Despite the success of policymakers and the European Central Bank in calming down financial markets since the summer of 2012, European leaders are still facing formidable challenges in making the single currency work in a complex environment. This book starts with a review of the necessary elements of a currency union and highlights the reasons why the system has run into its present troubles. It points to important policy recommendations to be drawn from a structural analysis of the currency union, achievements and failures of the currency union and ways to improve fiscal sustainability and arrive at stable macroeconomic performance for the union. It highlights the importance and the effectiveness of structural reforms that have to accompany fiscal consolidation and discusses the appropriate tools of crisis management and why a restructuring of the Eurozone is not the right step. Based on these considerations, a long-term target picture for the Eurozone as a part of the EU is outlined, providing a valuable contribution to a hopefully intense public debate in the coming years.
Despite the success of policymakers and the European Central Bank in calming down financial markets since the summer of 2012, European leaders are still facing formidable challenges in making the single currency work in a complex environment. This book starts with a review of the necessary elements of a currency union and highlights the reasons why the system has run into its present troubles. It points to important policy recommendations to be drawn from a structural analysis of the currency union, achievements and failures of the currency union and ways to improve fiscal sustainability and arrive at stable macroeconomic performance for the union. It highlights the importance and the effectiveness of structural reforms that have to accompany fiscal consolidation and discusses the appropriate tools of crisis management and why a restructuring of the Eurozone is not the right step. Based on these considerations, a long-term target picture for the Eurozone as a part of the EU is outlined, providing a valuable contribution to a hopefully intense public debate in the coming years.
The existing explanations on the cause of developing countries' marginalization notwithstanding, there are, nonetheless, questions that remained unanswered. In this work the author finds empirical...
This book traces the evolution of concessional financing to Third World countries from its postwar origins in the Marshall Plan to the debt crisis that engulfed virtually the entire Third World in...
Preface - Notes on the Contributors - Introduction; G.Vaggi - PART 1: INDUSTRY VERSUS AGRICULTURE: THE ECONOMIC THEORY OF SECTORS AND DEVELOPMENT - Orthodox Development Theories and their...
Crime, Justice and Social Democracy is a provocative and thoughtful collection of timely reflections on the state of social democracy and its inextricable links to crime and justice. Authored by some...
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