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The economies of the Eurozone countries are plagued by multiple crises, which cast major doubts over the future of the Euro. In this engaging new book, leading heterodox economist Malcolm Sawyer argues that the entire policy framework of the Eurozone was fundamentally flawed from its foundation. He shows how these 'design faults' intensified the effects of the crisis, made an effective response to the crash almost impossible, and are now locking in perpetual self-defeating austerity.
Sawyer proposes a bold alternative agenda for reviving the continent's economic prosperity and saving the Euro, centred on a Federal fiscal policy and deep reform of the European Central Bank. He argues, however, that these solutions would require a fundamental transformation that is almost certain to encounter huge ideological and political obstacles. He therefore concludes that Europe faces a bleak economic future, blighted by low growth, high unemployment and social division.
This major contribution to one of the key economic and political issues of our time will be essential reading for everyone interested in Europe's future.
Sommario
* Contents
* Preface
* Chapter 1 - The Euro Crises
* Chapter 2 - The Shaky Foundations of the Euro Project
* Chapter 3 - The Failures of the Euro Area
* Chapter 4 - An Agenda for Prosperity
* Chapter 5 - Barriers to Progress
* Endnotes
* References
Info autore
Malcolm Sawyer is Emeritus Professor of Economics at Leeds University Business School.
Riassunto
The economies of the Eurozone countries are plagued by multiple crises, which cast major doubts over the future of the Euro. In this engaging new book, leading heterodox economist Malcolm Sawyer argues that the entire policy framework of the Eurozone was fundamentally flawed from its foundation.
Relazione
"For an open-minded, clear and analytical discussion of the problems of the euro and the euro zone, the reader can do no better than Malcolm Sawyer's monograph. Whatever one's position on the single currency, this is a must-read."
John Weeks, University of London
"Malcolm Sawyer, like a safety inspector, examines the design faults of the European Union, and highlights measures to make the European system safe. There is no political momentum behind his proposals for greater economic stability and activity - but his book will be indispensable after the next financial crisis focuses European minds. I heartily endorse his analysis."
Ann Pettifor, City University London
