The destructive potential of the sovereign debt crisis of the euro area has been slowly abating since last summer, but still remains considerable. One reason for it is the sheer complexity of the crisis, which brings together several harmful factors, some long-standing, others more recent, like...

The world has been struck by a mutating systemic financial crisis that is unprecedented in terms of financial losses and fiscal costs, geographic reach, and speed and synchronisation. The crisis from August 2007 to date can be divided into three main phases: the financial turmoil from August...

The destructive potential of the sovereign debt crisis of the euro area has been slowly abating since last summer, but still remains considerable. One reason for it is the sheer complexity of the crisis, which brings together several harmful factors, some long-standing, others more recent, like...

The tenth edition of Economics of Monetary Union provides a concise analysis of the theories and policies relating to monetary union. The author analyses both the costs and benefits associated with exiting the eurozone, as well as presenting a discussion of the banking union, the current issues...

The period since the Second World war has been an eventful and often disturbing one in the international monetary field. Economic theories have been propounded and modified both to explain these events and to influence future choices made by economic actors. This history of international...

The ninth edition of Economics of Monetary Union provides a concise analysis of the theories and policies relating to monetary union. The author analyses both the costs and benefits associated with having one currency, as well as the practical workings and current issues with the Euro. In Part...

I analyse the nature of the design failures of the Eurozone. I argue first that the endogenous dynamics of booms and busts that are endemic in capitalism continued to work at the national level in the Eurozone and that the monetary union in no way disciplined these into a union-wide dynamics. On...