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Books > History > History of specific subjects > Economic history
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Inside the Euro Crisis - An Eyewitness Account (Paperback)
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Inside the Euro Crisis - An Eyewitness Account (Paperback)
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In mid-2009 Simeon Djankov, who had dealt with a variety of
economic and financial crises as chief economist for finance and
private sector development at the World Bank, was suddenly thrust
into the job of finance minister of his native Bulgaria. For nearly
four years in that post, he attended more than 40 meetings of
European finance ministers and had a front row seat at the intense
discussions and struggles to overcome the economic and financial
crisis that threatened to unravel the historic undertaking of an
economically integrated Europe.In this personal account, Djankov
details his odyssey on the front lines, observing Europe's fitful
efforts to contain crises in Greece, Hungary, Ireland, Portugal,
Spain, Italy, Cyprus, and France. He tells the inside story of how
the European Central Bank assumed responsibility for the crisis,
pledging to do "whatever it takes" to save the euro area. This
candid book recounts the disagreements over fiscal austerity,
monetary policy, and banking supervision, while focusing on the
personalities who promoted progress-and those who opposed it. He
also tells the dramatic story of the events that led to his own
resignation as finance minister in 2013 over the policies he was
pursuing to spare Bulgaria from getting sucked into the crisis.
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