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BL
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| Record Number
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879944
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| Main Entry
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Sandbu, Martin E.
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| Title & Author
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Europe's orphan : : the future of the euro and the politics of debt /\ Martin Sandbu.
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| Edition Statement
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[Revised] paperback edition.
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| Publication Statement
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Princeton :: Princeton University Press,, 2017.
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, ©2015
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| Page. NO
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1 online resource (xx, 317 pages)
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| ISBN
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1400885515
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: 9781400885510
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069116830X
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0691175942
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9780691168302
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9780691175942
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| Bibliographies/Indexes
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Includes bibliographical references and index.
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| Contents
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Preface to the paperback edition -- Preface -- 1. A gaint historic mistake? -- 2. Before the fall -- 3. Greece and the idolatry of debt -- 4. Ireland : the private is political -- 5. Europe digs deeper -- 6. Righting the course : from bail-out to bail-in -- 7. If Europe dared to write down debt -- 8. Eurpoe's real economic challenges -- 9. The politics that the euro needs -- 10. Great Britain or little England? -- 11. Remembering what the euro is for.
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| Abstract
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Originally 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. This book presents a compelling defense of the euro. It 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. The book 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. The book concludes that the prevailing view that monetary union can only work with fiscal and political union is wrong and dangerous. Contending that the euro has been wrongfully scapegoated for the eurozone's troubles, the book charts what actually must be done for the continent to achieve an economic and political recovery. This revised edition addresses the economic and political implications of Brexit. It charts what actually must be done for the continent to achieve a full recovery.
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| Subject
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Debt relief-- European Union countries.
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Euro.
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Eurozone.
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Financial crises-- European Union countries.
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Monetary policy-- European Union countries.
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Money-- European Union countries.
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BUSINESS ECONOMICS-- Finance.
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Crise financière.
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Debt relief.
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Dette publique.
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Economic history.
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Economic policy.
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Euro
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Euro.
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Euro.
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Eurozone.
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Financial crises.
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Finanskrisen 2008-2009.
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Monetary policy.
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Money.
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Öffentliche Schulden
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Penningpolitik.
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POLITICAL SCIENCE-- Public Policy-- Economic Policy.
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Politique économique.
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Reprise économique.
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Skuldavskrivning.
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UE/CE Etats membres.
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UE/CE Euro.
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Währungspolitik
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European Union countries, Economic conditions, 21st century.
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European Union countries, Economic policy.
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European Union countries.
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Eurozone
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| Dewey Classification
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332.4/94
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| LC Classification
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HG925.S24 2017
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