Europe's Orphan (eBook)

The Future of the Euro and the Politics of Debt - New Edition

Martin Sandbu (Autor)

eBook Download: PDF | EPUB

2017 | With a new preface by the author on Brexit and an updated chapter on Britain's place in Europe after the EU referendum
344 Seiten
Princeton University Press (Verlag)
978-1-4008-8551-0 (ISBN)

Infos

Martin Sandbu has been writing about economics for the Financial Times since 2009. Formerly the newspaper's economics leader writer, he currently writes the newspaper's Free Lunch premium economics newsletter. Previously, he was a senior research fellow at the Zicklin Center for Business Ethics Research at the Wharton School of the University of Pennsylvania. He is the author of Just Business: Arguments in Business Ethics.

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A timely account of the Euro crisis that challenges our assumptions about debt and economic recoveryOriginally conceived as part of a unifying vision for Europe, the euro is now viewed as a millstone around the neck of a continent crippled by vast debts, sluggish economies, and growing populist dissent. In Europe's Orphan, leading economic commentator Martin Sandbu presents a compelling defense of the euro. He argues that rather than blaming the euro for the political and economic failures in Europe since the global financial crisis, the responsibility lies firmly on the authorities of the eurozone and its member countries. The eurozone's self-inflicted financial calamities and economic decline resulted from a toxic cocktail of unforced policy errors by bankers, politicians, and bureaucrats; the unhealthy coziness between finance and governments; and, above all, an extreme unwillingness to restructure debt.Sandbu traces the origins of monetary union back to the desire for greater European unity after the Second World War. But the euro's creation coincided with a credit bubble that governments chose not to rein in. Once the crisis hit, a battle of both ideas and interests led to the failure to aggressively restructure sovereign and bank debt. Ideologically informed choices set in motion dynamics that encouraged more economic mistakes and heightened political tensions within the eurozone. Sandbu concludes that the prevailing view that monetary union can only work with fiscal and political union is wrong and dangerous-and risks sending the continent into further political paralysis and economic stagnation.Contending that the euro has been wrongfully scapegoated for the eurozone's troubles, Europe's Orphan charts what actually must be done for the continent to achieve an economic and political recovery.This revised edition contains a new preface addressing the economic and political implications of Brexit, as well as updated text throughout. Europe's Orphan charts what actually must be done for the continent to achieve a full recovery.

Produkt-Details

• Erscheint lt. Verlag: 14.3.2017
• Vorwort: Martin Sandbu
• Zusatzinfo: 25 line illus.
• Verlagsort: Princeton
• Sprache: englisch
• Themenwelt: Geschichte ► Teilgebiete der Geschichte ► Wirtschaftsgeschichte
• Themenwelt: Sozialwissenschaften ► Politik / Verwaltung
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Ökonometrie
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Wirtschaftspolitik
• Schlagworte: account deficits • aggregate demand • aggregate demand management • Alexis Tsipras • asset • At Best • Austerity • Balance of Payments • Balance-of-Payments Crises • balance sheet • Bank • bank debt • Bankruptcy • Berlin • blackmail • Bond (finance) • Bond Yield • Brexit • Britain • Budget • Capital control • Capital Flight • Cash • Central Bank • Centre-right politics • collective fiscal stance • competitiveness • countercyclical fiscal policies • Credit Crunch • Credit (finance) • Creditor • credit risk • Currency • Currency Union • Current Account • debt • Debt Crisis • Debtor • Debt Overhang • Debt Restructuring • debt service • debt writedowns • Deposit account • Deutsche Bundesbank • Devaluation • Dublin • Economic bubble • Economic challenges • Economic Decline • Economic Growth • Economic Policy • economic problem • Economics • economic suffering • economy • Employment • EU • Euro • Eurobond • Eurogroup • Europe • european central bank • European Commission • European Debt Crisis • European economies • European Economy • European Financial Stability Facility • European Integration • European nation states • European policymaking • European Union • European Unity • Eurozone • eurozone countries • eurozone economy • eurozone policymakers • Exchange Rate • Exchange rates • Expense • Fiat Money • Finance • financial aid • Financial Crisis • financial fragmentation • Financial Markets • financial transfers • Fiscal Policy • fiscal union • Funding • German money • Germany • Global financial crisis • Government bond • Government budget • Government budget balance • Government Debt • Greece • Greek government-debt crisis • income • individual currencies • Inflation • Interest Rate • International Monetary Fund • Investment • Investments • Investor • Ireland • Irish banks • Irish economic policy • Labour • Liability (financial accounting) • Macroeconomics • market liquidity • monetary policy • Monetary Union • mutualised debt issuance • national autonomy • National Governments • National policy • nation state • Payment • Policy • political ill will • Politician • Politics • Precedent • private sector • Productivity • Product market • Provision (accounting) • Public Finance • Recession • repayment • rescue fund • Restructuring • saving • Single Currency • single interest rate • solvency • Sovereign debt • Sovereign debt crisis • sovereign debt restructuring • sovereign default • Sovereign Restructuring • Subsidy • Supply (economics) • Syriza • Tax • Taxpayer • There is no alternative • Trade • Uncertainty • Unemployment • United Kingdom • UNITY • wage • World Economy • write-off
• ISBN-10: 1-4008-8551-5 / 1400885515
• ISBN-13: 978-1-4008-8551-0 / 9781400885510