This book analyzes the European Great Recession of 2008-12, its economic and social causes, its historical roots, and the policies adopted by the European Union to find a way out of it. It contains explicit debates with several economists and analysts on some of the most controversial questions about the causes of the crisis and the policies applied by the European Union.
It presents the cases of Iceland, Greece and Ireland, the countries that first declined into crisis in Europe, each of them in a different way. Iceland is a case study for reckless banking practices, Greece of reckless public spending, and Ireland of reckless household indebtedness. At least seven other countries, mostly from the peripheries of Europe, had similarly reckless banking and spending practices.
In the center of the book are the economic and social causes of the crisis. Contemporary advanced capitalism became financialized, de-industrialized and globalized and got rid of the "straitjacket" of regulations. Solid banking was replaced by high-risk, "casino-type" activity. The European common currency also had a structural problem ― monetary unification without a federal state and fiscal unification. The other side of the same coin is European hyper-consumerism. A new lifestyle emerged during two super-prosperous periods in the 1950s to 1960s, and during the 1990s to 2006. Trying to find an exit policy, the European Union turned to strict austerity measures to curb the budget deficit and indebtedness. This book critically analyzes the debate around austerity policy.
The creation of important supra-national institutions, and of a financial supervisory authority and stability mechanisms, strengthens integration. The correction of the euro’s structural mistake by creating a quasi-fiscal unification is even more important. The introduction of mandatory fiscal rules and their supervision promises a long-term solution for a well-functioning common currency. These measures, meanwhile, create a two-tier European Union with a fast-track core. This book suggests that the European Union will emerge stronger from the crisis.
This book will be of particular interest to students and researchers of economics, history, political science and international finance, but will also prove profitable reading for practitioners and the interested public.
"synopsis" may belong to another edition of this title.
Ivan T. Berend is Distinguished Professor in the Department of History at the University of California, Los Angeles, USA.
"About this title" may belong to another edition of this title.
Shipping:
£ 2.82
Within U.S.A.
Shipping:
£ 8.34
From Germany to U.S.A.
Seller: HPB-Diamond, Dallas, TX, U.S.A.
paperback. Condition: Very Good. Connecting readers with great books since 1972! Used books may not include companion materials, and may have some shelf wear or limited writing. We ship orders daily and Customer Service is our top priority!. Seller Inventory # S_387866181
Quantity: 1 available
Seller: Biblios, Frankfurt am main, HESSE, Germany
Condition: New. Seller Inventory # 1837446808
Quantity: 4 available
Seller: Lucky's Textbooks, Dallas, TX, U.S.A.
Condition: New. Seller Inventory # ABLIING23Feb2215580198831
Quantity: Over 20 available
Seller: THE SAINT BOOKSTORE, Southport, United Kingdom
Paperback / softback. Condition: New. This item is printed on demand. New copy - Usually dispatched within 5-9 working days. Seller Inventory # C9780415637244
Quantity: 5 available
Seller: THE SAINT BOOKSTORE, Southport, United Kingdom
Paperback / softback. Condition: New. New copy - Usually dispatched within 4 working days. Seller Inventory # B9780415637244
Quantity: 1 available
Seller: Revaluation Books, Exeter, United Kingdom
Paperback. Condition: Brand New. 1st edition. 184 pages. 8.07x5.47x0.35 inches. In Stock. This item is printed on demand. Seller Inventory # __0415637244
Quantity: 1 available
Seller: PBShop.store US, Wood Dale, IL, U.S.A.
PAP. Condition: New. New Book. Shipped from UK. THIS BOOK IS PRINTED ON DEMAND. Established seller since 2000. Seller Inventory # L0-9780415637244
Quantity: Over 20 available
Seller: PBShop.store UK, Fairford, GLOS, United Kingdom
PAP. Condition: New. New Book. Delivered from our UK warehouse in 4 to 14 business days. THIS BOOK IS PRINTED ON DEMAND. Established seller since 2000. Seller Inventory # L0-9780415637244
Quantity: Over 20 available
Seller: Ria Christie Collections, Uxbridge, United Kingdom
Condition: New. PRINT ON DEMAND Book; New; Fast Shipping from the UK. No. book. Seller Inventory # ria9780415637244_lsuk
Quantity: Over 20 available
Seller: Revaluation Books, Exeter, United Kingdom
Paperback. Condition: Brand New. 1st edition. 184 pages. 8.07x5.47x0.35 inches. In Stock. Seller Inventory # x-0415637244
Quantity: 2 available