The Euro : How a Common Currency Threatens the Future of Europe

The Euro : How a Common Currency Threatens the Future of Europe

AngličtinaPevná vazba
Stiglitz Joseph E.
Penguin Books Ltd
EAN: 9780241258156
Na objednávku
Předpokládané dodání v pondělí, 20. ledna 2025
648 Kč
Běžná cena: 720 Kč
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Podrobné informace

Solidarity and prosperity fostered by economic integration: this principle has underpinned the European project from the start, and the establishment of a common currency was supposed to be its most audacious and tangible achievement. Since 2008, however, the European Union has ricocheted between stagnation and crisis. The inability of the eurozone to match the recovery in the USA and UK has exposed its governing structures, institutions and policies as dysfunctional and called into question the viability of a common currency shared by such different economies as Germany and Greece. Designed to bring the European Union closer together, the euro has actually done the opposite: after nearly a decade without growth, unity has been replaced with dissent and enlargements with prospective exits. Joseph Stiglitz argues that Europe's stagnation and bleak outlook are a direct result of the fundamental flaws inherent in the euro project - economic integration outpacing political integration with a structure that promotes divergence rather than convergence. Money relentlessly leaves the weaker member states and goes to the strong, with debt accumulating in a few ill-favoured countries. The question then is: Can the euro be saved? Laying bare the European Central Bank's misguided inflation-only mandate and explaining why austerity has condemned Europe to unending stagnation, Stiglitz outlines the fundamental reforms necessary to the structure of the eurozone and the policies imposed on the member countries suffering the most. But the same lack of sufficient political solidarity that led to the creation of a flawed euro twenty years ago suggests that these reforms are unlikely to be adopted. Hoping to avoid the huge costs associated with current policies, Stiglitz proposes two other alternatives: a well-managed end to the common currency; or a bold, new system dubbed 'the flexible euro.' This important book, by one of the world's leading economists, addresses the euro-crisis on a bigger intellectual scale than any predecessor.
EAN 9780241258156
ISBN 0241258154
Typ produktu Pevná vazba
Vydavatel Penguin Books Ltd
Datum vydání 16. srpna 2016
Stránky 256
Jazyk English
Rozměry 243 x 164 x 42
Země United Kingdom
Sekce Professional & Scholarly
Autoři Stiglitz Joseph E.