Download or read book How to Fix the Euro written by Stephen Pickford and published by Chatham House. This book was released on 2015-01-31 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economic and financial crisis that started in 2007 exposed serious flaws in the euro's original design. This report examines why Europe's economic and monetary union was so badly affected by the crisis, and assesses whether further changes need to be made to the structure of economic governance that underpins it. A Chatham House, Elcano and AREL Report

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 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 What s Wrong with the Euro and How to Fix It written by Erik Jones and published by . This book was released on 2017-01-13 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Euro is in crisis. Economic performance is diverging across EU countries. Politics is tense. Decision-making slow and often conflictive. Policymakers, it seems, are running out of options. Cyprus almost left the single currency by accident in 2013 whilst Greece looked set to opt out by choice (or requirement) just over two years later. The architects of the European Union imagined the Euro would be a crowning achievement; now everyone is asking what went wrong. They also want to know how to fix it. There are many different answers to this pressing question but the key is identifying a path that will unlock a workable solution. In this incisive analysis, Erik Jones argues that we can solve the problems of the Euro by focusing not on the single currency but on the single market. The stresses and strains that Europe is experiencing at the moment derive from the forces unleashed through market liberalization dating back to the late 1980s, if not earlier. European policy-makers, he contends, must do more to channel those forces and to underpin market confidence. In doing so, they will not only safeguard the Euro, they will also help to preserve the achievements and the integrity of the European Union itself.

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 Economic Consequences of the Euro written by Stefan Kawalec and published by . This book was released on 2019-12-05 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book presents a new narrative on the Eurozone crisis. It argues that the common currency has the potential to kill the European Union, and the conventional wisdom that the Eurozone can be fixed by a common budget and further political integration is incorrect. The authors address key questions such as why the European Union and the single market have been successful, why the common currency poses a threat to European integration, and whether it is possible to either fix the Eurozone or dissolve it while keeping the EU and the single market. Contrary to the view that it would be best if the Southern European countries left the Eurozone first, the book makes the case that the optimal solution would be to start the process with the most competitive countries exiting first. The authors argue that a return to national currencies would be beneficial not only to the crisis-ridden southern countries, but also to France and Germany, which were the main promoters of the single currency. An organised unwinding of the Euro area would be beneficial both for the European economy and for Europe's main trading partners. The authors contend that to defend the Euro at all costs weakens the European economy and threatens the cohesion of the European Union. If pro-European and pro-market EU leaders do not dismantle the Eurozone, it will most likely be done by their anti-European and anti-market successors. If that happens, the European Union and the common market will be destroyed. This book will be a useful and engaging contribution to the existing literature in the fields of macro, monetary and international finance and economics"--

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 The Euro and the Battle of Ideas written by Markus K. Brunnermeier and published by Princeton University Press. This book was released on 2018-09-18 with total page 456 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 Eurozone nations has left observers wondering whether the currency union can survive. In this book, Markus Brunnermeier, Harold James, and Jean-Pierre Landau argue that the core problem with the Euro lies in the philosophical differences between the founding countries of the Eurozone, particularly Germany and France. But the authors also show how these seemingly incompatible differences can be reconciled to ensure Europe’s survival. Weaving together economic analysis and historical reflection, The Euro and the Battle of Ideas provides a forensic investigation and a road map for Europe’s future.

Download or read book The Euro Experiment written by Paul Wallace and published by Cambridge University Press. This book was released on 2016 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: A clear, analytical and balanced guide to the euro experiment and subsequent crisis that will appeal to a wide readership.

Download or read book The Incomplete Currency written by Marcello Minenna and published by John Wiley & Sons. This book was released on 2016-06-27 with total page 552 pages. Available in PDF, EPUB and Kindle. Book excerpt: A fact-based treatise on the Eurozone crisis, with analysis of possible solutions The Incomplete Currency is the only technical — yet accessible — analysis of the current Eurozone crisis from a global perspective. The discussion begins by explaining how the Euro's architecture, the relationship between finance and the real economy, and the functioning of the Eurosystem in general are all at the root of the current crisis, and then explores possible solutions rooted in fact, not theory. All topics are analysed and illustrated, making extensive use of examples, tables, and graphics, and the ideas presented are supported by data sets and their statistical elaborations throughout the book. An extensive digital component includes numerical simulations of public debt dynamics for different Eurozone countries, evaluations of the sustainability of programmes like the Fiscal Compact, and stress tests on the ability of institutions like the ESM to cope with major liquidity crises, and the spreadsheets used to calculate data in the book is provided for readers to access for themselves. The survival of the European monetary union has been questioned due to the accumulation of structural imbalances and the negative effects of the global financial crisis. This book lays out the full extent of the problem, explains what caused it, and provides possible solutions backed by extensive data. Dig down to the root of the Eurozone crisis Learn why austerity doesn't fix anything Understand how the Euro has changed economies Consider possible strategies for recovery In a macroeconomic context where the monetary policy is the prerogative of the European Central Bank and fiscal policy, hopeless austerity works against the economic recovery of the Eurozone countries. A positive attitude is difficult, but necessary. The Incomplete Currency is an insightful, important resource that guides readers toward real solutions.

Download or read book The Euro Crisis written by Jeroen Dijsselbloem and published by Prometheus. This book was released on 2018-09-01 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: A lot has already been said and written about the euro crisis: about the causes and consequences of the collapsing economy, the costly rescue of banks, the rising debts, the predicted end of the euro, the imminent exit of Greece, the ongoing search for the guilty parties, the disagreement about solutions, and the big consequences for people across the eurozone. Jeroen Dijsselbloem, president of the Eurogroup, was present at all meetings and sometimes spent nights searching for solutions. In this special book he takes us into the honest, not yet told story behind the euro crisis. Where did it really go wrong? How has the crisis finally been stopped? And how to proceed in the future of the euro zone? The Eurocrisis is the highly personal book of former Eurogroup chairman Dijsselbloem, in which he, as an insider, describes how a continent balanced on the edge of the abyss for years, and how it was ultimately saved. Jeroen Dijsselbloem (1966) is a Dutch politician. From 2012 to 2017 he was Minister of Finance in the Netherlands. From 2013 to January 2018 he was also chairman of the Eurogroup.

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 246 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 Bust written by Matthew Lynn and published by John Wiley & Sons. This book was released on 2010-12-21 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: Athens, Greece—May Day 2010. The International Monetary Fund (IMF) and the European Union (EU) were putting together the final details of a $100 billion euro rescue package for the country. The Greek Prime Minister, George Papandreou, had agreed to a savage package of “austerity measures” involving cuts in public spending and lower salaries and pensions. Outside, riot police were deployed as protestors gathered to fight the austerity program. A country with a history of revolution and dictatorship hovered on the brink of collapse—with the world’s financial markets watching to see if the deal cobbled together would be enough to both calm the markets and rescue the Greek economy, and with it the euro, from oblivion. In Bust: Greece, the Euro, and the Sovereign Debt Crisis, leading market commentator Matthew Lynn blends financial history, politics, and current affairs to tell the story of how one nation rode the wave of economic prosperity and brought a continent, a currency, and, potentially, the global financial system to its knees. Bust is a story of government deceit, unfettered spending, and cheap borrowing: a tale of financial folly to rank alongside the greatest in history. It charts Greece’s rise, and spectacular fall from grace, but it also explores the global repercussions of a financial disaster that has only just begun. It explains how the Greek debt crisis spread like wildfire through the rest of Europe, hitting Ireland, Portugal, Italy, and Spain, and ultimately provoking a crisis that brought the euro to the edge of collapse. And it argues that the Greek crisis is just the start of a decade of financial turmoil that will eventually force the break up of the euro, and a massive retrenchment in the living standards of all the developed economies. Written in a lively and entertaining style, Bust: Greece, the Euro, and the Sovereign Debt Crisis is an engaging and informative account of a country gone wrong and a must-read for anyone interested in world events and global economics.

Download or read book Europe s Hard Fix written by Otmar Issing and published by . This book was released on 2006 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Euro as a Stabilizer in the International Economic System written by Robert A. Mundell and published by Springer. This book was released on 2012-10-26 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The introduction of the euro was an important event for the world economy and the international political system. For the first time in history, a substantial group of European countries-eleven of the fifteen members of the European Union including three members of the G-7-have voluntarily agreed to replace their national currencies with a single currency. The euro area has already become established as the second largest currency area in the world and will therefore become a major player in the international monetary system. The creation of the euro poses a number of interesting questions. Will the euro be a strong or a weak currency? Will the euro challenge the leading position hitherto held by the United States dollar and would sharing of the burdens and advantages of reserve currency status improve or worsen the stability of the international monetary system? How will the euro affect US relations with Europe? Does the formation of the euro intensify European integration in other fields? Is a bi-polar international monetary system viable? These and other issues motivated the Luxembourg Institute for European and International Studies and the Pierre Werner Foundation to organize an international conference in Luxembourg on December 3-4, 1998, on the eve of the birth of the euro. At the outset we were aware that the issue of the euro went far beyond pure economics. Money, after all, is too important a subject to be left to economists.

Download or read book Repair and Prepare written by Henrik Enderlein and published by . This book was released on 2015 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This pilot study, coordinated by Henrik Enderlein (Jacques Delors Institut - Berlin) and Joachim Fritz-Vannahme (Bertelsmann Stiftung) and whose rapporteur is Jörg Haas (Jacques Delors Institut - Berlin) explores how Europe can put a definite end to the euro crisis. It proposes a working method that facilitates cooperation and commitment and identifies questions that Europe needs to answer on the road towards a resilient EMU. Although the first wave of the euro area's economic crisis has receded, this is no time for complacency. The European Union remains threatened by low levels of investment, sluggish reforms, persistent tensions between EU members and an erosion of EU legitimacy. We argue that Europe faces two overarching challenges. First, it needs to repair the massive economic and political damages wrought by the crisis, and second, the euro area needs to eradicate its systemic weaknesses and prepare for future shocks. In its current form, EMU is not viable in the long run. The current crisis has pushed it to its limits, and the next one may tear it apart. What Europe needs now is a comprehensive vision of the path from crisis to resilience that can serve as a guide for concrete action. This pilot study contributes to such a vision in two ways: 1. It develops a roadmap towards a sustainable EMU. The idea is to build strong incentives for all euro-area member states (as well as willing EU member states outside the euro area) to implement structural reforms and commit to an enhanced and more integrated monetary union. In recognition that the current political environment will render difficult any long-term reform process lacking immediate benefits, the roadmap is accompanied by a modernisation pact that focuses on smart debt reduction and a coordinated investment initiative. 2. Moreover, the study identifies "known unknowns," thereby providing a clearer view of questions that need to be answered as Europe moves towards a more resilient monetary union. It outlines which areas need to be researched in more detail.

Download or read book The European Union and the Euro written by Hans Geeroms and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: INTRODUCTION 1 CHAPTER 1. A SHORT HISTORY OF THE EU AND THE EURO CHAPTER 2. DECISION-MAKING IN THE EU AND THE EMU CHAPTER 3. BUDGETARY INSTRUMENTS OF THE EU CHAPTER 4. THE EU SINGLE MARKET CHAPTER 5. THE EU COMPETITION POLICY CHAPTER 6. IS THE EUROZONE AN OPTIMAL CURRENCY AREA? CHAPTER 7. THE EURO CRISIS CHAPTER 8. THE SINGLE MONETARY POLICY CHAPTER 9. THE NEW ECONOMIC GOVERNANCE CHAPTER 10. TOWARDS A BANKING UNION CHAPTER 11. GROWTH AND COMPETITIVENESS CHAPTER 12. THE WAY FORWARD: SAVING THE EURO AND COMPLETING THE EMU.