Download or read book The Political Economy of Adjustment Throughout and Beyond the Eurozone Crisis written by Michele Chang and published by Routledge. This book was released on 2019-08-08 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume focuses on the aftermath of the euro crisis and whether the reforms have brought about lasting changes to the economic and political structures of the crisis countries or if the changes were short-term and easily abandoned post-bailout and post-recovery. Starting with an analysis of the state of euro area governance at the onset of the crisis and the ensuing reforms, the book considers structural conditions as well as those specific to the domestic political economy of most of the countries affected by the crisis, including Greece, Ireland, Portugal, Spain, and Italy. It presents up-to-date and incisive analysis of the aftermath of the crisis and suggests how we can situate it within our understanding of different national growth models in Europe. This book will be of key interest to scholars, students and practitioners interested in the Euro Crisis, Economic and Monetary Union, European Union and European politics and more broadly to Comparative Politics, Political Economy, International Relations, Economics, Finance, Business and Industry.

Download or read book Beyond Defeat and Austerity written by David J Bailey and published by Routledge. This book was released on 2017-09-22 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Much of the critical discussion of the European political economy and the Eurozone crisis has focused upon a sense that solidaristic achievements built up during the post-war period are being continuously unravelled. Whilst there are many reasons to lament the trajectory of change within Europe’s political economy, there are also important developments, trends and processes which have acted to obstruct, hinder and present alternatives to this perceived trajectory of declining social solidarity. These alternatives have tended to be obscured from view, in part as a result of the conceptual approaches adopted within the literature. Drawing from examples across the EU, this book presents an alternative narrative and explanation for the development of Europe’s political economy and crisis, emphasising the agency of what are typically considered subordinate (and passive) actors. By highlighting patterns of resistance, disobedience and disruption it makes a significant contribution to a literature that has otherwise been more concerned to understand patterns of heightened domination, exploitation, inequality and neoliberal consolidation. It will be of interest to students and scholars alike.

Download or read book Economic Crisis and Structural Reforms in Southern Europe written by Paolo Manasse and published by Routledge. This book was released on 2017-12-12 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years the countries of southern Europe have undergone, with varying intensity, a serious and prolonged economic crisis. Most have had to implement comprehensive economic adjustment programmes, including a wide range of structural reforms. Economic Crisis and Structural Reforms in Southern Europe examines these reforms, drawing policy lessons from their successes and failures. This book employs two basic strands of analysis: issues of policy design, and political economy considerations. It considers the choice of timing and sequencing of reforms, the choice of the appropriate policy instruments, the pressure of interest groups and the political calculations involved in reforms. Featuring chapters in which contributors explore both national cases of specific structural reforms, and a comparative approach in order to evaluate similar reforms across countries, this important and topical work explores ongoing issues within the economy. Focusing on the challenges of designing and implementing structural reforms under conditions of crisis, this book will be of interest to policy makers and researchers from national and international organizations as well as academics and members of research institutes interested in the economics and politics of the Eurozone crisis.

Download or read book Political and Economic Dynamics of the Eurozone Crisis written by James A. Caporaso and published by Oxford University Press. This book was released on 2016-02-25 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first book to provide a full and dispassionate account of the politics and economics of the Eurozone crisis, focusing on the interlinked origins and impacts of the Euro-Zone crisis and the policy responses to it. The book is distinguished from existing research by its avoidance (and rejection) of the too-often simplistic analysis that has characterized political, media and regrettably some academic coverage, and by its attempt to escape from the tyranny of day-to-day events and short-term developments. Each of the contributors identifies an important question and undertakes a careful empirical, theoretically-informed analysis that produces novel perspectives. Together they seek to balance many of the existing accounts that have rushed to sometimes unwarranted conclusions, concerning, for example, the locus of institutional power in European crisis-management; the power and centrality of particular member states, notably Germany which has been attributed with 'hegemonic' status; the supposed entrapment of EU policy makers by an 'austerity ideology'; and the deep flaws that apparently afflict the solutions to the crisis put painstakingly in place, such as Banking Union. While it will be some time before the EU can put the crisis behind it, and the dust finally settles on the revised institutional system that emerges, The Political and Economic Dynamics of the Eurozone Crisis marks an important step towards a considered, reflective analysis of the tumultuous events and developments of the crisis period.

Download or read book The Politics of Bad Options written by Stefanie Walter and published by Oxford University Press. This book was released on 2020 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book sheds new light on the history of the Eurozone crisis and provides crucial lessons for the way forward.

Download or read book Tangled Governance written by C. Randall Henning and published by Oxford University Press. This book was released on 2017 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tangled Governance addresses the institutions that were deployed to fight the euro crisis, re-establish financial stability, and prevent contagion beyond Europe. The author addresses why European leaders chose to include the IMF and provides a detailed account of the decisions of the institutions that make up the 'Troika' (the European Commission, ECB, and IMF). He explains the institutions' negotiating strategies, the outcomes of their interaction, and the effectiveness of their cooperation. The book also explores the strategies of the member states, including Germany and the United States, with respect to the institutions and the advantages they sought in directing them to work together. The book locates the analysis within the framework of regime complexity, clusters of overlapping and intersecting regional and multilateral institutions. It tests conjectures spawned by that literature against the seven cases of financial rescues of euro area countries that were stricken by crisis during 2010-2015. Tangled Governance concludes that regime complexity is the consequence of a strategy by key states to control 'agency drift'. States mediate conflicts among institutions, through informal as well as formal mechanisms, and thereby limit fragmentation of the regime complex and underpin substantive efficacy. In so doing, the book answers several key puzzles, including why (a) Germany and other Northern European countries supported IMF inclusion despite substantive positions opposed to their economic preferences, (b) crisis-fighting arrangements endured intense conflicts among the institutions, and (c) the United States and the IMF promoted further steps to 'complete' the monetary union.

Download or read book Multi level Finance and the Euro Crisis written by Ehtisham Ahmad and published by Edward Elgar Publishing. This book was released on 2016-01-29 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: Representing a unique contribution to the analysis and discussion of the unfolding Eurozone crisis in terms of the relationship between central and local government, this book addresses a number of important fiscal and political economy questions. To what extent have local and regional governments contributed to the crisis? To what degree have sub-national services and investments borne the brunt of the adjustments? How have multi-level fissures affected tensions between different levels of government from the supranational to the local? This volume covers these and many other critical issues that have been largely ignored despite their relevance. The book first addresses general issues of fiscal coordination and management across levels of government in the context of incentives, which can be altered by the existence of a supranational tier. The country-specific chapters, prepared by leading experts, provide a thorough review of the key problems of multi-levels of government in the biggest economies in the Eurozone (France and Germany) and Southern Europe (Portugal, Spain, Italy and Greece). In further chapters the juxtaposition of Barcelona and Turin provides an opportunity to evaluate large investments in a multi-level context, associated, in this case, with the Olympics. Macedonia provides a discussion of the related issues in an EU accession country. As a whole, the book explores the long-term impact of the crisis on local service delivery and investment, and the consequences for sustainable growth and political cohesion. It also offers rarely found insights and suggestions to increase the stability and strength of multi-level European institutions. This is an enlightening resource for all those, from academics and graduates to policy makers and practitioners, seeking a comprehensive understanding of European fiscal, federal and financial issues.

Download or read book Beyond the Crisis written by Mark Dawson and published by Oxford University Press. This book was released on 2015-12-10 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of the euro crisis, the European Union has been transformed in many ways. Is it now on the right track? The euro crisis, the steps taken to manage it, and the resulting transformations have triggered a necessary process of reconsidering economic governance in the European Union. This volume— the third in a series of annual editions tackling different aspects of governance— examines the long list of open political, legal, and economic questions related to the functioning and fundamental structure of the Union as a whole and the economic and monetary union in particular. Organised in three main sections, the contributions to this collection bring the perspectives of different academic disciplines to bear on the functional aspects of economic governance, the institutional transformations that have taken place, and their implications for the Union's legitimacy. A separate chapter looks at inequalities in perceptions of economic conditions and well-being within the European Union to identify trends particularly during the eurozone crisis. In doing so, the chapters in this volume take stock of the current situation, shed light on the dilemmas and challenges that must be recognised and addressed, and explore various options for the way ahead. The collection's ultimate goal is to assess whether the recent transformations lead EU governance in the right direction or require further adjustment.

Download or read book Crisis in the Eurozone Periphery written by Owen Parker and published by Springer. This book was released on 2018-02-19 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book investigates the causes and consequences of crisis in four countries of the Eurozone periphery – Greece, Spain, Portugal and Ireland. The contributions to this volume are provided from country-specific experts, and are organised into two themed subsections: the first analyses the economic dynamics at play in relation to each state, whilst the second considers their respective political situations. The work debates what made these states particularly susceptible to crisis, the response to the crisis and its resultant effects, as well as the manifestation of resistance to austerity. In doing so, Parker and Tsarouhas consider the implications of continued fragilities in the Eurozone both for these countries and for European integration more generally.

Download or read book The Political Economy and Media Coverage of the European Economic Crisis written by Julien Mercille and published by Routledge. This book was released on 2014-08-27 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European economic crisis has been ongoing since 2008 and while austerity has spread over the continent, it has failed to revive economies. The media have played an important ideological role in presenting the policies of economic and political elites in a favourable light, even if the latter’s aim has been to shift the burden of adjustment onto citizens. This book explains how and why, using a critical political economic perspective and focusing on the case of Ireland. Throughout, Ireland is compared with contemporary and historical examples to contextualise the arguments made. The book covers the housing bubble that led to the crash, the rescue of financial institutions by the state, the role of the European institutions and the International Monetary Fund, austerity, and the possibility of leaving the eurozone for Europe’s peripheral countries. Through a systematic analysis of Ireland’s main newspapers, it is argued that the media reflect elite views and interests and downplay alternative policies that could lead to more progressive responses to the crisis.

Download or read book Sovereign Risk and Financial Crisis written by Silvia Pepino and published by . This book was released on 2015 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Euro Crisis written by P. Arestis and published by Springer. This book was released on 2012-04-05 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: A detailed and informed analysis of the current crisis facing the eurozone, examining the root causes and exploring the possible outcomes and uncertain future of the European Union and its currency. Chapters include case studies of Portugal, Ireland, Spain and Greece, as well as broader comparative perspectives.

Download or read book Reflections on the Greek Sovereign Debt Crisis written by Aristidis Bitzenis and published by Cambridge Scholars Publishing. This book was released on 2014-09-26 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: The euro was generally considered a success in its first decade. Nevertheless, the “unanticipated” financial crisis in the summer of 2007 has developed gradually into the worst global economic crisis in post-war economic history and a sovereign debt crisis, calling into question the endurance of positive externalities under the current form of European economic integration. The experience of double-dip recessions in the core of the euro-area and the occurrence of a deflationary spiral in its southern periphery brings into question the wisdom of fiscal consolidation via austerity in the adjustment programmes adopted to exit the crisis. They also put into doubt the adequacy and efficiency of the European Economic and Monetary Union’s core elements, its political instruments and macroeconomic assumptions, as can be seen in the role of the Stability and Growth Pact and the stance of the European Central Bank. The title of this collective volume refers to the country where the European sovereign debt crisis began, while its contents concentrate on the extent to which this crisis should be a national or a European concern. Moreover, the focus on Greece stimulates discussion about the neglected factor of the shadow economy and the potential to boost government revenue through its successful transfer to the formal economy. The chapters address the inefficiencies of both euro-area institutions and policies adopted to exit the current predicament. Experts from several disciplines review the literature and critically evaluate the existence of issues such as contagion effects, domino effects, deflationary spirals, institutional efficiency and the reality of the option to exit the euro-area.

Download or read book Europes Unfinished Currency written by Thomas Mayer and published by Anthem Press. This book was released on 2012-10-01 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: The euro was originally seen as another stepping stone to a politically unified Europe. Yet with the fall of the Berlin Wall, the disintegration of the Soviet Union and the unification of Germany, the need for European political union as a means to ensure peace in Europe disappeared. Due to the fading will for full political union, the euro project lost the prospect of a stable platform in the foreseeable future. As a result, the euro crisis forces policymakers to develop a new architecture for EMU. ‘Europe’s Unfinished Currency’ proposes that this can only be done by way of a currency union of sovereign states, which in itself is a unique historical experiment as no such union has ever survived to date. This volume offers ideas of how the EMU could potentially work, and sketches scenarios of how things might evolve in case of failure. Key Insights: *Outlines the origins of the euro within the quest for the unification of Europe. *Explains the historical failures of past monetary unions, including the Latin and Scandinavian currency unions, the US dollar standard and the Austro-Hungarian union. *Posits that the European Central Bank in cooperation with a European Monetary Fund should act as the lender of last resort to all systemically important borrowers, including governments, to safeguard price stability. *Proposes a new EMU architecture, which includes the creation of a European Monetary Fund. *Discusses possible mutations of the EMU in case of failure.

Download or read book Remaking European Political Economies written by Dennis Zagermann and published by University of Toronto Press. This book was released on 2023-12-18 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: From 2009 to 2015, the euro area of the European Union (EU) experienced an existential socio-economic crisis. To secure its institutional integrity, the EU designed several new institutions to support member states in need but also to facilitate socio-economic adjustments. The European Stability Mechanism (ESM) lies at the centre of this strategy: it provides financial assistance to member states in severe crisis on an intergovernmental basis while demanding compliance with adjustment programs from program countries. Based on a comparative political economic analysis, Remaking European Political Economies shows that the EU’s financial assistance programs focused strongly on reforms that led to a partial convergence of program countries based on market-based economic governance and reduced governmental influence in the economy. The book draws on extensive, empirically based case studies of two prominent euro area countries in crisis: Greece and Ireland. Dennis Zagermann illustrates that socio-economic models in the euro area can experience institutional change if exposed to severe crises in combination with financial assistance programs that include policy conditionality. In doing so, his book sheds light on the central question of whether there is a possible convergence of European models of capitalism – a question that has been at the centre of comparative political economic debates for over thirty years.

Download or read book Financial Crisis Management and Democracy written by Bettina De Souza Guilherme and published by Springer Nature. This book was released on 2020-12-09 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book discusses financial crisis management and policy in Europe and Latin America, with a special focus on equity and democracy. Based on a three-year research project by the Jean Monnet Network, this volume takes an interdisciplinary, comparative approach, analyzing both the role and impact of the EU and regional organizations in Latin America on crisis management as well as the consequences of crisis on the process of European integration and on Latin America’s regionalism. The book begins with a theoretical introduction, exploring the effects of the paradigm change on economic policies in Europe and in Latin America and analyzing key systemic aspects of the unsustainability of the present economic system explaining the global crises and their interconnections. The following chapters are divided into sections. The second section explores aspects of regional governance and how the economic and financial crises were managed on a macro level in Europe and Latin America. The third and fourth sections use case studies to drill down to the impact of the crises at the national and regional levels, including the emergence of political polarization and rise in populism in both areas. The last section presents proposals for reform, including the transition from finance capitalism to a sustainable real capitalism in both regions and at the inter-regional level of EU-LAC relations.The volume concludes with an epilogue on financial crises, regionalism, and domestic adjustment by Loukas Tsoukalis, President of the Hellenic Foundation for European and Foreign Policy (ELIAMEP). Written by an international network of academics, practitioners and policy advisors, this volume will be of interest to researchers and students interested in macroeconomics, comparative regionalism, democracy, and financial crisis management as well as politicians, policy advisors, and members of national and regional organizations in the EU and Latin America.

Download or read book Why Not Default written by Jerome E. Roos and published by Princeton University Press. This book was released on 2019-02-12 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: How creditors came to wield unprecedented power over heavily indebted countries—and the dangers this poses to democracy The European debt crisis has rekindled long-standing debates about the power of finance and the fraught relationship between capitalism and democracy in a globalized world. Why Not Default? unravels a striking puzzle at the heart of these debates—why, despite frequent crises and the immense costs of repayment, do so many heavily indebted countries continue to service their international debts? In this compelling and incisive book, Jerome Roos provides a sweeping investigation of the political economy of sovereign debt and international crisis management. He takes readers from the rise of public borrowing in the Italian city-states to the gunboat diplomacy of the imperialist era and the wave of sovereign defaults during the Great Depression. He vividly describes the debt crises of developing countries in the 1980s and 1990s and sheds new light on the recent turmoil inside the Eurozone—including the dramatic capitulation of Greece’s short-lived anti-austerity government to its European creditors in 2015. Drawing on in-depth case studies of contemporary debt crises in Mexico, Argentina, and Greece, Why Not Default? paints a disconcerting picture of the ascendancy of global finance. This important book shows how the profound transformation of the capitalist world economy over the past four decades has endowed private and official creditors with unprecedented structural power over heavily indebted borrowers, enabling them to impose painful austerity measures and enforce uninterrupted debt service during times of crisis—with devastating social consequences and far-reaching implications for democracy.