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The Euro and International Financial Stability (Paperback, Softcover reprint of the original 1st ed. 2014)
Loot Price: R3,892
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The Euro and International Financial Stability (Paperback, Softcover reprint of the original 1st ed. 2014)
Series: Financial and Monetary Policy Studies, 37
Expected to ship within 10 - 15 working days
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As a result of the financial crisis, the weaknesses of the
Eurozone, including the public debt crisis, materialized in severe
depressions in certain of its country members. In this monograph,
the author analyzes structural weaknesses of the Eurozone and
argues that they can be traced to (i) institutional differences,
(ii) differences in the economic structures, (iii) the fundamental
inability of European Bureaucracy to deal with crises, and (iv) the
extreme rigidity of markets which prevents a general equilibrium in
product and credit markets. He concludes that whether the Eurozone
is sustainable, depends on future monetary and credit policies, and
discusses the implications of reforming it in the best interest of
the international banking and financial system. The recent policies
of the ECB of “cheap” credit expansion are examined in detail.
The approach of the work is along the lines of von Mises’ and
Hayek’s Austrian tradition; additionally, substantive
international empirical evidence supporting this Austrian approach
is presented.
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