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The Future of the EuroFrom Oxford University Press
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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.
- Sales Rank: #651885 in Books
- Published on: 2015-04-02
- Released on: 2015-04-02
- Original language: English
- Number of items: 1
- Dimensions: 6.10" h x 1.10" w x 9.20" l, .0 pounds
- Binding: Paperback
- 368 pages
Review
"[A] coherent collection of essays by a group of political economists... the contributions also shatter some complacent assumptions about the EU."
--Times Literary Supplement
"This is a very timely book. The authors of this collection of essays are world class researchers. They provide us with an exhaustive analysis of the necessary political steps to be undertaken to make the Eurozone sustainable in the long run. There is still a long way to go. In this exciting book we learn what this road will look like." -- Paul De Grauwe, John Paulson Chair in European Political Economy, London School of Economics
"A vital contribution-if you want to understand the challenges at the heart of Europe's continuing crisis, put yourself in the hands of this dream-team of experts. Matthijs and Blyth have crafted a volume that is both timely and essential." -- Jonathan David Kirshner, Stephen and Barbara Friedman Professor of International Political Economy, Cornell University
"The book provides the theoretical background a careful insight into the earlier forms of a monetary union in history with short and concise representations."
-- Cezmi Dispinar
About the Author
Matthias Matthijs, Assistant Professor of International Political Economy, Johns Hopkins University-SAIS and author of Ideas and Economic Crises (Routledge)
Mark Blyth, Professor of Political Science, Brown University and author of Austerity (Oxford University Press) and Great Transformations (Cambridge University Press)
Most helpful customer reviews
1 of 1 people found the following review helpful.
Talk about good timing. This excellent collection of essays helps provide ...
By michael d. mosettig
Talk about good timing. This excellent collection of essays helps provide some basic understanding of a subject that can be baffling for both Americans and Europeans. Let's see if the Euro has a future, speaking as one who thought from the beginning it was a bridge too far in the European construction.
1 of 1 people found the following review helpful.
It gives you the dynamics at work in the European ...
By Douglas Gould
It gives you the dynamics at work in the European Union that point out both why the EU should work and why it should not. The authors do not have an axe to grind, but let you draw your own conclusion.
0 of 0 people found the following review helpful.
Extremely well written, the only book you have to read about the Euro crisis and its future!
By Raku
This book provides not only the best explanation for what is going on in the Euro crisis, but an understanding of the more fundamental requirements of a currency union and the social, political, and economic spheres in which it is embedded. The scholars, all top in their field, discuss how different countries benefited and reacted in different ways over time to EMU successes and challenges, and how supposedly technocratic decisions are in fact deeply political. This is the one book you have to read. Appropriate for academic and non-academic audiences.
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