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The Euro and the Battle of Ideas / Harold James, Markus K. Brunnermeier, Jean-Pierre Landau.

By: Contributor(s): Material type: TextTextPublisher: Princeton, NJ : Princeton University Press, [2016]Copyright date: ©2017Description: 1 online resource (448 p.) : 20 line illusContent type:
Media type:
Carrier type:
ISBN:
  • 9780691178417
  • 9781400883332
Subject(s): DDC classification:
  • 332/.042094 23
Other classification:
  • online - DeGruyter
Online resources: Available additional physical forms:
  • Issued also in print.
Contents:
Frontmatter -- Contents -- Introduction -- Part I. Power Shifts and German-French Differences -- 2. Power Shifts -- 3. Historical Roots of German-French Differences -- 4. German-French Differences in Economic Philosophies -- Part II. Monetary and Fiscal Stability: The Ghost of Maastricht -- 5. Rules, Flexibility, Credibility, and Commitment -- 6. Liability versus Solidarity : No-Bailout Clause and Fiscal Union -- 7. Solvency versus Liquidity -- 8. Austerity versus Stimulus -- Part III. Financial Stability: Maastricht's Stepchild -- 9. The Role of the Financial Sector -- 10. Financial Crises: Mechanisms and Management -- 11. Banking Union, European Safe Bonds, and Exit Risk -- Part IV. Others' Perspectives -- 12. Italy -- 13. Anglo-American Economics and Global Perspectives -- 14. The International Monetary Fund (IMF) -- 15. European Central Bank (ECB) -- 16. Conclusion : Black and White or Twenty-Eight Shades of Gray? -- Acknowledgments -- Notes -- Index
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's 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.
Holdings
Item type Current library Call number URL Status Notes Barcode
eBook eBook Biblioteca "Angelicum" Pont. Univ. S.Tommaso d'Aquino Nuvola online online - DeGruyter (Browse shelf(Opens below)) Online access Not for loan (Accesso limitato) Accesso per gli utenti autorizzati / Access for authorized users (dgr)9781400883332

Frontmatter -- Contents -- Introduction -- Part I. Power Shifts and German-French Differences -- 2. Power Shifts -- 3. Historical Roots of German-French Differences -- 4. German-French Differences in Economic Philosophies -- Part II. Monetary and Fiscal Stability: The Ghost of Maastricht -- 5. Rules, Flexibility, Credibility, and Commitment -- 6. Liability versus Solidarity : No-Bailout Clause and Fiscal Union -- 7. Solvency versus Liquidity -- 8. Austerity versus Stimulus -- Part III. Financial Stability: Maastricht's Stepchild -- 9. The Role of the Financial Sector -- 10. Financial Crises: Mechanisms and Management -- 11. Banking Union, European Safe Bonds, and Exit Risk -- Part IV. Others' Perspectives -- 12. Italy -- 13. Anglo-American Economics and Global Perspectives -- 14. The International Monetary Fund (IMF) -- 15. European Central Bank (ECB) -- 16. Conclusion : Black and White or Twenty-Eight Shades of Gray? -- Acknowledgments -- Notes -- Index

restricted access online access with authorization star

http://purl.org/coar/access_right/c_16ec

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's 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.

Issued also in print.

Mode of access: Internet via World Wide Web.

In English.

Description based on online resource; title from PDF title page (publisher's Web site, viewed 30. Aug 2021)