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The euro and the battle of ideas / created by Markus K. Brunnermeier, Harold James, and Jean-Pierre Landau.

By: Contributor(s): Material type: TextTextPublisher: Princeton ; Oxford : Princeton University Press, 2016Copyright date: 2016Description: viii, 440 pages : illustrations ; 25 cmContent type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISBN:
  • 9780691172927 (hardcover : alk. paper)
  • 9780691178417
Subject(s): LOC classification:
  • HC240 BRU
Contents:
Introduction Power shifts Historical roots of German-French differences German-French differences in economic philosophies Rules, flexibility, credibility, and commitment Liability versus solidarity : no-bailout clause and fiscal union Solvency versus liquidity Austerity versus stimulus The role of the financial sector Financial crises : mechanisms and management Banking union, European safe bonds, and exit risk Italy Anglo-American economics and global perspectives The International Monetary Fund (IMF) European Central Bank (ECB) Conclusion : black and white or twenty-eight shades of gray?
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 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."--Publisher's description
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Holdings
Item type Current library Call number Copy number Status Date due Barcode
Book Book PostGraduate Studies Library Open Shelf HC240 BRU (Browse shelf(Opens below)) 161635 Available BK149442

Includes bibliographical references and index.

Introduction Power shifts Historical roots of German-French differences German-French differences in economic philosophies Rules, flexibility, credibility, and commitment Liability versus solidarity : no-bailout clause and fiscal union Solvency versus liquidity Austerity versus stimulus The role of the financial sector Financial crises : mechanisms and management Banking union, European safe bonds, and exit risk Italy Anglo-American economics and global perspectives The International Monetary Fund (IMF) European Central Bank (ECB) Conclusion : black and white or twenty-eight shades of gray?

"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 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."--Publisher's description

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