Title
The economics of the monetary union and the Eurozone crisis [electronic resource] / Manuel Sanchis i Marco.
ISBN
9783319000206 electronic book
3319000209 electronic book
9783319000190
Published
Cham : Springer, [2013?]
Copyright
©2014
Language
English
Description
1 online resource (xiii, 109 pages) : illustrations.
Item Number
10.1007/978-3-319-00020-6 doi
Call Number
HC241
Dewey Decimal Classification
330.94
Summary
A regulatory idea conducted this work: the need to connect the economic rationale of the theory of currency areas with the current EU institutional frame of the European monetary unification process. The latter includes the recent revamping of fiscal rules of the Stability and Growth Pact, and calls for enhancing flexicurity in EU labour markets. The lack of EU political leadership is a dead-weight loss to build a genuine economic and monetary union, and risks to blow-up the whole project. Further, it undermines the internal macroeconomic logic of a single currency like the euro, and gives a prominent non-democratic role to financial markets. As it happened in the past with the gold-standard, the euro condemns today the peripheral countries to a deflationary process which might last for a decade. A more pro-European approach is needed with both sides of the system (core and periphery) making the required adjustment efforts, though in the opposite way, to save the eurozone and Europe.
Bibliography, etc. Note
Includes bibliographical references.
Access Note
Access limited to authorized users.
Source of Description
Description based on online resource; title from PDF title page (SpringerLink, viewed September 9, 2013).
Series
SpringerBriefs in economics, 2191-5504
The Economics of Monetary Union: the Theory of Optimum Currency Areas (OCAs)
The Economic Rationale of Fiscal Rules in OCAs: The SGP and the EDP
To Cope with Asymmetric Shocks in EMU: The Role of Labour Market Flexibility
The Concept of Labour Market Flexicurity in the Eurozone
The Spanish Case: The Housing Market Bubble and External Disequilibria
The Global Crisis and Alternative Scenarios to Save the Euro: A Spanish Perspective
Appendix: Ideology and Economics in the Failure of Lehman Brothers.
