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The Euro - Evolution and Prospects (Hardcover)
Loot Price: R2,877
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The Euro - Evolution and Prospects (Hardcover)
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European economic and monetary union continues to be the subject of
intense controversy, and the launch of a single currency in January
1999 served to concentrate this debate around one issue: is the
euro in the interests of Europe? This pertinent book attempts to
address this contentious question. The authors offer a sustained
argument that the single currency as currently implemented does not
promise to deliver prolonged growth. They contend that the economic
impact of the euro, and its accompanying institutions, is likely to
be destabilising and deflationary; that the political impact is
profoundly undemocratic and that the social consequences are likely
to be deleterious. They do not reject the concept of a single
currency but are highly critical of policy arrangements such as the
Stability and Growth Pact which govern the euro. The authors
propose alternative policy and institutional arrangements within
which the euro should be embedded. They demonstrate that these
would have the benefits of a single currency whilst avoiding many
of the potential costs identified by detractors. EMU will continue
to cause huge changes in the social and economic sphere of Europe.
This book does not attempt to polarise the debate by simply
advocating for or against the euro, but instead puts the situation
into context, identifies potential problems and proposes possible
remedies. It will be required reading for economists, political
scientists, politicians and policymakers.
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