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The Euro and the Battle of Ideas
Markus K. Brunnermeier, Jean-Pierre Landau, Harold James, et al.
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Sozialwissenschaften, Recht, Wirtschaft / Wirtschaft
Beschreibung
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.
Kundenbewertungen
Banking union, Moral hazard, Tax, Financial crisis of 2007–08, Capital market, Insurance, Currency union, Provision (accounting), Income, Milton Friedman, International Monetary Fund, Finance, Conditionality, Investor, Treaty, Eurozone, Devaluation, Financial crisis, Current account, Debt, Bank, Credit risk, Inflation, Bailout, Economic policy, Keynesian economics, Insolvency, Solvency, Central bank, Asset, Credibility, Currency, Deutsche Bundesbank, Bond (finance), Interest rate, Unemployment, Fiscal policy, Recession, Angela Merkel, Crisis management, Political economy, Debtor, Politics, Economics, Haircut (finance), Debt restructuring, European debt crisis, Fiscal union, Maastricht Treaty, Politician, Government bond, Economy, German model, Government debt, Monetary policy, Exchange rate, Eurobond, European Central Bank, European Stability Mechanism, Market liquidity, Financial institution, Economist, European Commission, Economic planning, Financial services, Austerity, Creditor, Funding, Recapitalization, Investment