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The Future of the Euro is an attempt by political economists to
analyze the fundamental causes of the euro crisis, determine how it
can be fixed, and consider what likely futures lie ahead for the
currency. The book makes three interrelated arguments that
emphasize the primacy of political over economic factors. First,
the 'euro problem' is discussed as the result of the single
currency's fundamental lack of institutional embeddedness, insofar
as its original design omitted three 'forgotten unions' alongside
of monetary union: a financial and banking union, mutually
supporting institutions of fiscal union and economic government,
and a political union holding similar legitimacy to the
nation-state. Second, the 'euro experience' shows how the euro's
unfinished design led to economic divergence - quietly altering the
existing distribution of economic and political power within Europe
prior to the crisis - which in turn determined the EU's crisis
response. The book highlights how the euro's four most important
members - Germany, France, Italy and Spain - each changed once they
adopted the euro, why the crisis affected them so differently, and
how each has since struggled to live with the commitments the euro
necessitates. Third, the book examines three possible 'euro
futures' through the lens of the politics of its reluctant leader
Germany; through the lens of the EU's capacity to 'move forward'
through crises; and through the geopolitical lens of the
international monetary system. The book concludes that any
successful long-term solution to the euro's predicament needs to
start with the political foundations of markets.
Unlike some other reproductions of classic texts (1) We have not
used OCR(Optical Character Recognition), as this leads to bad
quality books with introduced typos. (2) In books where there are
images such as portraits, maps, sketches etc We have endeavoured to
keep the quality of these images, so they represent accurately the
original artefact. Although occasionally there may be certain
imperfections with these old texts, we feel they deserve to be made
available for future generations to enjoy.
Unlike some other reproductions of classic texts (1) We have not
used OCR(Optical Character Recognition), as this leads to bad
quality books with introduced typos. (2) In books where there are
images such as portraits, maps, sketches etc We have endeavoured to
keep the quality of these images, so they represent accurately the
original artefact. Although occasionally there may be certain
imperfections with these old texts, we feel they deserve to be made
available for future generations to enjoy.
Unlike some other reproductions of classic texts (1) We have not
used OCR(Optical Character Recognition), as this leads to bad
quality books with introduced typos. (2) In books where there are
images such as portraits, maps, sketches etc We have endeavoured to
keep the quality of these images, so they represent accurately the
original artefact. Although occasionally there may be certain
imperfections with these old texts, we feel they deserve to be made
available for future generations to enjoy.
Unlike some other reproductions of classic texts (1) We have not
used OCR(Optical Character Recognition), as this leads to bad
quality books with introduced typos. (2) In books where there are
images such as portraits, maps, sketches etc We have endeavoured to
keep the quality of these images, so they represent accurately the
original artefact. Although occasionally there may be certain
imperfections with these old texts, we feel they deserve to be made
available for future generations to enjoy.
Unlike some other reproductions of classic texts (1) We have not
used OCR(Optical Character Recognition), as this leads to bad
quality books with introduced typos. (2) In books where there are
images such as portraits, maps, sketches etc We have endeavoured to
keep the quality of these images, so they represent accurately the
original artefact. Although occasionally there may be certain
imperfections with these old texts, we feel they deserve to be made
available for future generations to enjoy.
Unlike some other reproductions of classic texts (1) We have not
used OCR(Optical Character Recognition), as this leads to bad
quality books with introduced typos. (2) In books where there are
images such as portraits, maps, sketches etc We have endeavoured to
keep the quality of these images, so they represent accurately the
original artefact. Although occasionally there may be certain
imperfections with these old texts, we feel they deserve to be made
available for future generations to enjoy.
Unlike some other reproductions of classic texts (1) We have not
used OCR(Optical Character Recognition), as this leads to bad
quality books with introduced typos. (2) In books where there are
images such as portraits, maps, sketches etc We have endeavoured to
keep the quality of these images, so they represent accurately the
original artefact. Although occasionally there may be certain
imperfections with these old texts, we feel they deserve to be made
available for future generations to enjoy.
Unlike some other reproductions of classic texts (1) We have not
used OCR(Optical Character Recognition), as this leads to bad
quality books with introduced typos. (2) In books where there are
images such as portraits, maps, sketches etc We have endeavoured to
keep the quality of these images, so they represent accurately the
original artefact. Although occasionally there may be certain
imperfections with these old texts, we feel they deserve to be made
available for future generations to enjoy.
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