the EU, ultimately offering suggestions for what Europeans should do in order to avoid harmful internal consequences. This volume confronts the causes of the crisis’ persistence, its economic and political consequences, and the impact of more recent events and policy decisions. It will be of interest to researchers and policy-makers keen to understand the EU relations and the influence of international organizations in the European economic crisis.