Title The euro and the battle of ideas / Markus K. Brunnermeier, Harold James, and Jean-Pierre Landau

Published Princeton : Princeton University Press, [2016]

Click on the following:
JSTOR eBooks

Copies

Description 1 online resource (viii, 440 pages) : illustrations Contents Introduction -- Power shifts -- Historical roots of German-French differences -- German-French differences in economic philosophies -- Rules, flexibility, credibility, and commitment -- Liability versus solidarity : no-bailout clause and fiscal union -- Solvency versus liquidity -- Austerity versus stimulus -- The role of the financial sector -- Financial crises : mechanisms and management -- Banking union, European safe bonds, and exit risk -- Italy -- Anglo-American economics and global perspectives -- The International Monetary Fund (IMF) -- European Central Bank (ECB) -- Conclusion : black and white or twenty-eight shades of gray? Summary "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 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."--Publisher's description Bibliography Includes bibliographical references and index Notes In English Print version record Subject Eurozone. Monetary policy -- European Union countries Financial crises -- European Union countries BUSINESS & ECONOMICS -- Finance. BUSINESS & ECONOMICS -- Money & Monetary Policy. Economic policy Eurozone Financial crises Monetary policy Euro Währung Föderalismus Ideengeschichte Wirtschaftskrise Zentralismus Zone euro. Politique monétaire -- Pays de l'Union européenne. Crises financières -- Pays de l'Union européenne. SUBJECT European Union countries -- Economic policy European Economic Community countries -- Economic policy. http://id.loc.gov/authorities/subjects/sh89006824 Subject European Union countries Deutschland Frankreich Pays de l'Union européenne -- Politique économique. Form Electronic book Author James, Harold, 1956- author. Landau, Jean-Pierre, author. ISBN 9781400883332 1400883334

  Permalink