Download or read book Germany and the Politics of Europe s Money written by Karl Kaltenthaler and published by Duke University Press. This book was released on 1998 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: As countries in the European Union struggle to comply with the Maastricht Treaty, the question of monetary integration is at the forefront of European politics. This book explores how and why Germany--whose economic power makes it a pivotal player--has developed inconsistent policies toward European monetary institutions and how these institutions affect domestic politics and state policies toward the institutions.

Download or read book Money and Power in Europe written by Matthias Kaelberer and published by State University of New York Press. This book was released on 2001-06-07 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tracing the forty-year history of negotiations to construct exchange rate regimes in the European Union, Money and Power in Europe emphasizes the role of a state's bargaining power for the formation of rules. In contrast to the prevailing literature's emphasis on domestic factors like sectoral and partisan interests, policy ideas and domestic institutional structures, Matthias Kaelberer highlights the structural conflict of interest between weak and strong currency countries over the rules of monetary cooperation. Strong currency countries, in particular Germany, because they do not face a reserve constraint, are in a position to shape the rules of monetary regimes decidedly in their favor, including the refusal to compromise on rules of domestic macroeconomic adjustment.

Download or read book One Money for Europe written by Malcolm Crawford and published by Springer. This book was released on 2016-07-27 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: Europe is on the road to monetary union (EMU) even if there may be delays and diversions on the way. The focal point of EMU will be its single currency, valid throughout all participating countries, and replacing the national currencies. There will be considerable transitional pain and stress, most of all for member states with very high public debts. For the rest, the road ahead will not be smooth, but should be assisted by easier monetary policy in Germany since 1993. For some countries at least, the pain will be aggravated unnecessarily by design defects in the transitional rules for entry - which there is still time to remedy. The author - no admirer of a federal Europe - describes how EMU could actually work better in a confederal Europe with no federal chief executive and with a relatively weak Parliament. The independent Eurofed would be responsible for managing economic policy on an EC-wide basis, while national governments could use fiscal policies to mitigate local deviations. Weak regions and poor peripheral countries would require more flexible assistance from EC resources, however.

Download or read book The Value of Money written by Matteo Scotto and published by Villa Vigoni Editore | Verlag. This book was released on 2021-03-10 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thanks to the collaboration with renowned economists and policymakers, the publication compares Italian and German macro-economic cultures and performances. When the Bretton Woods system crumbled and currencies lost their direct link to the dollar and their indirect link to gold, these two countries embarked upon strongly different monetary policies. This divergence was reflected in the evolution of the exchange rates: the value of one D-Mark increased from 170 Italian lira under Bretton Woods to 990 Italian lira at the start of European Monetary Union: an astounding devaluation of about 85 per cent for the lira! Firstly, the volume describes the German and the Italian economic and, specifically, monetary models, with major attention paid to institutions such as Deutsche Bundesbank and Banca d'Italia, analysing their development in a diachronic perspective. Secondly, these paradigms are contextualized within a broader European context, which is fundamental to reflect upon possible future scenarios. Das Buch versammelt renommierte Ökonomen und Politiker, hauptsächlich (aber nicht nur) aus Italien und Deutschland. Die Autoren vergleichen die makroökonomischen Kulturen und die Leistungsfähigkeit der beiden Länder. Seit dem Zusammenbruch des Bretton-Woods-Systems verfolgen beide Länder sehr unterschiedliche Geldpolitiken. Die Divergenz spiegelte sich auch in der Entwicklung der Wechselkurse: Der Wert der D-Mark stieg von 170 italienischen Lire unter Bretton Woods-Bedingungen auf 990 italienische Lire zu Beginn der Europäischen Währungsunion – eine atemberaubende Abwertung der Lira um rund 85 Prozent! Der Sammelband beschreibt das deutsche und das italienische Wirtschafts- und insbesondere das Geldmodell. Institutionen wie die Bundesbank und die Banca d'Italia stehen im Zentrum. Der historische Hintergrund wird ebenfalls ausgeleuchtet. In einem zweiten Schritt werden diese Modelle in einem breiteren europäischen Kontext analysiert, auch um mögliche künftige Szenarien aufzuzeigen. Mit Beiträgen von: Pierluigi Ciocca, Lorenzo Codogno, Fabio Colasanti, Federico Fubini, Daniel Gros, Otmar Issing, Harold James, Hans-Helmut Kotz, Ivo Maes, Klaus Masuch, Thomas Mayer, Stefano Micossi, Pier Carlo Padoan, Francesco Papadia, Lucio Pench, Tobias Piller, André Sapir, Gunther Schnabl, Ludger Schuhknecht, Sabine Seeger, Giulio Tremonti, Gertrude Tumpel-Gugerell. Vorwort von Jean-Claude Trichet

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.

Download or read book Saving and Investment in the Twenty First Century written by Carl Christian von Weizsäcker and published by Springer. This book was released on 2022-07-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economy of the 21st century in the OECD countries and in China, is characterized by a new phenomenon: the structural surplus of private savings in relation to private investment. This is true even in a situation of prosperity and very low interest rates. On the one hand, this excess saving is due to people's increasing inclination to save in light of rising life expectancy, driven by the desire to have sufficient assets in old age. On the other hand, the demand for capital is not increasing to the same extent, so that investment is not keeping pace with the rising desire to save. The resulting gap between the private desire for wealth and private investment can only be closed by increasing public debt. This open access book offers a new, capital-theoretical perspective on the macroeconomic relationship between desired wealth and investment, and it presents new empirical data on private wealth and its composition in the OECD plus China area. The authors argue that a free economic and social order can only be stabilized if the wealth aspirations of individuals are met under conditions of price stability. This is not possible without substantial net public debt. A new way of thinking about the economy as a whole is required. By way of an in-depth theoretical and empirical analysis, the book demonstrates this new way of thinking and describes the current challenges facing economic policy. It will appeal to economists and students of economics who are interested in macroeconomic theory and its economic policy implications. An impressive, and convincing theoretical dive into the fundamentals behind secular stagnation, with very strong implications for actual debt policy. Public debt may be needed to improve welfare. - Olivier Blanchard, Senior Fellow at the Peterson Institute for International Economics and Professor of Economics Emeritus at Massachusetts Institute of Technology (MIT). Chief Economist at the International Monetary Fund from 2008 to 2015. Saving and Investment in the Twenty-First Century gives a wholly new perspective on macroeconomics. (...) Weizsäcker and Krämer describe a simple, practical solution to the underemployment that has plagued Southern Europe for more than a decade. - George Akerlof, Nobel Laureate in Economics, 2001. Professor at the McCourt School of Public Policy at Georgetown University and Professor of Economics Emeritus at the University of California, Berkeley. This is a profound and original contribution that can help us to understand and act on the great issues of our times. - Nicholas Stern, Grantham Research Institute on Climate Change and the Environment at the London School of Economics. Author of the Stern Review Report on the Economics of Climate Change. Chief Economist at the World Bank from 2000 to 2003.

Download or read book The National System of Political Economy written by Friedrich List and published by . This book was released on 1904 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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 Europe s Promise written by Steven Hill and published by Univ of California Press. This book was released on 2010-01-19 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: A quiet revolution has been occurring in post-World War II Europe. A world power has emerged across the Atlantic that is recrafting the rules for how a modern society should provide economic security, environmental sustainability, and global stability. In Europe's Promise, Steven Hill explains Europe's bold new vision. For a decade Hill traveled widely to understand this uniquely European way of life. He shatters myths and shows how Europe's leadership manifests in five major areas: economic strength, with Europe now the world's wealthiest trading bloc, nearly as large as the U.S. and China combined; the best health care and other workfare supports for families and individuals; widespread use of renewable energy technologies and conservation; the world's most advanced democracies; and regional networks of trade, foreign aid, and investment that link one-third of the world to the European Union. Europe's Promise masterfully conveys how Europe has taken the lead in this make-or-break century challenged by a worldwide economic crisis and global warming.

Download or read book One Market One Money written by Michael Emerson and published by . This book was released on 1992 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European Community is negotiating a new treaty to establish the constitutional foundations of an economic and monetary union in the course of the 1990s. This study provides the only comprehensive guide to the economic implications of economic and monetary union. The work of an economist inside the Commission of the European Community, it reflects the considerations influencing the design of the union. The study creates a unique bridge between the insights of modern economic analysis and the work of the policy makers preparing for economic and monetary union.

Download or read book The Future of the Euro written by Matthias Matthijs and published by Oxford University Press, USA. This book was released on 2015 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Future of the Euro is an attempt by political economists to scrutinize the fundamental causes of the euro crisis, determine how it could be fixed, and consider its possible futures. The book makes three interrelated arguments about the euro's problem, experience, and future that stress the primacy of political over economic factors.

Download or read book Beyond the Regulatory Polity written by Philipp Genschel and published by Oxford University Press, USA. This book was released on 2014 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume explores the involvement of the European Union in the exercise of core state powers such as foreign and defense policy, public finance, public administration, and the maintenance of law and order.

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.

Download or read book The Left Case Against the EU written by Costas Lapavitsas and published by John Wiley & Sons. This book was released on 2018-12-05 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many on the Left see the European Union as a fundamentally benign project with the potential to underpin ever greater cooperation and progress. If it has drifted rightward, the answer is to fight for reform from within. In this iconoclastic polemic, economist Costas Lapavitsas demolishes this view. He contends that the EU’s response to the Eurozone crisis represents the ultimate transformation of the union into a neoliberal citadel that institutionally embeds austerity, privatization, and wage cuts. Concurrently, the rise of German hegemony has divided the EU into an unstable core and dependent peripheries. These related developments make the EU impervious to meaningful reform. The solution is therefore a direct challenge to the EU project that stresses popular and national sovereignty as preconditions for true internationalist socialism. Lapavitsas’s powerful manifesto for a left opposition to the EU upends the wishful thinking that often characterizes the debate and will be a challenging read for all on the Left interested in the future of Europe.

Download or read book Capitalism Against Capitalism written by Michael Albert and published by John Wiley & Sons. This book was released on 2009-01-27 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: Communism has collapsed. Capitalism has rid itself of the competition on which it thrives. But though now victorious, capitalism has become a threat. The future of us all may be shaped by the outcome of the conflict between capitalism as victor and capitalism as threat. Not only in Europe, but also in the US and Japan - and no doubt shortly in the Eastern countries too - the great debate is capitalism versus capitalism. On the one hand is the "neo-American" model based on individual achievement and short-term profits. On the other is the Rhine model practices in Switzerland, Germany, Benelux, Northern Europe and, partly, in Japan. In the Rhine model collective achievement and public concensus are seen as the keys to long-term success. The first is more seductive, the second more effective. These two opposing forms of capitalism are engaged in a war which, like all internal conflicts, involves both secrecy and even hypocrisy. The outcome of this struggle could affect the quality of life on all levels of society. The author of this book aims to provide a synthesis which will force the reader to consider the political and economic issues at stake towards the end of the century.

Download or read book The Rotten Heart of Europe written by Bernard Connolly and published by Faber & Faber. This book was released on 2013-01-15 with total page 375 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'The Brussels Commission has just suspended its senior economist, Bernard Connolly, for writing a book savaging the prospects for a common currency. There are many who now believe he should be lauded as a prophet.' Observer, Editorial, 1 October 1995'Mr. Connolly's longstanding proposition that the foisting of a common currency upon so many disparate nations would end in ruin is getting a much wider hearing...' New York Times, 17 November 2011When first published in 1995, The Rotten Heart of Europe caused outrage and delight - here was a Brussels insider, a senior EU economist, daring to talk openly about the likely pitfalls of European monetary union. Bernard Connolly lost his job at the Commission, but his book was greeted as a profound and persuasive expose of the would-be 'monetary masters of the world.' His brave act of defiance became headline news - and his book a major international bestseller. In a substantial new introduction, Connolly returns to his prophetic account of the double-talk surrounding the efforts of politicians, bankers and bureaucrats to force Europe into a crippling monetary straitjacket. Hidden agendas are laid bare, skulduggery exposed and economic fallacies are skewered, producing a horrifying conclusion. No one who wants to understand the workings of the EU, past, present and future can afford to miss this enthralling and deeply disturbing book.

Download or read book The Downfall of Money written by Frederick Taylor and published by Bloomsbury Publishing USA. This book was released on 2015-03-03 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Excellent . . . Mr. Taylor tells the history of the Weimar inflation as the life-and-death struggle of the first German democracy . . . This is a dramatic story, well told." --The Wall Street Journal