This book takes a close look at macroeconomic imbalances within the
Eurozone and explores the profound consequences the introduction of
the European Monetary Union (EMU) has had on Euro area countries.
Particular attention is given to balance of payments deficits and
surpluses, and the profound difficulties of rebalancing the Euro area.
Throughout the chapters, the author argues that the EMU has failed to
support an optimal currency area with the correct institutional
arrangements due to misunderstandings at a macroeconomic level. The
author also sheds light on the stability pact and the resulting
macroeconomic trap which has left a number of Eurozone countries with
devastatingly high rates of unemployment. The book argues that by
disregarding important macroeconomic imbalances, Euro-monetarists have
derailed the entire Eurozone project to such an extent that it is at
risk of falling apart. Key chapters discuss the establishment of the
EMU from a Euro-realist perspective and the role of the European
Central Bank in rebalancing financial markets. The concluding chapter
looks ahead to the future of the Euro and proposes necessary
institutional solutions to the macroeconomic problems it is currently
facing. Scholars and students with an interest in the current economic
disarray within the Eurozone will find this work thought-provoking and
highly informative.
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Produktdetaljer
ISBN
9783319463889
Publisert
2019
Utgiver
Vendor
Palgrave Macmillan
Språk
Product language
Engelsk
Format
Product format
Digital bok
Forfatter